On December 10, 2013, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity...more
On December 3, the CFPB’s Ombudsman Office issued its second annual report covering the Office’s activities during fiscal year 2013 (October 1, 2012 through September 30, 2013). The role of the Ombudsman’s Office is to assist...more
The U.S. Treasury and four other federal agencies jointly issued their final rule1requiring depository institutions to protect up to two months’ worth of their depositors’ direct deposits of Social Security and certain other...more
Originally published in Bank News, February 2013.
Mary, your trusted employee, has embezzled money from your bank. Or, Bryan, a long-time customer, has used a deposit account at your bank to defraud his employer (and...more
This analysis updates a previous memo and incorporates advice we have received from the Federal Reserve Board (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”) regarding the preparation of living wills for bank...more