Frank A. Mayer, III

Frank A. Mayer, III

Pepper Hamilton LLP

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Latest Publications


Bank Board Director Alert: Banking on Cybersecurity

Prudential bank regulators and other supervisory authorities have put cybersecurity front and center in 2015 by issuing guidance that sets forth their expectations of improved cybersecurity and that incorporates cybersecurity...more

2/9/2015 - Banking Sector Banks Cyber Attacks Cybersecurity Industry Examinations JPMorgan Chase New Guidance NIST Prudential Regulation Authority

The Risk Retention Rules: A Victory for Securitizations Involving Residential Mortgage-Backed Securities?

When Congress passed the Dodd-Frank Act, it mandated the creation of risk retention rules in an effort to align the incentives of sponsors of asset-backed securities (ABS) with the interests of investors and to improve the...more

1/28/2015 - Asset-Backed Securities Dodd-Frank Risk Retention RMBS

Virtual Currency, Real Risks

CSBS publishes Draft Model Regulatory Framework to promote consistent state regulation of virtual currency activities and protect consumers in the event of a breach. In March 2014, “Mt. Gox,” one of the largest and best-known...more

1/28/2015 - Banking Sector Bitcoin BitLicense BSA/AML Cryptocurrency Currency Exchange Cybersecurity Financial Institutions Licensing Rules Popular Regulatory Agenda Supervision Virtual Currency

Observation 2.0: The Anti-Evasion Provision of the Volcker Rule

Overview This Client Alert continues Pepper’s observations on the Volcker Rule. Critical attention should be paid to the Volcker Rule’s anti-evasion provision, a powerful tool granted by Congress to the regulatory agencies to...more

1/9/2015 - Bank Examinations Bank Holding Company Banks Compliance Dodd-Frank Federal Reserve Prudential Regulation Authority Regulation Z Strategic Enforcement Plan Truth in Lending Act (TILA) Volcker Rule

Fear of Heights? OCC Adopts Heightened Standards for Risk Governance of Large Institutions

Wasting no time in leaving summer behind, on September 2, 2014, the Office of the Comptroller of the Currency (OCC) adopted Final Guidelines, to be published soon in the Federal Register, establishing risk governance...more

9/11/2014 - Banks FDIC Financial Regulatory Reform OCC Risk Assessment Risk Management

Sleeping Giant? OCC Wakes Up to New Focus on Merchant Processing

Following hard on the heels of recent risk management actions taken by other federal agencies, the Office of the Comptroller of the Currency (OCC) has issued a thoroughly updated booklet on Merchant Processing, which forms a...more

8/27/2014 - Anti-Money Laundering Bank Secrecy Act Banking Sector Banks OCC Payment Processors

FinCEN Proposes Fifth BSA Pillar

On July 30, 2014, the Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (the Proposed Rule) to clarify and strengthen customer due diligence (CDD) requirements as a fifth pillar under the...more

8/20/2014 - Bank Secrecy Act Banks Due Diligence Financial Regulatory Reform FinCEN

Extended SEC MCDC Initiative Deadline Does Little to Lessen Urgency

The Securities and Exchange Commission (SEC) has recently modified its Enforcement Division’s Municipalities Continuing Disclosure Cooperation (MCDC) Initiative in order to encourage as much participation in the program as...more

8/19/2014 - Deadlines Enforcement Enforcement Actions MCDC SEC

One Big Misunderstanding: FDIC Clarifies that Caution on Higher-Risk Activity Is Not a Prohibition on Third-Party Payment...

On July 28, 2014, in response to growing pressure from Congress and the banking industry, the Federal Deposit Insurance Corporation (FDIC) issued Financial Institution Letter 41-2014 to clarify its supervisory approach to...more

8/6/2014 - Depository Institutions FDIC Insured Depository Institutions Third-Party Relationships TPPPs

Managing Potential Sticker Shock – Agencies Release Guidance to Prepare Banks for HELOC End-of-Draw Periods

On June 30, 2014, the federal financial institution regulatory agencies (the Agencies) published Interagency Guidance on Home Equity Lines of Credit Nearing Their End-of Draw Period (the Guidance), which, as the title...more

7/16/2014 - Banking Sector HELOC Mortgages Risk Management Underwriting

Finding Bank Fraud Without Defrauding Bank – Supreme Court Grapples with Reach of Federal Criminal Bank Fraud Statute

On June 23, 2014, the United States Supreme Court in Loughrin v. United States unanimously rejected the petitioner’s argument to narrow the federal criminal law against bank fraud by reading into that statute’s second clause...more

7/16/2014 - Bank Fraud Banks FIRREA Fraud SCOTUS

Observation 1.0.1 on the Volcker Rule: With Summer Comes the First Wave — Of Guidance

A set of frequently asked questions, developed jointly and adopted in substantively identical form by the federal banking agencies (the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board (FRB) and the...more

