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More Data Needed to Counter Narrative Linking Bank/FinTech Relationships with "Bank Runs"

In a recent news release, Acting Comptroller of the Currency Michael J. Hsu reiterated the Office of the Comptroller of the Currency's (OCC) support for the FDIC's Notice of Proposed Rulemaking on the brokered deposit rule....more

New OCC Bank Merger Act (BMA) Guidance

The Office of the Comptroller of the Currency (OCC) released guidance regarding its planned changes to the Bank Merger Act (BMA).  The New Rule: Explicitly adds financial stability as a key factor for assessing mergers,...more

[Webinar] Brokered Deposits Best Practices for Bank Fintech Partnerships - July 25th, 11:00 am - 12:00 pm ET

You're Invited! Nelson Mullins invites you to a one-hour webinar entitled, "Brokered Deposits Best Practices for Bank Fintech Partnerships," on July 25. Partners Brad Rustin and Craig Nazzaro along with associate Marianna...more

[Webinar] FinTech University: FinTech and Bank Regulations - March 5th, 2:00 pm - 3:00 pm EST

Join us for the next edition of FinTech University as we focus on FinTech and bank regulations. This webinar will examine how bank regulations affect the FinTech industry (and vice versa), and what banks need to know when...more

Adding Fuel to the Fire: Is the FDIC Inadvertently Encouraging Lawsuits Against Banks Over NSF Fees?

The Federal Deposit Insurance Corporation (“FDIC”) on August 18, 2022 issued updated Supervisory Guidance on banks assessing multiple re-presentment fees against customers’ accounts. This follows the March 2022 FDIC Consumer...more

[Webinar] Fintech University: What is Fintech? - September 22nd, 11:00 am - 12:00 pm EDT

Launching the Nelson Mullins FinTech University series, join Richard Levin, Brad Rustin, Craig Nazzaro, and Kevin Tran for a program focusing on FinTech and how it is reshaping the world. This first one-hour CLE will...more

Bank-Model Partnerships: The New Banking Model for 2020 and Beyond

According to the FDIC, the most important factor contributing to the earnings gap between community and non-community banks is the ability to generate non-interest income from “activities that are typically not part of the...more

Talking Custody of Digital Assets

I had the pleasure of presenting at Bank Director Magazine's Inspired By Acquire or Be Acquired: What Officers and Directors Need to Know Now virtual conference, along with Rick Levin, earlier this month. Our...more

Brian Brooks' Last Dance

So let’s dance this last dance. On Jan. 4, 2021, the Office of the Comptroller of the Currency (“OCC”) published a Chief Counsel’s Interpretative Letter (the “Letter”) ‎confirming the authority of national banks’ and federal...more

FinTech Charters and Modernization of Financial Services Regulations

The Consumer Financial Protection Bureau (“Bureau” or “CFPB”) Taskforce on Federal Consumer Financial Law (“Taskforce”) released a two-volume report, on January 5, 2021, providing an examination of the existing legal and...more

OCC Finalizes its “True Lender” Test: Paving the Way for Bank & Non-Bank Partnerships

The Office of the Comptroller of the Currency (“OCC”) issued its long-anticipated final rule on Oct. 27, to establish a “simple, bright-line test” to determine when a national bank or federal savings association has made a...more

The State-Federal War Rages On: The Colorado Safe Harbor for Bank-Fintech Models

In early August an Assurance of Discontinuance (the “AOD”) was entered into by all parties in the actions brought by the Colorado Attorney General and the Colorado Uniform Consumer Credit Code Commissioner against Avant of...more

[Webinar] In the Trenches: Developments and Best Practices in Payments - August 13th, 11:00 am - 12:30 pm EDT

Join Nelson Mullins attorneys Brad Rustin and Craig Nazzaro for a full overview of the developments and best practices within the Payments space. We will cover regulatory issues, solutions and common challenges for both those...more

OCC Moves Forward on True Lender Test

As anticipated, on July 20, 2020, the Office of the Comptroller of the Currency (“OCC”) proposed rulemaking to determine that when a national bank or federal savings association makes a loan it is the “true lender,” when...more

Secretary Mnuchin Helps Financial Institutions on PPP Agent Fee Issues

During hearings before the House of Representatives on June 30, 2020, Representative Steve Stivers (R-OH), asked Treasury Secretary Mnuchin about financial institution’s payment of agent fees as part of the Paycheck...more

DOJ ‘Reminds’ Banking Industry of the Significant Risks Created by an Inadequate BSA/AML Program

Last week the Department of Justice (DOJ) announced criminal charges against U.S. Bancorp “consisting of two felony violations of the Bank Secrecy Act (‘BSA’) by its subsidiary, U.S. Bank National Association (the ‘Bank’),...more

States Launch Standardized Licensing Pilot Program for Money Services Businesses

Seven states have agreed to a multi-state compact standardizing key aspects of money services business (MSB) licensing. As of today, Georgia, Illinois, Kansas, Massachusetts, Tennessee, Texas, and Washington have joined into...more

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