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Ballard Spahr LLP

Districts of Wyoming and Idaho Affirm Broad Fed Powers over Master Accounts

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Components of the U.S. Federal Reserve System recently prevailed in two lawsuits in which both plaintiffs – Custodia Bank and PayServices Bank – alleged the defendants were required to grant the plaintiffs’ master account...more

Troutman Pepper

Minnesota House Passes Key Provisions of Debt Fairness Act

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On April 15, the Minnesota House of Representatives passed the Commerce Policy Omnibus bill, which includes key provisions of the Minnesota Debt Fairness Act. Minnesota AG Keith Ellison supports this bill and celebrated its...more

Cadwalader, Wickersham & Taft LLP

Under Control March 2024 - How to Address Your Control Issues

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One of the important components of the collateral package for a subscription finance facility is the lender’s perfected security interest in the fund’s bank deposit account into which the actual cash constituting the proceeds...more

Ballard Spahr LLP

Plaintiffs file memorandum opposing FDIC’s motion to dismiss challenge to NSF fee guidance

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On February 14, 2024, the Minnesota Bankers Association and Lake Central Bank (the “Plaintiffs”) filed their memorandum in opposition to the Federal Deposit Insurance Corporation’s (FDIC) motion to dismiss their challenge to...more

Cadwalader, Wickersham & Taft LLP

FRB, FDIC and GAO Release Reports Reviewing Supervision of Silicon Valley Bank and Signature Bank

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Last Friday, the Federal Reserve Board (“FRB”) and Federal Deposit Insurance Corporation (“FDIC”) released reports evaluating their supervision of the failed Silicon Valley Bank (“SVB”) and Signature Bank (“Signature”),...more

Dunlap Bennett & Ludwig PLLC

CLIMBing to a SAFEr high? Are we finally headed towards safe banking for cannabis businesses?

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As more states legalize cannabis, license businesses, and regulate product (not to mention engorge tax coffers), entrepreneurs and customers in ‘legal’ states continue to confront fundamental questions often left in the...more

Cadwalader, Wickersham & Taft LLP

Federal Reserve Board Re-proposes Guidelines for Access to Federal Reserve Bank Accounts and Services

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On March 8, the Federal Register published the Federal Reserve Board’s supplemental notice and request for comment on updates to its proposed guidelines for Federal Reserve Banks to utilize in evaluating requests for access...more

Burr & Forman

Eleventh Circuit Affirms That Banks Must Use Unambiguous Language When Disclosing Methods For Assessing Overdraft Fees

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In Carol Tims v. LGE Community Credit Union, the Eleventh Circuit Court of Appeals held that a credit union’s account agreement with one of its customers was ambiguous about which account balance calculation the bank would...more

K2 Integrity

Banking Pot: How Financial Institutions Can Prepare for Changing Regulations

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History may view 2018 as a pivotal year for marijuana legalization. Although the year started with then U.S. Attorney General Jeff Sessions creating a haze over the industry and legalization supporters when he rescinded...more

Robinson+Cole Data Privacy + Security Insider

Opening a Bank Account with a Smartphone—Dodd-Frank Roll-Back Making Online Banking Easier

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President Trump recently signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act, which is already making waves in the financial sector for its repeal of certain Dodd-Frank provisions that were...more

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