Although it was very quiet on the western front (in particular, in California), 2019 was generally a solid year for banks pursuing merger and acquisition opportunities and accessing the capital markets. Some forthcoming...more
Is the Federal Deposit Insurance Corporation (FDIC) moving to work more closely with the state regulators with whom it shares so much prudential authority? So it seems. The FDIC has created a new advisory committee featuring...more
The Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board of Governors, Office of the Comptroller (OCC) and National Credit Union Administration (NCUA) have released a proposed Interagency Policy Statement on...more
Deciding that the benefit to smaller banks and other smaller financial institutions outweighs the lessening of transparency, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update to...more
Seeking to increase the transparency of the rules for determining control of a banking organization, the Federal Reserve Board of Governors (Board) asked for public comment on a new proposal....more
2018 was generally a solid year for banks looking at merger and acquisition opportunities and reaching for the capital markets, but there are some headwinds in 2019 that give us pause about what the future holds. Below we...more
As the fintech revolution advances, U.S. regional and community banks stand at a critical juncture. On one side is an on-ramp to the fintech superhighway—a road that is built for great speed but has significant perils as...more
The United States Department of Justice convened an unprecedented Summit on Digital Currency and the Blockchain on November 9, 2015. The reported goal of the Summit was to promote a dialogue between the government and...more
Madden v. Midland Funding, an important court case for marketplace lending may now be heard at the Supreme Court.
We have been following the Madden v. Midland Funding case as it makes its way through the court system....more
CFPB Fines Bank $7.5M for Overdraft Violations, With $49M More in Redress -
Why it matters:
In its first action targeting overdraft fees, the Consumer Financial Protection Bureau (CFPB) fined Regions Bank $7.5...more
This special edition of the Financial Services Law Newsletter includes a series of blog posts written by Peer-to-Peer Lending and Crowdfunding partner Brian S. Korn for the LendItUSA 2015 conference to be held April 13-15 in...more
Court: FTC Can Regulate Payday Lenders Affiliated With Indian Tribes -
In what is being hailed by the Federal Trade Commission as a victory for regulators, a federal court judge in Nevada has ruled that the FTC has the...more
D.C. Circuit Court Upholds Fed’s Debit Card Fee Cap, Antiexclusivity Rules -
Dealing a blow to merchants nationwide, the D.C. Circuit Court of Appeals reversed a lower court and upheld the rules promulgated by the...more
State and Federal Lawmakers, Chair of Fed Weigh in on Regulation of Virtual Currency -
The New York Department of Financial Services issued an order on Wednesday that it will immediately start accepting applications...more
3/14/2014
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
Chadbourne & Parke LLP v Troice ,
Class Action ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Ponzi Scheme ,
SCOTUS ,
SLUSA ,
Virtual Currency
Light ’em Up: FinCEN’s Cautionary Guidance About Banks Working With Marijuana Companies -
The Financial Crimes Enforcement Network’s new guidance on how to work with marijuana-related businesses is unlikely to make it...more
Bit by Bit(coin), Virtual Currency Inches Toward Regulation -
Has the time come to regulate virtual currency? At a recent hearing held by the New York Department of Financial Services, the answer appeared to be “yes.”...more
Swipe Fee Settlement Yields More Litigation -
Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more
2/11/2014
/ American Express ,
Antitrust Litigation ,
Banks ,
Class Action ,
Deposit Advances ,
FDIC ,
Fees ,
MasterCard ,
Prepaid Payment Products ,
Toys R Us ,
Visa Inc ,
Visas
Swipe Fee Settlement Yields More Litigation -
Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more
1/31/2014
/ Antitrust Litigation ,
Banks ,
Business Judgment Rule ,
Class Action ,
Deposit Advances ,
Directors ,
FDIC ,
Fees ,
MasterCard ,
Merchant Fees ,
Payday Loans ,
Settlement ,
Visa Inc
Community Banks and the Volcker Rule: What’s Next? -
For now, banks that have investments in CDO securities that are issued by funds that are invested in trust preferred securities (TruPS CDOs) have dodged a bullet. On...more
1/17/2014
/ Arbitration ,
Banking Sector ,
Collateralized Loan Obligations ,
Community Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Fair Lending ,
FFIEC ,
Financial Institutions ,
Mandatory Arbitration Clauses ,
Social Media ,
Trust Preferred Securities ,
Volcker Rule