Finance & Banking

Read Wills, Trusts, & Estate Planning updates, articles, and legal commentary from leading lawyers and law firms:

News & Analysis as of May 20, 2013

Will the CFPB Take on the Regulation of Retirement Savings Plans?

by Daniel A. Nathan | Morrison & Foerster LLP on 2/26/2013

According to a recent Bloomberg report, the Consumer Financial Protection Bureau is considering whether it should take a role in helping Americans manage their retirement savings. CFPB Director Richard Cordray told a...more

CFPB considering role in consumer investment arena

by Barbara S. Mishkin | Ballard Spahr LLP on 1/28/2013

According to media reports, CFPB Director Cordray has indicated that the Bureau is considering whether it should take on a role in helping consumers manage their retirement investments and looking at its authority in this...more

Unlike a Ponzi victim, the only one left in a Tontine is sitting pretty.

by Charles E. Rounds, Jr. on 8/1/2012

In a Ponzi scheme, the last man loses. In a Tontine, on the other hand, the last man wins, like musical chairs. Here is a link to Charles E. Rounds, Jr.’s article on the common law aspects of the Madoff Ponzi scheme: ...more

Elder Financial Abuse

by Jonathan Foxx on 7/23/2012

The Consumer Financial Protection Bureau is involved in providing financial protection against elder abuse; indeed, it is specifically tasked with that responsibility. The Bureau's Office of Older Americans is charged by the...more

"Seniors Beware!"

by JOSEPH BOLLHOFER on 6/9/2011

Recently the folks at a local newspaper forwarded to me a letter they received from a gentleman identifying himself as “a senior citizen, over 75”. The letter was entitled “Seniors Beware.” The writer...more

UPWords- May 2011- Prepaid Discount Vouchers: The Not-So-Final Frontier

by Sutherland Asbill & Brennan LLP on 5/23/2011

The biggest challenge for unclaimed property practitioners is determining how new forms of property fit into unclaimed property laws. Recent technological and entrepreneurial innovations continue to challenge historic...more

3d DCA: Florida Fraudulent Transfer Barred by Statute of Limitations

by Fortenberry Legal on 5/5/2011

A recent Florida 3d DCA case held that the statute of limitations on Florida fraudulent transfers begins to run when the transfer itself could be known, not when the fraudulent nature of the transfer could be known....more

Dodd-Frank Act Rulemaking Update: Proposal for Living Wills and Credit Exposure Reports

by Morrison & Foerster LLP on 4/1/2011

On March 29, 2011, the Federal Deposit Insurance Corporation (“FDIC”) approved a proposed rule, jointly written with the Federal Reserve Board of Governors (“FRB”),1 concerning resolution plans and credit exposure reports...more

FinCEN: Elder Abuse - Red Flags

by Jonathan Foxx on 2/23/2011

On February 22, 2011, the Financial Crimes Enforcement Network (FinCEN) issued an advisory to assist the financial industry in reporting instances of financial exploitation of the elderly, a form of elder abuse. Financial...more

Physicians as Investment Fraud Targets

by IKE DEVJI on 2/15/2011

In uncertain times people derive a false sense of comfort doing in business with a personal or social contact or a member of their own religious or ethnic community. That comfort level is unfortunately replacing required...more