News & Analysis as of

Bank Accounts

Getting Divorced? Four Cautionary Tips about Accessing Your Spouse’s Electronic Information

by Jaburg Wilk on

Question: I know my spouse’s passwords to their social media accounts, bank accounts and/or email accounts, can I log into their account and get the information we need to help win my case? ...more

Tales from the Corporate Scandal Crypt: GM, VimpelCom, VW and Wells Fargo

by Michael Volkov on

We are fascinated by corporate scandals. Since the 1980s, the US public has enjoyed unraveling corporate scandals, and vilifying corporate leaders caught in the web of deceit and misconduct. I am sure there are historical...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

As the scandal grows, WF’s newish CEO, Timothy Sloan, faces the unfortunate reality of being a company man (30-years at Wells) when the foundations of that company are cracking....more

European Commission Requests Feedback on a Roadmap for Widening Access to Centralized Bank and Payment Account Registries

On August 9, 2017, the European Commission published an inception impact assessment (Ares (2017)3971182) (also called a roadmap) on access to centralized bank account registries. In the roadmap, the Commission explains...more

CFPB issues third report on checking account overdraft services and model form prototypes

by Ballard Spahr LLP on

The CFPB has issued another report on checking account overdraft services, “Data Point: Frequent Overdrafts.” The new report represents the CFPB’s third report dealing with overdraft services. It previously issued a white...more

Joint Accounts: Who Gets the Account Upon Your Death?

by Farrell Fritz, P.C. on

An account that is titled in your name and that of your child “with right of survivorship” passes to your child upon your death “by operation of law.” That is, your Will does not control the disposition of this account. When...more

2017's Top Five Consumer Complaints to the CFPB (So Far)

by Baker Donelson on

Despite continued efforts in Congress to curtail the scope of the CFPB, the Bureau continues to move ahead with issuing new regulations, conducting investigations and initiating enforcement actions. As part of its efforts,...more

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

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