Banks

Has the FCA started as it means to go on?

by Neil Gerrard, Miriam Gonzalez | Dechert LLP on 5/18/2013

Has the Financial Conduct Authority (“FCA”) in the UK started as it means to go on? The FCA recently fined a UK subsidiary of a private Swiss Bank for failing to establish and maintain effective anti-money laundering controls...more

Increasing profits help Qatar prepare for large-scale projects

by Amjad Hussain | K&L Gates LLP on 5/15/2013

This report was first published in "Islamic Finance news Volume 10 Issue 19" dated 15.05.13 - Many banks in Qatar are now enjoying strong government support and steady loan growth in their home market. This comfort is...more

European Commission Publishes Proposed Legislative Reforms of EU Banks

by Orrick - Structured Finance Group on 5/15/2013

On May 6, the European Commission published a roadmap for legislative changes. This follows the October 2012 publication of the Liikanen report, which provided a set of recommendations on banking reform sponsored by the...more

A Bank Can Solely Look To Its Account Agreement To Determine The Ownership Of Funds In An Account

by David Johnson | Winstead PC on 5/14/2013

In Abbott v. Liberty National Bank, Abbott obtained a money judgment against Scotty Norwood and had a writ of garnishment served on Liberty National Bank, who had an account owned by Scotty’s wife, in an attempt to collect on...more

S&C's Cohen: Brown-Vitter Punishes Banks For Being Big [Video]

by Bloomberg Law on 5/3/2013

May 3 (Bloomberg Law) -- Rodge Cohen, partner at Sullivan & Cromwell who represents the nation's largest banks, talks with Bloomberg Law's Lee Pacchia about the concept of Too Big To Fail and a recent proposal from Senators...more

Government Announces New Complaints Regulations for Bank Customers, Oversight by Federal Consumer Agency of Canada

by Kashif Zaman | Osler, Hoskin & Harcourt LLP on 4/15/2013

On April 10, 2013, the Canadian federal government announced the final publication of new regulations that will govern the system for resolving complaints regarding products or services provided by banks and authorized...more

Q&A on Cyprus' new banking laws

by Pavlos Aristodemou, Nancy Erotocritou, Margarita Hadjitofi, Emily Yiolitis | Harney Westwood & Riegels on 3/29/2013

28 March 2013 - Below are answers to frequently asked questions about banking in Cyprus in the context of the current banking crisis. Q. Under what circumstances is the Deposit Protection Scheme activated? A....more

Canada’s Largest Six Banks Designated as Systemically Important by OSFI

by Stephen Clark, Victoria Graham, Kashif Zaman | Osler, Hoskin & Harcourt LLP on 3/29/2013

In conjunction with A framework for dealing with domestic systemically important banks issued by the Basel Committee on Banking Supervision (BCBS), the Office of the Superintendent of Financial Institutions Canada (OSFI) has...more

Shifting Winds? Two N.C. Courts Uphold Fiduciary Duty Claims Against Banks

by Bryan G. Scott | Spilman Thomas & Battle, PLLC on 3/13/2013

For the first time ever, North Carolina’s Business Court and Court of Appeals both upheld fiduciary duty claims against banks in late 2012. Debtors frequently employ such claims in an attempt to shift liability for failed...more

SEC, Other Regulators May Delay Volcker Rule

by Felix Shipkevich | Shipkevich PLLC on 3/1/2013

Five regulators working on the Volker rule may delay releasing a final version of the rule until the second half of the year. The Wall Street Journal reports that this is later than previously expected, and that the delays...more

A bad month for payday lenders

by Jeremy T. Rosenblum | Ballard Spahr LLP on 3/1/2013

February was not a good month for payday lenders. As previously reported, on February 20, CFPB Director Cordray expressed pointed concerns about payday and short-term loan “debt traps” in a speech to the Consumer Advisory...more

CFPB action on overdraft fees not imminent

by Barbara S. Mishkin | Ballard Spahr LLP on 3/1/2013

Despite expectations that the CFPB would make overdraft fees a priority item, it appears that new overdraft rules or other CFPB action is not on the near horizon. According to a report today by Carter Doughtery in Bloomberg...more

