California AG Rob Bonta issued letters to small banks and credit unions warning that overdraft and returned deposited item fees likely violate the state’s Unfair Competition Law and the federal Consumer Financial Protection...more
Regulatory Developments - FinCEN Issues NPRM Regarding Access to Beneficial Ownership Information and Related Safeguards - On December 15, FinCEN issued a Notice of Proposed Rulemaking (NPRM) that would implement...more
SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more