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Davis Wright Tremaine LLP

Reg Reform Update – Financial Regulations To Be Clarified or Repealed

While tariff policy has captured headlines, four recent regulatory reform policy developments are nevertheless significant for the financial services industry. These developments are tied to increasing presidential control...more

Lowenstein Sandler LLP

TD Bank to Pay Historic $3 Billion Over AML Compliance Violations

Lowenstein Sandler LLP on

On October 10, 2024, multiple U.S. federal and state agencies cumulatively fined a number of US based Toronto Dominion Bank subsidiaries (collectively, TD Bank or the Bank) more than $3 billion after finding that TD Bank...more

Mintz - Antitrust Viewpoints

Two Sides to Every Monopolization Suit: DOJ Sues Visa for Debit Monopolization

On September 24, 2024, the U.S. Department of Justice Antitrust Division (“DOJ”) filed a monopolization suit against Visa, Inc. (“Visa”), alleging that Visa has a monopoly in general purpose debit network services and general...more

Alston & Bird

FDIC, OCC, and DOJ Update Guidance on Bank Merger Evaluations

Alston & Bird on

Last week, each of the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Department of Justice Antitrust Division (DOJ) revised how they will review bank mergers. Our...more

Hudson Cook, LLP

CFPB Bites of the Month - October 2023 - Bewitching the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the October 2023 webinar. Bite 10: New Report on NSF Fees at Banks and Credit Unions On October 11, 2023, the CFPB issued a data...more

WilmerHale

United States V. Danske Bank: New Theory of Liability for Violation of US AML Standards

WilmerHale on

This Article discusses the recent plea agreement between the United States and Danske Bank. It argues that the Department of Justice has advanced a new and evolving theory of liability for foreign banks that access the U.S....more

Robins Kaplan LLP

Financial Daily Dose 2.11.2020 | Top Story: DOJ Indicts Four from Chinese Army Over 2017 Equifax Cyberattack

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-The DOJ has announced charges against four members of China’s military related to the 2017 cyberattack on credit-reporting agency Equifax, the breach that revealed “trade secrets and the personal data of about 145 million...more

White & Case LLP

Consumer financial services: The road ahead: Mortgage origination and servicing

White & Case LLP on

In 2018, the CFPB issued multiple rules, and Congress passed legislation, to clarify, revise and update the regulatory framework applicable to the home mortgage origination and servicing market....more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for August 2018

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

Perkins Coie

Blockchain Week in Review – August 2017 #6

Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

The Volkov Law Group

DOJ Criminal Prosecution of Wells Fargo: What to Expect?

The Volkov Law Group on

Compliance and enforcement headlines have focused on the Wells Fargo scandal. And for good reason. On September 8, 2016, the Consumer Financial Protection Bureau, the Comptroller of the Currency and the Los Angeles...more

Ballard Spahr LLP

DOJ Announces Two More ‘Operation Choke Point’ Settlements

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With the recent announcement by the U.S. Department of Justice (DOJ) that it had settled separate lawsuits against two small banks charged with facilitating consumer fraud through their relationships with third-party payment...more

Akerman LLP

Recent Trends in DOJ Investigations Against Major Financial Institutions Involving U.S. Economic Sanctions

Akerman LLP on

With the imposition of billion-dollar fines against large financial institutions, the U.S. Department of Justice ("DOJ") is focusing on banks for not only failing to comply with federal laws, but also for willfully violating...more

Burr & Forman

Shadow Regulation: A Call For Judicial Oversight To DPA’s Or NPA’s

Burr & Forman on

On August 21, 2014, the United States Department of Justice announced a record 16.65 billion dollar agreement to resolve civil claims alleged against Bank of America for improperly concealing the risks of mortgage-related...more

Latham & Watkins LLP

Beyond Switzerland: Preparing for the Fallout from FATCA and Other Global Transparency Initiatives

Latham & Watkins LLP on

You have implemented FATCA; what comes next? Will your company be the next witness in a US tax investigation? Financial institutions around the world must now prepare to respond to anticipated inquiries and investigations as...more

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