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Banking Sector New York Regulatory Requirements

Sheppard Mullin Richter & Hampton LLP

OCC Enters Consent Orders Against New York-based Bank

On May 14, the OCC entered into a formal agreement with a New York-based bank after determining that the institution is in “troubled condition.” In its findings, the OCC cited alleged unsafe or unsound practices tied to the...more

Blank Rome LLP

Executive Summary – New York Regulation and Disclosure – What Mortgage Applicants Need to Know

Blank Rome LLP on

A new law in New York took effect on June 11, 2025, requiring banking organizations, licensed lenders, and mortgage bankers provide a disclosure pamphlet titled “What Mortgage Applicants Need to Know” (the “Pamphlet”)....more

Alston & Bird

Consumer Finance State Roundup - March 2025

Alston & Bird on

The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from two states: California: Effective January 1, California Assembly Bill 3108 addresses mortgage fraud. ...more

Harris Beach Murtha PLLC

NY Office of Cannabis Management Launches Banking Directory to Support Cannabis Businesses

The New York State Office of Cannabis Management (“OCM”) recently announced it has created a Cannabis Banking Directory (the “Directory”), which currently lists 10 financial institutions servicing cannabis businesses and open...more

Sheppard Mullin Richter & Hampton LLP

New York Proposes Limits on Overdraft and NSF Fees

On January 23, 2025 the New York Department of Financial Services (NYDFS) announced proposed regulations to curb overdraft fees and insufficient funds fees charged by banks in New York. The proposed rules aim to protect...more

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