A sustained increase in published thought leadership can help lateral partners and practice groups avoid the unmet business generation expectations that plague so many lateral moves. There’s a lot of commentary out there...more
Bank of America joined the club of consumer abusers – Wells Fargo had been the well-established leader of this club and the poster-child for abusive consumer practices. For years, Bank of America avoided federal...more
When business owners have partners and consider their succession planning, the topic of a buy-sell agreement comes up. This post discusses the possible use of an “insurance-only LLC” as part of a buy-sell....more
Make thought-leadership marketing and business development content a catalyst for your law firm’s cross-selling efforts....more
A district court decision in March has added to the sparse authority regarding the status of participant data under ERISA, particularly whether recordkeepers or other providers can use that data to offer additional products...more
Pittsburgh-based PNC Financial Services Group has reached a deal worth some $11.6 billion to buy the U.S. operations of BBVA, a Spanish lender. The mash-up, “one of the biggest banking deals since the 2008 financial crisis,”...more
This week I begin a five-part series on compliance as seen through the lens of Winnie the Pooh and the characters who live in the Hundred Acre Woods: Pooh, Eeyore, Tigger, Kanga & Roo, and Piglet. Winnie-the-Pooh, also called...more
On 17 March 2020, IVASS and the Bank of Italy issued a joint communication regarding the cross-selling of insurance products and financing (the "Communication") to be delivered to the members of the management and supervisory...more
Cross-selling is something I have always heard talked about, but not a lot of doing. Whether it’s a plan provider or a law firm, it’s something that should be done, but isn’t....more
Monday on Wall Street was the equivalent of a well-forecast storm that still managed to blow meteorologists’ minds. The deadly combination of diving oil prices and yet more COVID-19 worries spelled disaster for U.S. markets,...more
This week I have been exploring the Wells Fargo Department of Justice (DOJ) and Securities and Exchange Commission (SEC) settlement of $3 billion. The case presents multiple lessons for the compliance professional and one...more
This week I am exploring the Wells Fargo Department of Justice (DOJ) and Securities and Exchange Commission (SEC) settlement of $3 billion. The case presents multiple lessons for the compliance professional and one very large...more
I did not think that the Wells Fargo fraudulent accounts scandal could get worse for the bank. Boy was I wrong. Last week, in a Press Release, the Department of Justice (DOJ) announced a that Wells Fargo & Company and its...more
We often hear about the dangerous risk to a company’s culture from rigorous sales incentive programs. Like most issues, the answer to this issue is not cut and dried....more
The Office of the Comptroller of Currency (OCC) announced a $17.5 million settlement with former Wells Fargo Bank CEO John Stumpf’s role in the sales practices misconduct scandal. In addition, the OCC announced settlements...more
The OCC announced yesterday that it’s bringing enforcement actions against five former Wells Fargo bank executives as part of their alleged roles in the bank’s sales practices scandal. The agency further revealed that it’s...more
Thirteen states and the District of Columbia are suing to block the $26 billion plan to merge T-Mobile US Inc. and Sprint Corp. The trial is slated to begin today with state officials arguing the deal would create “a more...more
Fair Isaac Corp., creator of the “widely used FICO credit score,” unveiled plans to “roll out a new scoring system in early 2019 that factors in how consumers manage the cash in their checking, savings and money-market...more
Big tech (including Facebook, Google [theoretically], and Twitter) is heading back to the Hill (with @jack pulling double-duty, because that’s how he rolls). Here’s what to expect today based on their prepared testimony....more
On 16 June Legislative Decree No. 68/2018 aimed at implementing the IDD (the “Legislative Decree“) was published on the Italian Official Journal. ...more
We got an official first look at the Fed’s revised Volcker Rule yesterday, and the “sweeping plan to soften” the rule will open “the door for banks to resume some trading activities restricted as part of the 2010 Dodd-Frank...more
The Wells Fargo scandals continue to be one of the starkest lessons about the cost of a corrupt culture and the catastrophic effect it can have on an organization. The former Chief Executive Officer (CEO) and head of the...more
New Fed chair Jay Powell made his first official appearance before Congress in that capacity, relaying to the House Financial Services Committee yesterday that he viewed the country’s economic outlook as improved since...more
Wells Fargo’s ability to grow its business is on hold for a year while it designs and implements a remediation program to address deficiencies in its board governance, risk management and compliance program. ...more