Despite the existence of a prior acts exclusion in an insurance policy, the officers and directors of a failed bank were entitled to coverage for a lawsuit brought by the Federal Deposit Insurance Corporation (FDIC), the U.S....more
The Board of Governors of the Federal Reserve System requested public comment on a proposal intended to enhance the effectiveness of boards of directors, refocusing the regulator’s supervisory expectations of boards....more
The federal banking regulators proposed an increase in the threshold for commercial real estate transactions requiring an appraisal from the current $250,000 to $400,000, a move the agencies said was in response to “concerns...more
Why it matters -
One Colorado credit union is taking matters into its own hands after the Federal Reserve Bank of Kansas City (FRB-KC) and the National Credit Union Association (NCUA) rejected the institution's...more
9/1/2015
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Credit Unions ,
Declaratory Judgments ,
Department of Justice (DOJ) ,
Due Process ,
Financial Institutions ,
FinCEN ,
Marijuana Related Businesses ,
NCUA ,
Suspicious Activity Reports (SARs) ,
Tenth Amendment
Why it matters -
In a pair of joint statements, the Federal Financial Institutions Examination Council (FFIEC) cautioned financial institutions about cyber attacks compromising credentials and destructive malware. The...more
Community Banks and the Volcker Rule: What’s Next? -
For now, banks that have investments in CDO securities that are issued by funds that are invested in trust preferred securities (TruPS CDOs) have dodged a bullet. On...more
1/17/2014
/ Arbitration ,
Banking Sector ,
Collateralized Loan Obligations ,
Community Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Fair Lending ,
FFIEC ,
Financial Institutions ,
Mandatory Arbitration Clauses ,
Social Media ,
Trust Preferred Securities ,
Volcker Rule