Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
Let's Talk What to Bring to Your First Family Law Appointment
The FCA has published a report setting out its findings from follow-up work on payment account access and closures, together with the results of independent research on the experiences some of the most financially excluded...more
According to the National Domestic Violence Hotline, 27% of people in physically abusive relationships also reported experiencing financial abuse. Financial abuse takes many forms and does not discriminate based on race,...more
August is “National Make-a-Will” Month, the perfect opportunity to seriously consider your estate plan. Many delay this crucial task due to common misconceptions about what an estate involves. Here, we delve deeper into what...more
President Ronald Reagan once said, “Trust, but verify,” echoing a Russian proverb to describe the relationship moving forward with the Soviet Union. The saying loosely translates into proceeding cautiously when someone is...more
Once you have taken the essential step in formulating your estate plan, you must name an executor of your Will. Whom should you designate for this significant role, and what is expected of them?...more
On June 4, 2024, the Consumer Financial Protection Bureau issued a circular warning against the use of unlawful or unenforceable terms and conditions in contracts for consumer financial products or services. According to the...more
Are you thinking of moving to another country? Over the past decade, a record number of U.S. citizens have decided to live and work abroad. There are many issues you may not have considered that will impact any decision to...more
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) amended the Cuban Assets Control Regulations (CACR), 31 CFR Part 515, to promote internet freedom in Cuba, support independent Cuban private-sector...more
An anonymous thinker, lost to history, is credited with having said that the unofficial motto of the IRS is, “We have what it takes to take what you have.” In some instances, the truth of the above statement is manifested in...more
The North Carolina Supreme Court on Thursday, May 23 held that a credit union’s unilateral update to add an arbitration provision and class action waiver to its contract with one of its customers was valid under North...more
Components of the U.S. Federal Reserve System recently prevailed in two lawsuits in which both plaintiffs – Custodia Bank and PayServices Bank – alleged the defendants were required to grant the plaintiffs’ master account...more
On April 15, the Minnesota House of Representatives passed the Commerce Policy Omnibus bill, which includes key provisions of the Minnesota Debt Fairness Act. Minnesota AG Keith Ellison supports this bill and celebrated its...more
The Hong Kong Court of Final Appeal (CFA) finally settled the question of legality of the No Consent Regime (NCR) in its recent judgment in Tam Sze Leung v. Commissioner of Police [2024] HKCFA 8 – confirming that police may...more
The Health Sector Cybersecurity Coordination Center (HC3) recently issued an Alert warning that “threat actors employing advanced social engineering tactics to target IT help desks in the health sector and gain initial access...more
An IRS audit doesn’t have to be a nightmare of financial and emotional fear. How do most US taxpayers react when they receive an audit letter from the IRS? What are the actions you can take to not only improve the likelihood...more
One of the important components of the collateral package for a subscription finance facility is the lender’s perfected security interest in the fund’s bank deposit account into which the actual cash constituting the proceeds...more
It is common for a US taxpayer to ask “what happens if you don’t file an FBAR or a Form 8938, Statement of Specified Foreign Assets with the IRS? Why do I have to worry about filing an FBAR in San Diego or anywhere in the US,...more
Whether you are getting married or divorced, it is helpful to understand what will happen to the assets and liabilities that you have or had at the time of marriage. This is because assets and liabilities that you have...more
On February 14, 2024, the Minnesota Bankers Association and Lake Central Bank (the “Plaintiffs”) filed their memorandum in opposition to the Federal Deposit Insurance Corporation’s (FDIC) motion to dismiss their challenge to...more
In a prior blog, And When I Die…. What Happens to My Social Media?, I discussed Maryland’s “Fiduciary Access to Digital Assets Act” (“MFADAA”). The statute permits the “user” of “digital assets” to authorize a designee to...more
The FCC has significantly expanded telecommunications carriers’ data breach notification and reporting obligations. Telecommunications carriers, including Voice over Internet Protocol (VoIP) services, and telecommunications...more
As my colleague Eric Solotoff of the New Jersey Family Law Blog noted in a recent post the 2024 Divorce Season officially launched on January 2 as many unhappy couples defer taking action until the holidays are over and folks...more
On November 15, the CFPB announced a consent order against a Chicago-based small-dollar lender for allegedly violating a 2019 order and by independently violating the CFPA. According to the 2019 consent order, the respondent...more
It is not uncommon for local counsel to be instructed on deals after Agreed Security Principles (ASPs) have been agreed between our onshore counterparts and underlying clients. Whilst we are adept at conforming local security...more
2023 is proving an eventful year for Singapore anti-money laundering legislation. In the first half of this year, the Ministry of Home Affairs (MHA) proposed two bills, intended to strengthen the country’s legal framework...more