Bank Law Monitor
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DOJ Rescinds the Cole Memo—What It Means for Your Financial Institution
Reiterating that Congress considers marijuana to be a "dangerous drug" and marijuana activity to be a "serious crime," Attorney General Jeff Sessions today issued a memo to all U.S. attorneys rescinding various memoranda related to enforcem...
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Update: The CFPB’s Proposed Arbitration Rule is Officially Dead
This is an update to our original post: The CFPB's Proposed Arbitration Rules–Dead or Alive? on June 1, 2017.
It is official: The CFPB's arbitration rule is dead. On October 24, the Senate passed its resolution to disapprove the CFPB's rul...
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Reg CC Goes “Paperless”: New Amendments Address Electronic Checks, Remote Deposit Capture, and Other Modern Banking Trends
Regulation CC first became law back in 1992. Yes, that was when Sir Mix-a-Lot was “back” on the top of the charts, audiences were eating up Silence of the Lambs, and bowl cuts were a thing. Times have changed, but oddly Reg CC hasn’t. Since 1992, Reg...
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Update: The CFPB’s Proposed Arbitration Rule—Dead or Alive?
Update (August 28, 2017): A lot has happened since our original post on the CFPB's arbitration rule, and more is on the way. The CFPB's arbitration rule is definitely alive and breathing, for the time being:
The CFPB published its long-awaite...
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Even Lawyers Have to Pay Their Debts: Washington Court Sides with Bank on Successor Liability Claim
It turns out that even lawyers sometimes have to pay their debts. In a recent Washington appellate case, a bank successfully sued an attorney to recover on a loan made to his law firm. Typically the owner of a law firm wouldn’t be held responsible fo...
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Core Considerations for Core Contracts
Negotiating the terms of a core processing contract makes haggling over a used car seem like child's play. For most banks, the reality is stark—you might get some wiggle room on price if you're willing commit to a longer term. You might also get a fe...
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