7/3/2014 - Banking Sector CFTC FDIC Federal Reserve Guidance Update OCC SEC Volcker Rule

Underwriters, Universities and Government Debt Issuers Face a Critical Deadline [Video]

Join Pepper Hamilton in a special webinar examining the latest developments in the U.S. Securities and Exchange Commission’s Municipalities Continuing Disclosure Cooperation Initiative (MCDC Initiative), including what...more

6/23/2014 - Deadlines Debt Debtors Disclosure Requirements MCDC SEC

Mortgage Banking Takes Center Stage At OCC

On February 7, 2014, the Office of the Comptroller of the Currency (OCC) published a 232-page Mortgage Banking component to the Comptroller’s Handbook, its primary source of guidance for national banks and federal savings...more

2/25/2014 - Banks CFPB Mortgages OCC Qualified Mortgage Rule

Claims: Government Investigations, Enforcement and Triggering Insurance Coverage Under D and O Insurance [Video]

Recently, Pepper attorneys Frank A. Mayer, III and Charles E. Leasure, III gave a presentation on when an examination of a regulated institution triggers a claim and benefits under an insurance policy. They discussed the...more

2/14/2014 - Board of Directors D&O Insurance Investigations Professional Liability

Claims: Government Investigations, Enforcement And Triggering Insurance Coverage Under D And O Insurance

In this Presentation: - FDIC D&O Insurance and “Claim” Issues ..Definition of “Claim” in a D&O Policy ..So, what constitutes a “claim” ..“Claim” definition Denials and Cases ..Timing of a...more

1/31/2014 - Board of Directors D&O Insurance Enforcement FDIC Investigations Professional Liability

Community Bank Alert: OCC Proposes Heightened Standards For Large Banks: How Big Is Large?

As explained in our January 24, 2014 Client Alert, “‘Heightened Standards’ for Large Banks: OCC Proposed Guidelines,” the Office of the Comptroller of the Currency (OCC) has released a proposal seeking comment on guidelines...more

1/28/2014 - Banks Larger Participant OCC Volcker Rule

‘Heightened Standards’ For Large Banks: OCC Proposed Guidelines

On January 16, 2014, the Office of the Comptroller of the Currency (OCC) released a proposal seeking comment on guidelines that would establish minimum standards of governance, risk management and board independence for...more

1/27/2014 - Banking Crisis Banking Examinations Banking Sector Financial Regulatory Reform OCC

Observation On The Volcker Rule: Community Banks – Compliance Redux

In Observation 1.1.1, we discussed the surprise treatment under the new Volcker Rule regulations of collateral debt obligations (CDOs) backed by trust preferred securities (TruPS) as “covered funds,” which would force banking...more

1/20/2014 - Banking Sector Collateralized Debt Obligations Community Banks Final Rules Financial Regulatory Reform Market Making Regulatory Flexibility Act Trust Preferred Securities Volcker Rule

Observation 1.2 On The Volcker Rule: Foreign Banking Entities – Location, Location, Location

On December 10, 2013, the Board of Governors of the Federal Reserve System (FRB), Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), the Securities and Exchange Commission (SEC) and...more

1/17/2014 - Banks CFTC Collateralized Debt Obligations FDIC Federal Reserve Hedge Funds OCC Private Equity Proprietary Trading SEC Trust Preferred Securities Volcker Rule

Observation 1.1.1 On The Volcker Rule: Community Banks – Compliance

On December 10, 2013, the federal banking agencies jointly issued final regulations to implement the “Volcker Rule,” added to the Bank Holding Company Act by Section 619 of the Dodd-Frank Act, to prohibit banking entities and...more

1/10/2014 - Bank Holding Company Act Banking Sector Collateralized Debt Obligations Community Banks Dodd-Frank Financial Regulatory Reform Investment Fraud Proprietary Trading Regulatory Flexibility Act Securities Trust Preferred Securities Volcker Rule

Observation 1.1 On The Volcker Rule: Community Banks – Size Does Matter

On December 10, 2013, after more than three years of intensive development, the Board of Governors of the Federal Reserve System (FRB), Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation...more

12/24/2013 - Bank Holding Company Banks CFTC Dodd-Frank FDIC OCC SEC Volcker Rule

Observation 1.0 On The Volcker Rule

‘You Know It When You See It’ – Or Do You? - This is first in Pepper’s series of Client Alerts dealing with specific effects of the ‘Volcker Rule’ on various market segments. On December 10, 2013, after more than...more

12/17/2013 - Banking Sector Compliance Reporting Requirements Volcker Rule

Pennsylvania Changes its Banking Law: Why Does it Matter?

On October 25, 2012, Pennsylvania Gov. Tom Corbett signed into law a series of bills that legislators hope will modernize Pennsylvania’s banking laws. The amendments take effect on December 26, 2012....more


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