Wild Times for the Community Reinvestment Act
Daily Compliance News: July 31, 2025. The Forgotten Generation Edition
Compliance Tip of the Day: Citibank and Continuous Monitoring
Wire Fraud Litigants Beware: Fourth Circuit Ruling Protects the Banks — The Consumer Finance Podcast
Top challenges with Compliance Management
From Banks to FinTech: The Evolution of Small Business Lending — The Consumer Finance Podcast
From Banks to FinTech: The Evolution of Small Business Lending — Payments Pros – The Payments Law Podcast
The Capital Ratio Podcast | Entering the US Banking Market
Point-of-Sale Finance Series: Banking on Lending Models — The Consumer Finance Podcast
Understanding MALPB Charters: A Collaborative Approach to Banking Innovation — Payments Pros – The Payments Law Podcast
The fatal flaws in the 2023 CRA rule
Fraud, the silent epidemic
Consumer Finance Monitor Podcast Episode: Private Civil Consumer Financial Services Litigation to Partially Fill CFPB Void - Part 1
Daily Compliance News: April 21, 2025, The Tribute to Pope Francis Edition
Predictions regarding the 2023 CRA Rule and Section 1071 and how to prepare for expected developments
The Capital Ratio Podcast | Stablecoins: Regulatory Issues for UK and EU Banks To Consider
Strengthening Compliance: Lessons From the OCC's Consent Order With Patriot Bank — Payments Pros – The Payments Law Podcast
Navigating 2025: Federal Legislative and Regulatory Updates on Stablecoins and Decentralized Finance — The Crypto Exchange Podcast
Third-Party Risk The competitive world of banking struggles to keep up with technological advances, particularly in a regulatory environment.
Deposit Account Litigation: Highlights From 2024 and What to Expect in 2025 — The Consumer Finance Podcast
The UK Payment Systems Regulator (PSR) has published an update on what it has seen since the implementation of its authorised push payment (APP) fraud reimbursement scheme in October 2024. The data covers UK payments made via...more
Ever since the Supreme Court held, in Philipp v Barclays Bank plc1(Philipp), that claims based on the Quincecare duty against the payment services provider (PSP) which paid the funds away were not open to victims of...more
Banking fraud of all types is an ever increasing problem in today’s society, and takes a multitude of forms. On a basic level, frauds can be divided into two types. Unauthorised fraud, where the victim does not provide...more
On October 1, 2024, the United Kingdom Financial Conduct Authority (UK FCA) phased out ‘Zombie’ LIBOR, as a transitional benchmark, with the move to alternative “risk-free” rates....more
In an era where digital transactions are increasingly vulnerable to sophisticated fraud, regulators around the world are stepping up to enhance consumer protection and cybersecurity. Singapore's Shared Responsibility...more
Authorised push payment (APP) fraud in the UK is the largest type of payment fraud, both in number of scams and value of losses. It involves a fraudster convincing someone to send a payment to a bank account that the...more
The UK Financial Conduct Authority (FCA) has published its business plan for 2024/25. Reducing and preventing financial crime, championing consumer needs and strengthening the UK’s position in global wholesale markets all...more
Authorised Push Payment (“APP”) fraud, where victims are tricked into authorising payments to fraudsters, resulted in losses of £485.2m in 2022 and is reported to have risen by 22% in 2023. With consumer protection laws...more
In the much-anticipated decision of Philipp v Barclays Bank UK PLC [2023] UKSC 25 (the “Decision”), the UK Supreme Court (the “Court”) rejected the contention that Barclays Bank UK Plc (the “Bank”) owed a duty to its customer...more
On 12 July 2023, the UK Supreme Court delivered a landmark decision on the so-called “Quincecare duty” owed by banks to their customers. In a unanimous judgment in favour of Barclays Bank, the UK’s highest Court held that...more
In Philipp v Barclays Bank UK PLC, the UK Supreme Court has given unanimous judgment in favour of Barclays Bank, and provided clear guidance on the so-called ‘Quincecare duty’ owed by banks to their customers. White & Case...more
Who can be held responsible when a rogue actor directs payment from a company’s bank account? Unless discovered quickly, stolen funds are usually quickly spirited away from easy recovery. Victims of fraud therefore look for...more
On 25 November, the High Court of England and Wales ruled in a significant decision that suspected proceeds of crime linked to unnamed individuals must be transferred to the National Crime Agency (NCA). The funds were held by...more
The United Kingdom’s Civil Procedure Rule Committee recently approved methods of extra-jurisdictional service of Norwich-type information orders that could make it easier to pursue cross-border economic crime disputes in...more
New High Court case considers nature and scope of the Quincecare duty - In June, the Court of Appeal expanded the scope of a bank’s duty of care to protect its customers from fraud to encompass instructions by those other...more
What is the scope of banks’ duties to customers in executing their customers’ instructions? In particular, what are banks’ duties if the instruction is the instrument of fraud? Earlier this month, the Court of Appeal...more
In Philipp v Barclays Bank UK PLC, the Court of Appeal held that the Quincecare duty may apply to direct customer instructions (not just those through an agent), such that banks may be liable for failing to protect against...more
NatWest’s fraudulent “spoofing” schemes occurred in the primary and secondary markets for U.S. Department of Treasury Securities, including derivatives that tracked the prices of U.S. Treasury Securities for 5-year, 10-year...more
This summary is part of our regular reporting of trends and developments related to investigations and enforcement activity into fraud, corruption, and other misconduct by authorities in the United States and the Americas and...more
FOREWORD - On behalf of the new and expanding Goodwin London litigation team I am delighted to welcome you to our first ever ‘Litigation Insights’: a series of quarterly updates on important and interesting developments...more
National Bank Trust v Ilya Yurov & Ors [2020] EWHC 100 (Comm) provides a useful insight to the English Court's approach to pleading and evidencing fraud, emphasising the importance of properly particularised claims and...more
In Vneshprombank LLC v Georgy Bedzhamov and ors [2019] EWCA Civ 1992 the Court of Appeal reaffirmed the approach to ascertaining the "ordinary living expenses" of a respondent to a freezing injunction....more
The new code aims to avoid customers being penalised for fraudsters’ actions. Estimates indicate that fraudsters stole £1.2 billion from UK bank accounts in 2018 — a 16% increase on the previous year....more
The Global Restructuring and Insolvency Developments team of BCLP presents this very concerning opinion for any financial institution that operates in the United Kingdom. Specifically, in Singularis Holdings Ltd (in Official...more
On December 28, 2016, the New York Department of Financial Services ("DFS") released a revised version of a proposed regulation that would require banks, insurance companies, and other financial services institutions...more