Topic: Banks

The CFPB In Numbers: 3 Years, 35 Enforcements, 300,000 Complaints, And Plenty of Lessons…

“The CFPB’s permit is vast. It has supervisory authority over banks, thrifts and credit unions with over $10 billion in assets, as well as many nonbank consumer financial services providers, such as mortgage lenders and servicers, student lenders and servicers, payday lenders and certain participants in the debt collection and consumer reporting markets.” From attorney… Read more »

Feds To Banks: We Probably Won’t Bother You For Taking Marijuana Money…

“Although the guidance pursued an admirable goal, it fell remarkably short.” (Steven Eichorn) Earlier this month, the Financial Crimes Enforcement Network (FinCEN) and the Department of Justice issued guidance intended to clarify the rules for banks that wish to provide financial services to legal marijuana businesses. The background, from attorneys Jay Baris and Oliver Ireland… Read more »

JD Supra Corporate Brief: Marijuana Industry Banks, Moldy Washing Machines, Deferred Prosecution Agreements, Foreign Sanctions Evaders

Go ahead, sign up for email delivery of the JD Supra Corporate Brief. It is Tuesday, after all… The bottom line? Banks should think twice before doing business with a marijuana-related business… (Jay Baris and Oliver Ireland at Morrison & Foerster) Injury or no injury, consumers are free to join class action lawsuits against Whirlpool… Read more »

JD Supra Corporate Brief: Proprietary Trading, Employee Training, Bazaarvoice Acquisition, Legal Marijuana

How do we celebrate Friday? Hot coffee, cheese danish, and a double-shot of the JD Supra Corporate Brief: Here’s a comprehensive look at the restrictions on bank proprietary trading in the Volcker Rule… (Maureen Donley, Stacy Kanter, and Laura Kaufmann Belkhayat at Skadden Arps) Why train employees on how to avoid sexual harassment and other… Read more »