Staving off tech litigation with smarter contracts
Contracts are risk-management tools, especially as millions of dollars in liability—and the bank’s reputation and customer relationships—can be at stake.
Contracts are risk-management tools, especially as millions of dollars in liability—and the bank’s reputation and customer relationships—can be at stake.
In a report today, the Financial Crimes Enforcement Network said it was able to identify tens of billions of dollars in suspicious activity by Russian oligarchs thanks in large part to filings from U.S. depository institutions.
In terms of understanding risk and risk exposure, financial institutions are on the front lines and serve as the eyes and ears to regulators in providing critical insight on emerging illicit finance threats, Elizabeth Rosenberg, U.S. assistant secretary for terrorist financing and financial crimes, said today during the ABA/ABA Financial Crimes Enforcement Conference.
The American Bankers Association and six other trade groups on Tuesday asked a federal court in Texas to grant summary judgment in their lawsuit against the CFPB for exceeding its legal authority when it expanded the definition of “unfairness” to encompass discrimination in the UDAAP exam manual earlier this year.
As some banks weigh ditching their holding companies, there are a few considerations for how and why publicly traded banks can file Exchange Act reports directly with their regulatory agencies.
A three-judge panel of the Fifth Circuit Court of Appeals today ruled that the Consumer Financial Protection Bureau’s funding structure violates the separation of powers clause of the Constitution.
A federal judge recently moved to vacate CFPB regulations that expanded the number of small-volume lenders deemed exempt from Home Mortgage Disclosure Act reporting requirements. I
The OCC today issued a bulletin for community banks on the legal requirements for protecting non-public OCC information in video teleconferencing services.
Expressing concern that the CFPB is acting contrary to its authorizing statute, three senior members of the House Financial Services Committee yesterday sought information on the CFPB’s collaborations with state attorneys general enforcement actions.
CFPB’s change is “contrary to law and subject to legal challenge” as well as potential congressional action, the groups said.