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
On March 12, 2025, the U.S. Bankruptcy Court for the District of Delaware denied four banks’ motion for summary judgment in an action seeking to claw back $35 million in fees associated with a $1.8 billion loan that allegedly...more
While PC software programs are a practical improvement over the trustee’s hard-copy ledger book, when it comes to keeping track of trust income and principal these programs still require serious clerical monitoring on the...more
On September 12, 2024, the U.S. Court of Appeals for the Eighth Circuit nixed a $563 million jury verdict against BMO Harris Bank involving claims that the bank aided and abetted a multibillion-dollar Ponzi scheme, ruling...more
The concept of default-rate interest — interest that accrues on a debt at a higher-than-normal rate if the debtor defaults on terms of the underlying financial instrument — is well known. Default-rate duties, however, may be...more
While institutional trustees may have once slept soundly considering themselves immune from class action lawsuits relating to the purchase or sale of securities on behalf of a trust, the Ninth Circuit’s recent ruling in Banks...more
On July 16, Judge Schofield in the United States District Court for the Southern District of New York dismissed four out of five claims in a suit filed by Ambac Assurance Corp. (Ambac) against U.S. Bank National Association...more
On April 29, 2019, the Office of the Comptroller of the Currency (OCC) issued an Advance Notice of Proposed Rulemaking (ANPR) to solicit comment on whether it should issue a formal proposal to expand the reach of its...more
A recent decision from the U.S. District Court for the Southern District of New York has breathed new life into the Bankruptcy Code Section 546(e)’s securities transaction safe harbor for fraudulent conveyance actions. Judge...more
S.D.N.Y. Judge Victor Marrero granted a stay in a proposed class action that alleges that U.S. Bank as trustee improperly used money from trusts to fund its defense in an RMBS suit. Royal Park Investments filed the underlying...more
Deutsche Bank settled with BlackRock and other RMBS investors in New York federal (BlackRock Balanced Capital Portfolio (Fi) v. Deutsche Bank National Trust Company, S.D.N.Y., No. 1:14-cv-09367) and California state...more
The Common Reporting Standard (“CRS”), following along the precedent set by the Foreign Account Tax Compliance Act (“FATCA”), creates the concept of “accountholders” in structures such as trusts, foundations, companies and...more
• The U.S. Department of Labor has entered into a fifth settlement agreement with the trustee of an employee stock ownership plan (ESOP). The agreement was entered into in connection with a recently settled case relating to...more
There is much for authorised firms to consider in the year ahead. Firms have been through the intensive period of the enactment of the second Markets in Financial Instruments Directive (MiFID II), but must now step up their...more
• The U.S. Department of Labor (DOL) and First Bankers Trust Services Inc. (FBTS) have entered into a settlement agreement filed in U.S. District Court for the Southern District of New York, resolving a case challenging FBTS'...more
On September 7, 2017, Judge Valerie Caproni in the United States District Court for the Southern District of New York granted the majority of RMBS trustee Bank of New York Mellon’s (“BNYM“) summary judgment motion and denied...more
On August 4, 2017, Judge Steven E. Martin of the Ohio Court of Common Pleas rendered a full verdict in favor of Defendant-Trustee The Bank of New York Mellon (“BNYM“) in Western and Southern Life Insurance Company, et al. v....more
On June 23, 2016, the First Department of the Appellate Division of the Supreme Court of the State of New York decided an appeal in an action brought by Bank of New York Mellon, as RMBS Trustee, against WMC Mortgage and JP...more
Surprisingly, the distinction between negligence and gross negligence in English contract and trust law is unclear. On one view, reflected in the older cases, there is little or no difference at all....more
This survey covers the legal principles governing Georgia businesses, their management and ownership. It catalogs decisions ruling on issues of corporate, limited liability company and partnership law, as well as transactions...more
In Adams v. Regions Bank, beneficiaries sued a trustee for multiple claims, including breach of fiduciary duty, arising from the trustee’s seizure of collateral owned by the trust. 2016 U.S. Dist. LEXIS 1027 (S.D. Miss....more
Farmer v. Citizens Nat’l Bank of Athens (In re Davis), 528 B.R. 757 (Bankr. E.D. Tenn. 2015) – A chapter 7 trustee sought a court determination that the trustee had a superior claim to settlement proceeds arising from...more
On December 22 and 23, U.S. Bank National Association, as trustee for three RMBS trusts, filed three separate summonses with notice in the Supreme Court of the State of New York. U.S. Bank alleges that Citigroup...more
On August 4, Judge Paul A. Crotty of the Southern District of New York granted Quicken Loans’ motion to dismiss a lawsuit brought by Deutsche Bank National Trust Co. (as Trustee of the GSR 2007-OA1 trust), alleging that...more
As the wave of litigation spawned by the 2008 financial crisis begins to ebb, insurance-coverage litigation arising out of the credit crisis continues unabated. Financial institutions have successfully pursued insurance...more
The growth in assets in Self Managed Super Funds (SMSFs) continues unabated with the SMSF sector now comprising nearly AUD500 billion in assets from just under 500,000 funds; each fund containing an average of around AUD1...more