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Bank Law Monitor

A legal blog for the financial services industry

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I Just Wanna Know—Federal Bank Regulators to Require Notice of Major Cyber Security Events
Hardly a day goes by without news of a new cybercrime hobbling a major business.1 The grand scope of the SolarWinds hack, which went undetected for many months, underscored that even the most sophisticated technology companies (Microsoft, Cisco,...
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Washington’s New Statutory Wage Lien: How Wage Liens Impact Secured Creditors’ Rights
To read all five installments of this wage lien series, click here. Washington’s recently enacted Washington Wage Recovery Act, SB 5355 (the “Act”), creates a new statutory lien for employees’ unpaid wage claims against their employers. The Act has...
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New Reporting Requirements for Deposit Interest Paid to Residents of Chile
On September 28, 2021, the IRS released an advance version of Revenue Procedure 2021-32, updating previous guidance with respect to information reporting requirements applicable to residents of certain countries. Under previous guidance, the United S...
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Washington’s New Statutory Wage Lien: How Wage Liens Are Extinguished, Released, and Contested
To read all five installments of this wage lien series, click here. Washington’s recently enacted Washington Wage Recovery Act, SB 5355 (the “Act”) creates a new statutory lien for employees’ unpaid wage claims against their employers. The Act has s...
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Washington’s New Statutory Wage Lien: How Wage Liens Are Established and Foreclosed
To read all five installments of this wage lien series, click here. Washington’s recently enacted legislation, the Washington Wage Recovery Act, SB 5355 (the “Act”), creates a new statutory lien for employees’ unpaid wage claims against their employ...
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Regulators Offer Guidance for Community Banks on Fintech Relationships
In today’s competitive banking landscape, many community banks have embraced the benefits of partnering with a variety of financial technology companies (“fintechs”). In recent years, a variety of fintechs have emerged and introduced valuable experti...
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