Financial Services Blog
- Blog: Antitrust UpdateSenate bill would attach strings to state licensing boards’ antitrust immunityPosted on August 18, 2017 by As we noted last month, the FTC has recently been voicing concerns about potentially anticompetitive actions of state professional licensing boards. Our post also discussed the scope of such boards’ immunity from antitrust liability under the Supreme Court’s caselaw. Now, a U.S. Senate bill sponsored by Republicans Mike Lee, Ted Cruz, and Ben Sasse seeks [...]
- Blog: NextGen Financial Services ReportOutside Bank Directors Take Note: Could Regulators’ Expectations Be Changing (Again)?Posted on August 16, 2017 by Elizabeth A. KhalilLast week, the Federal Reserve issued proposed guidance that could dial back some regulatory expectations for directors of financial institutions. The proposed guidance, applicable to Fed-supervised entities like bank holding companies and state member banks, would clarify the role of boards of directors, and place more responsibilities back onto management instead. This breaks with a...Continue Reading…
- Blog: Broker-Dealer Law CornerRansomware In 2017: Not A Pretty PicturePosted on August 9, 2017 by Greg SteinI am happy to share this post from my colleague, Greg Stein, about ransomware. While ransomware is not something unique to the financial services industry, because, as criminal Willie Sutton famously answered when asked why he robbed banks, our industry is “where the money is,” BDs, IAs and banks do seem to attract more than their fair...… Continue Reading
- Blog: TSMP ForefrontWe do(n’t) need another (type of) heroPosted on August 8, 2017 by Forefront: By TSMP takes a break from mulling the Law, and doffs its cap to Singapore’s heroes as we celebrate Singapore’s 52nd birthday.
- Blog: Global Capital Markets LitigationRBS Settles RMBS Claims in FHFA SettlementPosted on July 25, 2017 by Meg SlachetkaOn July 12, 2017, the Royal Bank of Scotland (RBS) and the Federal Housing Finance Agency (“FHFA”) announced an agreement to settle claims arising out of RBS’s sale of allegedly faulty residential mortgage-backed securities (“RMBS”). RBS will pay $5.5 billion to settle the claims. The FHFA, as conservator of Fannie Mae and Freddie Mac, filed...… Continue Reading
- Blog: Banking on This: Spilman Mortgage & Consumer Banking ReportAmendments to West Virginia’s Consumer Credit and Protection Act Take EffectPosted on July 5, 2017 by Spilman AdministratorIn a prior post, we detailed the West Virginia Legislature’s passage of a bill to amend the West Virginia Consumer Credit and Protection Act and Governor Justice’s signing that bill into law. You can read that post here. Those amendments to the consumer protection statute took effect yesterday, July 4th. If you have any questions […]