News & Analysis as of

Notice Requirements Banking Sector

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Spring 2023

Changing CEOs is one of the most critical decisions any board faces. In this issue of The Informed Board, we offer tips on how to avoid the mistakes we most often see. We also explain the problems companies could face if the...more

Vinson & Elkins LLP

Second Circuit Determines Agent’s Mistaken Payment of Principal to Lenders Does Not Invoke “Discharge-For-Value” Exception to...

Vinson & Elkins LLP on

On September 8, 2022, a three-judge panel in the United States Court of Appeals for the Second Circuit (the “Second Circuit”) reversed the United States District Court for the Southern District of New York (the “District...more

Katten Muchin Rosenman LLP

Financial Institutions Require More Oversight of Cybsersecurity Risk under NYDFS

The New York Department of Financial Services (NYDFS) has published a proposal to amend its cybersecurity rules, which will require regulated companies to notify the NYDFS of a third-party cybersecurity incident within 72...more

Eversheds Sutherland (US) LLP

The Windfall Wire: Second Circuit panel says Citibank may recover nearly $500 million in inadvertently wired funds

​​​​​​​Citibank’s balance sheet is likely breathing a sigh of relief. A Second Circuit panel held that the bank may finally recoup nearly $500 million in funds that it inadvertently wired to lenders almost two years ago. US...more

Sheppard Mullin Richter & Hampton LLP

May 1st is Around the Corner: Bank Computer-Security Incident Notification Requirements

A few months ago, we published a post about the OCC, FDIC, and Federal Reserve Board’s final rule to improve information sharing about cyber incidents that may affect the U.S. banking system. Under the final rule, banks and...more

Holland & Knight LLP

The Impact of Cybersecurity Regulations on the Financial Services Industry in 2022

Holland & Knight LLP on

Following the SolarWinds and the Colonial Pipeline cyberattacks, the Biden Administration emphasized a shift toward mandatory cybersecurity requirements. Throughout 2021, government agencies issued new cybersecurity guidance,...more

Benesch

Federal Agencies Issue New Breach Notification Rules for Banking Organizations and Banking Service Providers

Benesch on

Banking organizations must notify the appropriate agency within 36 hours of certain computer-security incidents; and banking service providers must notify affected banking organizations as soon as possible in the event of an...more

Dorsey & Whitney LLP

The Prudential Bank Regulators Adopt Federal Data Interruption Notice Requirements for FDIC-Insured Institutions and Service...

Dorsey & Whitney LLP on

On November 23, 2021, the Office of the Comptroller of the Currency (the “OCC”), the Federal Deposit Insurance Corporation (the “FDIC”) and the Federal Reserve Board (the “Prudential Regulators”) exercised their collective...more

Nutter McClennen & Fish LLP

Nutter Bank Report: November 2021

Federal Banking Agencies Publish Policy Road Map for Crypto-Asset Activities - The federal banking agencies have issued a joint statement summarizing their interagency “policy sprints” focused on crypto-asset activities...more

Hinshaw & Culbertson - Consumer Crossroads

New York Court of Appeals Decision Clarifies RPAPL Notice Requirements, Affirms Heightened Standard for Borrowers

Last year, as we reported, the Second Circuit requested that the New York Court of Appeals rule on two certified questions concerning predicate notices in foreclosure actions. On March 30, 2021, the Court of Appeals issued...more

Goodwin

Fair Lending Considerations in a COVID-19 World: Rules Still in Play

Goodwin on

The U.S. banking regulators and state attorneys general have issued several appeals to the financial services industry to assist borrowers in financial distress due to the COVID-19 pandemic. These agencies have publicly...more

King & Spalding

Energy Newsletter - April 2020

King & Spalding on

Developing Contingency Plans: The NYDFS Mandate on Licensed Virtual Currency Businesses - The events surrounding COVID-19 have increased the use of fintech products, both out of necessity and convenience. Shelter-in-place...more

Mintz - Privacy & Cybersecurity Viewpoints

New York Dept of Financial Services (NYDFS) Extends Cybersecurity Compliance Deadline

