News & Analysis as of

Banks

S.D.N.Y. Grants in Part and Denies in Part Trustee Bank of New York Mellon’s Motion for Summary Judgment in Suit Brought by...

On September 7, 2017, Judge Valerie Caproni in the United States District Court for the Southern District of New York granted the majority of RMBS trustee Bank of New York Mellon’s (“BNYM“) summary judgment motion and denied...more

Federal Reserve Board Announces Penalty Against State Bank for Alleged Violation of the National Flood Insurance Act

by Goodwin on

?On September 14, the Board of Governors of the Federal Reserve System announced the execution of a settlement with a state bank concerning alleged violations of the National Flood Insurance Act (“NFIA”), 42 U.S.C. §...more

Finding the Unicorn in Lender Liability Litigation

by Bryan Cave on

Investors frequently talk in terms of trying to find the next unicorn, that small start-up company that is going to turn into a billion dollar valuation. Lawyers are like that as well, always looking for that new decision...more

Fed Adopts Final Rule Regarding Contract Termination Provisions for Repos, Stock Loans and Swaps with Systemically Important Banks

by Proskauer Rose LLP on

On September 1, 2017 the Federal Reserve voted to adopt a final rule requiring U.S. global systemically important banking institutions ("GSIBs") and the U.S. operations of foreign GSIBs to amend qualified financial contracts...more

Why Your Board Should Stop Approving Individual Loans

by Bryan Cave on

In this the new era of banking, our clients are continually looking for ways to enhance efficiency and effectiveness at all levels of their organizations. This line of thinking has led to the revolution of the bank branch and...more

NAFCU-Hosted Credit Union Conference

by Ballard Spahr LLP on

The National Association of Federally-Insured Credit Unions (NAFCU) is hosting its annual conference in Washington, D.C. today through September 13....more

BCBS Consults on the Implications of FinTech for Banks and Supervisors

The Basel Committee on Banking Supervision (“BCBS“) published a consultative document (BCBS415) on the implications of FinTech for banks and their supervisors. The BCBS set up a task force to assess how FinTech will affect...more

OCC Publishes Guidance on Substantial Asset Changes

by Goodwin on

On August 23, 2017, the Office of the Comptroller of the Currency (OCC) published guidance on filings required by national banks and federal savings associations (collectively referred to here as “banks”) pertaining to...more

Frenemies: Gaining Efficiency Through Shared Services

by Bryan Cave on

Bryan Cave colleagues Ken Achenbach and Sean Christy join Jonathan and me on this episode of The Bank Account to examine the ability of banks to gain efficiency through shared services. Throughout the business environment,...more

Federal Reserve Board Announces Proposed Changes to Bank Board Expectations

by Dechert LLP on

The Board of Governors of the Federal Reserve (FRB) on August 3, 2017 issued a notice inviting comment regarding Proposed Guidance on Supervisory Expectations for Boards of Directors (Proposal). The Proposal applies to boards...more

WORD OF THE DAY® – Clean-Up Call

by Latham & Watkins LLP on

Partner Alexander Lentz explains the term Clean-Up Call from the Book of Jargon® – European Capital Markets and Bank Finance. The Book of Jargon® – European Capital Markets and Bank Finance is one of a series of practice...more

Overdraft Report, Disclosure Prototypes From CFPB

Focusing on overdrafts, the Consumer Financial Protection Bureau (CFPB) released a new report as well as prototypes of “Know Before You Owe” disclosures for banks and credit unions offering overdraft protection....more

California Considers State-Run Bank for Marijuana Businesses

Is California starting a government-run bank for marijuana businesses? What happened - Last November, California joined the growing number of states to enact legislation legalizing the use of recreational marijuana....more

The Sanity of Bank Directors

by Bryan Cave on

On today's podcast, hosts Jonathan Hightower and Rob Klingler discuss the kickoff to the college football season and delve further into Jonathan's article on BankBryanCave.com this week responding to a WSJ Op-Ed by fellow...more

HVCRE: The Continuing Saga of Lenders

by Bryan Cave on

Bryan Cave attorney Jerry Blanchard joins hosts Jonathan Hightower and Rob Klingler in the studio today to discuss High Volatility Commercial Real Estate (HVCRE) loans....more

Regulators Tackle Board Effectiveness and Overdrafts

by Bryan Cave on

Host Jonathan Hightower is joined by Ken Achenbach to discuss this week's proposed guidance from the Federal Reserve on the effectiveness of bank boards. In addition, at the outset of the episode Jonathan and Ken reviewed...more

Dealing with an Unsolicited Offer - The Bank Account

by Bryan Cave on

On today's episode Jonathan Hightower and Rob Klingler discuss how to handle unsolicited offers for your bank....more

Object Lesson on How Not to Respond to Consent and Enforcement Actions

by Sullivan & Worcester on

Last week, the DFS announced an enforcement action and charges against the NY Branch of Habib Bank, a Pakistani bank that had been doing business in NY for almost 40 years....more

Counterpoint: Why Sane People Serve as Bank Directors

by Bryan Cave on

Bank directors have played a crucial role in the turnaround of the banking industry, an accomplishment that deserves recognition in light of the fact that it has been done under tremendous regulatory burden and tepid economic...more

Nutter Bank Report, August 2017

Federal Reserve Issues Proposed Guidance on Board Duties and Responsibilities - The Federal Reserve has issued proposed supervisory guidance on the duties of boards of directors of institutions supervised by the Federal...more

Italy: New Rules on Financial Leases Provide Clarity

by Jones Day on

Law no. 124 of August 4, 2017 ("Law 124") provides important new rules on financial leases in Italy. It introduces a statutory definition of "financial lease" and deals with the event of serious breach (grave inadempimento)...more

Update on Regulatory Initiatives Regarding the Volcker Rule

by Dechert LLP on

As the general conformance period for banking entities to comply fully with Section 13 of the U.S. Bank Holding Company Act (Volcker Rule) and its implementing regulations (Volcker Regulations) ended on July 21, 2017, two...more

A Second Broker-Dealer Settles SEC Allegations Over Improper Handling Of Pre-Released ADRs

by Shearman & Sterling LLP on

On August 18, 2017, the Securities and Exchange Commission (“SEC”) announced that broker-dealer Banca IMI Securities Corp. (“BISC”), an indirect, wholly-owned U.S. subsidiary of Italian bank Intesa Sanpaolo SpA, agreed to pay...more

Federal Reserve Proposes to Clarify and Reduce Supervisory Expectations on Boards of Directors

by Bracewell LLP on

On August 9, 2017, the Board of Governors of the Federal Reserve (the "Federal Reserve") published proposed guidance on certain supervisory expectations for Boards of Directors of banks and holding companies. The proposal...more

Back to the Future: Finance Canada Releases Second Consultation on Financial Sector Legislation

On August 11, 2017, Canada’s Department of Finance (Finance Canada) launched the second stage of its consultation process to review the legislative and regulatory framework of the federal financial sector, by releasing its...more

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