Tag Archives: Banking

US federal banking agencies issue final regulations promulgating use of municipal obligations for LCR compliance

Late last month, the US federal banking agencies (the Federal Reserve Board (FRB), Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC), collectively, the “banking agencies”) issued an interim final rule that implements section 403 … Continue reading

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Online Banking: Are Financial Institutions Subjecting Themselves to Other Jurisdictions Without Knowing?

We work with many regional financial institution clients on a daily basis, and they regularly send us out-of-state garnishments, liens, levies, and other legal processes with one question—“Do I have to answer this?” The first question we ask is whether … Continue reading

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Equifax Enters Into Consent Order with State Banking Regulators Regarding 2017 Data Breach

As reported in BNA Privacy Law Watch, on June 27, 2018, Equifax entered into a consent order (the “Order”) with 8 state banking regulators (the “Multi-State Regulatory Agencies”), including those in New York and California, arising from the company’s 2017 … Continue reading

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Council Presidency progress report on work in the AHWP on strengthening the Banking Union

On 12 June 2018, the Bulgarian Presidency of the Council of the EU published a progress report on the work of the Ad Hoc Working Party on the Strengthening of the Banking Union (the AHWP). The AHWP met 4 times … Continue reading

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Treasury Department Data Shows Continuing Increase in Availability of Marijuana Banking

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has released updated quarterly statistics showing a continuing increase in the number of depository institutions that actively bank U.S. marijuana businesses. As of March 31, 2018, a total of 411 banks and … Continue reading

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