The NYDFS has announced that it has extended the deadline for compliance with certain cybersecurity requirements due to the coronavirus emergency. The announcement from the Superintendent of Financial Services of the State...more

Hudson Cook, LLP

New York Student Loan Servicers Law: A Deeper Dive

Hudson Cook, LLP on

The May 2019 issue of Insights included discussion of a growing trend to regulate student loan servicers. Currently, there are a handful of states that impose requirements specifically on such parties. However, the ranks of...more

Nutter McClennen & Fish LLP

Nutter Bank Report, August 2018

Headlines - ...OCC to Begin Accepting Applications for Bank Charters for Fintech Companies ...Agencies Issue Rules Implementing 18-Month Exam Cycles for Community Banks...more

A&O Shearman

U.S. Subsidiary Of Dutch Bank Pleads Guilty To Allegations That It Conspired To Obstruct OCC Examination Of AML Program

A&O Shearman on

On February 7, 2018, Dutch bank Rabobank’s U.S. subsidiary pleaded guilty to conspiring to impair, impede, and obstruct a review by the Office of the Comptroller of the Currency (“OCC”) of the bank’s anti-money laundering...more

Bradley Arant Boult Cummings LLP

Recent Cases Highlight Latest Potential Foreclosure Evidentiary Pitfall

Over the last few years, financial institutions have been forced to modify their policies and procedures to ensure that they are able to demonstrate compliance with notice provisions contained in residential mortgages prior...more

Snell & Wilmer

New Cybersecurity Requirements for New York Financial Companies

Snell & Wilmer on

The New York Department of Financial Services has new cybersecurity regulations “designed to promote the protection of customer information as well as the information technology systems of regulated entities [financial...more

Hogan Lovells

The “Final Final” is Here: NYDFS Cybersecurity Regulations

Hogan Lovells on

As Hogan Lovells previously reported, the New York State Department of Financial Services (NYDFS) has launched a significant initiative to impose detailed cybersecurity requirements on covered financial institutions. On...more

Carlton Fields

NY DFS Cybersecurity Regulations Take Effect March 1, 2017

Carlton Fields on

We previously reported on the New York Department of Financial Services’ proposed cybersecurity regulations. During the public comment period, the DFS received over 150 comments. In response, the DFS announced on December 28,...more

Carlton Fields

NY DFS Proposed Cybersecurity Regulations Revised and Implementation Delayed

Carlton Fields on

We previously reported on the New York Department of Financial Services’ proposed cybersecurity regulations. During the public comment period, the DFS received over 150 comments. In response, the DFS announced on December 28,...more

Dorsey & Whitney LLP

The Beukes Decision: A Helpful Clarification Regarding the Right of Rescission

Dorsey & Whitney LLP on

Earlier this year, in Jesinoski v. Countrywide, the Supreme Court answered an important question regarding the procedure for rescinding a residential mortgage refinance loan under the Truth in Lending Act (“TILA”). Under...more

McDermott Will & Emery

Post-DMA, Federal Court of Appeals Broadly Interprets Jurisdictional Limitations of Anti-Injunction Act

Earlier this month, the United States Court of Appeals for the D.C. Circuit held in Florida Bankers Ass’n v. U.S. Dep’t of the Treasury, No. 14-5036 (D.C. Cir. Aug. 14, 2015) that the Anti-Injunction Act (AIA, codified at 26...more

Bradley Arant Boult Cummings LLP

Notice Me: The New Notice Requirements for HOA Lien Foreclosures in Nevada

In a previous blog post, we reported on Senate Bill 306, passed by Nevada Governor Brian Sandoval on May 28, 2015. The legislation redresses the substantial harm caused by SFR Investments Pool 1, LLC v. U.S. Bank, N.A. In SFR...more

Bond Schoeneck & King PLLC

New York State DOL Issues Draft Regulations on Payroll Debit Cards

The New York State Department of Labor (“NYSDOL”) recently proposed new regulations governing the payment of employee wages via payroll debit cards – a growing practice among employers. These draft regulations, which are not...more

27 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide