News & Analysis as of

Bank Accounts

Damming the Funding to North Korea: Anticipatory Seizure Warrants as a Tool to Enforce Sanctions and Thwart Money Laundering...

by Ballard Spahr LLP on

Two days after North Korea’s successful long-range ballistic missile test, the U.S. District Court for the District of Columbia unsealed a memorandum opinion which granted the Department of Justice “damming” warrants to seize...more

Home Is (Not) Where Your Legal and Financial Advisers Are: Minnesota Changes Domicile Determinations

by Faegre Baker Daniels on

Minnesota will no longer consider the location of a person’s attorney, CPA, financial adviser or bank account when determining where an individual is domiciled for income tax purposes. Under Minnesota law, an individual is...more

Banking fraud The power of well drafted account opening documents in the age of e-mail

by Dentons on

When a banking customer falls victim to a fraud on his or her account, the bank that unknowingly facilitated the fraud may be faced with the question of whether it acted with sufficient care to prevent it. The decision of the...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Jon Corzine’s plotting his Wall Street comeback, and he’s planning on using the unpredictable nature of the new administration to help him (and his new hedge fund) get there....more

Constructive Trusts Can Catch Wayward Trust Assets

by Downey Brand LLP on

Trustees in California trust disputes should not overlook the power of the constructive trust remedy as a way to recover errant trust assets. That’s a takeaway from Higgins v. Higgins (2017) __ Cal.App.5th __, an opinion in a...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Times gives us an intriguing long read on Uber’s Travis Kalanick, the controversial CEO whose vision has helped propel the ride-hailing company even as his no-limits approach has led the company into months of crisis....more

Russian Legislation Update: February - April 2017

by White & Case LLP on

Welcome to the most recent issue of our Russian Legislation Update, covering the period of February - April 2017. In this issue: - Banking - National Payment System - Banking - Banks' charters...more

Farewell to J. Geils – Final Compliance Function Lessons from Wells Fargo

by Thomas Fox on

You may not recognize the full name, John Warren Geils Jr., but you probably do recognize the name J. Geils, as in the J. Geils Band, who died this week. J. Geils was ubiquitous in the 70s and early 80s with, as noted by an...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Wells Fargo’s board not only issued a massive report on its fake account scandal yesterday. It also announced that the bank would claw back an additional $75 million from former CEO John Stumpf and former head of community...more

Coming Soon To A State Near You! Savings Plan for Disabled Marylanders: The MD ABLE Program

by Miles & Stockbridge P.C. on

In order to qualify for certain need based federal and state benefits in connection with a significant disability, individuals typically cannot have assets exceeding $2,000.00. While some assets are exempt from this...more

Hotel California and Wells Fargo-You Can Check Out, But Can You Leave?

by Thomas Fox on

Today, we celebrate The Eagles most famous song, Hotel California. It all started with a Don Felder cord progression and according to the Financial Times (FT) column The Life of a Song, it had a “fusion of Hispanic melody and...more

Business Litigation Reporter - April 2017

by Goodwin on

Representations and Warranties Insurance Policies – Lessons from the Claims Process - Representations and warranties insurance policies (R&WI Policies)—designed to protect parties from loss arising from breaches of...more

Can Wells Fargo Fix its Defective Culture? (Part I of III)

by Michael Volkov on

The more you learn about Wells Fargo’s culture problems, the more difficult the problems become. But you have to start somewhere, and assuming that Wells Fargo really is committed to addressing the serious problems they face,...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Greenlight Capital’s David Einhorn is pushing GM to split its common stock into two classes—one for dividends and the other for all additional earnings—in an effort to boost the carmaker’s market cap. GM’s not on board....more

Il recupero transfrontaliero dei crediti: l'ordinanza europea di sequestro conservativo su conti bancari

Il 18 gennaio 2017 è entrato in vigore il Regolamento di esecuzione (UE) n. 1823/2016 della Commissione (il "Regolamento") che ha completato la procedura per l'ordinanza di sequestro conservativo sui conti bancari (European...more

A Guide for Challenging a Joint Account Arrangement in Michigan

by Clark Hill PLC on

Joint bank account arrangements are as useful as they are common, providing a simple means for transferring an individual's assets to others - either during his/her life or post death by operation of a survivorship...more

Seizure of bank accounts: the EU Regulation 655/2014 entered into force from 18 January (Italian)

by Dentons on

New EU Regulation no. 655/2014: European conservative Seizure - From 18 January 2017 the EU Regulation 655/2014 is applicable (the "Regulations"), establishing a procedure for obtaining European preservation order on...more

French Legal and Regulatory Update - January 2017

by Hogan Lovells on

The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for January 2017. 1. Audovisual...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Activist investor Carl Icahn has taken a sizeable stake in Bristol-Myers Squibb, a move that reportedly caught execs at the drugmaker unawares and sets the stage for a potential sale....more

Tactics For Managing Marital Finances

by McManis Faulkner on

During a dissolution of marriage, financial management is essential to avoiding court imposed sanctions. Parties to a dissolution are required to preserve assets until the court has determined respective interests. At times...more

French Legal and Regulatory Update – December 2016

by Hogan Lovells on

The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for December 2016. Please see full...more

Privacy Perils: The Numbers (Might) Lie

by Bass, Berry & Sims PLC on

As if there weren't enough concerns over the security of your banking and credit card accounts – thefts of card numbers, card skimmers and online account hacking, to name a few....more

Obtaining Jurisdiction in New York Courts through Repeated Use of Correspondent Bank Accounts

In the past, a foreign bank’s use of correspondent bank accounts in the United States to facilitate wire transfers has not necessarily given New York courts a sufficient basis for jurisdiction over the bank. But a recent 4-3...more

Trading Card Maker Topps Notifies Customers of Data Breach

According to several media outlets, Topps, whose products include sports trading cards, recently notified customers via email of a security breach. Information that may have been compromised includes bank account numbers,...more

NY Expands Jurisdictional Reach Over Foreign Banks Using Correspondent Accounts

by Bracewell LLP on

The New York Court of Appeals recently gave a leg-up to plaintiffs seeking to hale foreign banks before New York state courts, clarifying that the use of a New York-based correspondent account could, under certain...more

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