House Members Reiterate Small Bank Concerns Over Basel III

by BuckleySandler LLP on 2/28/2013

On February 19, House Financial Services Committee members Shelley Moore Capito (R-WV) and Carolyn Maloney (D-NY) sent a letter to the Federal Reserve Board, the OCC, and the FDIC regarding the lawmakers’ concerns about the...more

U.K. FSA Fines Banks For Slow Response To Payment Protection Insurance Customer Complaints

by BuckleySandler LLP on 2/28/2013

On February 19, the U.K.’s Financial Services Authority announced a fine against three related banks for failing to promptly redress customers lodging complaints about the banks’ payment protection insurance (PPI) product. ...more

Texas Bank Settles Hispanic Discrimination Suit

by Michele Bowman | Lawyers.com on 2/27/2013

The Department of Justice on Feb. 19 announced that Texas Champion Bank has agreed to pay $700,000 to settle allegations that it discriminated against Hispanics who applied for loans with the bank....more

Legislative Update Report No. 2013-04 -- Feb 22, 2013

by Osler, Hoskin & Harcourt LLP on 2/26/2013

In This Article: Federal Government; Alberta; British Columbia; Manitoba; New Brunswick; Newfoundland; Northwest Territories; Nova Scotia; Nunavut; Ontario; Prince Edward Island; Québec/Quebec; Saskatchewan; and Yukon....more

Levick Weekly - February 22, 2013: The 'Ick' Factor Carnival's Long-Haul Challenge Ahead

by Richard S. Levick | LEVICK on 2/25/2013

In This Issue: - Sequestration - It Was A Wonderful Life - How Banks Can Revive Their Reputations - The 'Ick ' Factor - Carnival's Long-Haul Challenge Ahead - Blogs Worth Following - LEVICK In the News -...more

A battle over collateral -- If regulators are worried about over-encumbered bank assets, they must look beyond just covered bonds

by Jerry R. Marlatt | Morrison & Foerster LLP on 2/25/2013

Originally published in International Financial Law Review in February 2013. Covered bonds’ dual recourse nature makes them a favoured instrument for investors seeking both safety and yield. If the issuing financial...more

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Has the FCA started as it means to go on?

Increasing profits help Qatar prepare for large-scale projects

European Commission Publishes Proposed Legislative Reforms of EU Banks

A Bank Can Solely Look To Its Account Agreement To Determine The Ownership Of Funds In An Account

S&C's Cohen: Brown-Vitter Punishes Banks For Being Big [Video]

Government Announces New Complaints Regulations for Bank Customers, Oversight by Federal Consumer Agency of Canada

Q&A on Cyprus' new banking laws

Canada’s Largest Six Banks Designated as Systemically Important by OSFI

Shifting Winds? Two N.C. Courts Uphold Fiduciary Duty Claims Against Banks

SEC, Other Regulators May Delay Volcker Rule

A bad month for payday lenders

CFPB action on overdraft fees not imminent

House Members Reiterate Small Bank Concerns Over Basel III

U.K. FSA Fines Banks For Slow Response To Payment Protection Insurance Customer Complaints

Texas Bank Settles Hispanic Discrimination Suit

Legislative Update Report No. 2013-04 -- Feb 22, 2013

Levick Weekly - February 22, 2013: The 'Ick' Factor Carnival's Long-Haul Challenge Ahead

A battle over collateral -- If regulators are worried about over-encumbered bank assets, they must look beyond just covered bonds

Penalties Getting Tougher for Wayward Financial Institutions

FFIEC Proposes Guidance for Use of Social Media by Banks

Stricter Anti-Money Laundering Controls on Tap for EU Banks and Financial Companies

Can New Jersey Bank On the Infrastructure Bank?

Assured Wins $90 Million in Damages in RMBS Breach of Contract Trial

New Precedent that Holds Banks Responsible?

Fed Asked to Undertake Comprehensive Study of Financial Services Sector by J.C. Boggs

S&C's Cohen: Brown-Vitter Punishes Banks For Being Big [Video]

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