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Department of Justice (DOJ) Banking Sector

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Summer 2024

Across industries, companies are facing new and uncertain regulatory pressures and demands in areas including artificial intelligence, sustainability, algorithmic pricing and fintech-bank relations. In this issue of The...more

White & Case LLP

Sanctions move up the agenda for lenders and borrowers

White & Case LLP on

Compliance with sanctions regimes has been a priority for debt markets. Amid rising geopolitical tensions, the stakes for lenders and borrowers are higher than ever - Intensifying geopolitical tensions and the US...more

GeoDataVision

Redlining Complications Caused by Implementation of 2020 Census Tracts

GeoDataVision on

In this podcast episode, Dean and Len discuss the complexities surrounding redlining accusations faced by banks, particularly focusing on the implications of the 2020 Census data. Len explains that the increase in the number...more

Hudson Cook, LLP

CFPB Bites of the Month - April 2024 - Won't Get Fooled Again, CFPB

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In this month's article, we share some of our top "bites" covered during the April 2024 webinar....more

ArentFox Schiff

Investigations Newsletter: Deputy Attorney General Monaco Warns Industries: “Fraud Using AI is Still Fraud”

ArentFox Schiff on

On March 7, Deputy Attorney General Lisa Monaco delivered the keynote remarks at the American Bar Association’s (ABA) 39th National Institute on White Collar Crime. She noted that artificial intelligence (AI) “holds great...more

Guidepost Solutions LLC

Emerging Expectations from the Latest Enforcement Actions Over Off-Channel Communications

Since December 2021, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have levied almost $3.0 billion in penalties for longstanding failures by 39 broker-dealers, swap dealers,...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2024

The U.S. Department of Justice (DOJ) and state authorities have agreed to a consent order with a large national bank to resolve allegations that the bank engaged in a pattern or practice of lending discrimination by affecting...more

K&L Gates LLP

OCC Proposes Changes to Merger Review Process

K&L Gates LLP on

Introduction - On 29 January 2024, the Office of the Comptroller of the Currency (OCC) issued a notice of proposed rulemaking (NPR) regarding its review of Bank Merger Act (BMA) applications. The NPR was released immediately...more

Orrick, Herrington & Sutcliffe LLP

DOJ announces settlement against Pennsylvanian bank for alleged redlining

On February 5, the DOJ, together with the State of North Carolina, announced a settlement with a Pennsylvania-based bank (respondent) to resolve allegations that the bank engaged in a pattern or practice of lending...more

Axinn, Veltrop & Harkrider LLP

The OCC's new Bank Merger Act rulemaking: Signs of life in bank merger reform?

On January 29, the Office of the Comptroller of the Currency (OCC) issued a Notice of Proposed Rulemaking for Business Combinations Under the Bank Merger Act. One element of the rulemaking in particular stands out as a...more

Whitman Legal Solutions, LLC

Redlining Was Outlawed More than 50 Years Ago – Does It Still Continue?

Recently, my son took an online college course about social justice in the as-built environment. One topic in the class was redlining – a practice that limited the availability of affordable home loans for minorities.   ...more

Sheppard Mullin Richter & Hampton LLP

CFPB Brings String of Enforcement Actions to Round Out 2023

In December, the CFPB brought a series of three separate enforcement actions against several financial services companies alleging a range of violations of federal consumer protections laws....more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Nondiscrimination and Military Protection Law

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to consumers protected by nondiscrimination and military protection laws....more

Sheppard Mullin Richter & Hampton LLP

For Limited Use Only: Guidance on National Security Delay Determinations under the SEC Cyber Reporting Rule

On December 12, 2023, the Department of Justice (“DOJ”) issued guidance related to the process by which companies may request the United States Attorney General authorize delays of cyber incident disclosures, pursuant to a...more

BakerHostetler

Swiss Banks Launch Crypto Offerings; GAO Addresses SEC Crypto Bulletin; UK and Hong Kong Publish Crypto Guidance; DOJ and SEC...

BakerHostetler on

Swiss Banks Launch Tokenization Pilot, Crypto Custody and Trading Services - A recent press release announced a pilot by “SIX, the Swiss National Bank (SNB) and six commercial banks” that seeks “to test, in a live...more

Nutter McClennen & Fish LLP

Nutter Bank Report: October 2023

The federal banking agencies have jointly issued a final rule that will modify how examiners assess compliance with the Community Reinvestment Act (CRA). Among other changes to the CRA regulations announced on October 24, the...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - October 2023 - 2

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Hudson Cook, LLP

CFPB Bites of the Month - October 2023 - Bewitching the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the October 2023 webinar. Bite 10: New Report on NSF Fees at Banks and Credit Unions On October 11, 2023, the CFPB issued a data...more

Alston & Bird

Affirmative Action in Lending: The Implications of the Harvard Decision on Financial Institutions

Alston & Bird on

The U.S. Supreme Court ruling ending race-based admissions at colleges and universities could have a ripple effect on unrelated fields. Our Financial Services & Products Group explores how the Harvard decision could change...more

Orrick, Herrington & Sutcliffe LLP

DOJ, Oklahoma bank agree to consent order over redlining

On August 28, the DOJ announced a settlement agreement to resolve allegations of redlining by an Oklahoma-based bank. According to the complaint, defendant allegedly engaged in redlining by refraining from providing home...more

Benesch

Cannabis Industry Quarterly Update: Q2 2023

Benesch on

There Has Been Little Movement in Federal Legalization. This has led to cannabis investors and companies to downgrade expectations for federal legalization and focus their strategies on state reform. Federal lawmakers...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, V 4, Issue 1, June 2023

CFPB - Regulators Take Aim at AI to Protect Consumers and Workers - “In the past year, the Consumer Finance Protection Bureau said it has fined banks over mismanaged automated systems that resulted in wrongful home...more

Skadden, Arps, Slate, Meagher & Flom LLP

Insights – April 2023 | Insights

This edition of Skadden’s quarterly Insights looks at the rising number of de-SPACed companies seeking Chapter 11 protection, the growth of a market designed to assume legacy liabilities, an effort to establish...more

WilmerHale

United States V. Danske Bank: New Theory of Liability for Violation of US AML Standards

WilmerHale on

This Article discusses the recent plea agreement between the United States and Danske Bank. It argues that the Department of Justice has advanced a new and evolving theory of liability for foreign banks that access the U.S....more

Orrick, Herrington & Sutcliffe LLP

FDIC issues 2023 Consumer Compliance Supervisory Highlights

On April 5, the FDIC released the March 2023 edition of the Consumer Compliance Supervisory Highlights, which is intended to “enhance transparency regarding the FDIC’s consumer compliance supervisory activities and to provide...more

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