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Bank Law Monitor

A legal blog for the financial services industry

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OCC Invites Fintech Companies to Become Special Purpose National Banks
Last week, the Office of the Comptroller of the Currency (OCC) officially opened its doors to financial technology companies and encouraged them to apply to become "special purpose" national banks. The premise is simple—become a national bank, abide...
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Non-Payee Indorsement Triggers One-Year Limitations Period, Washington Supreme Court Holds
Banks have long been a favorite target for lawsuits when their customers don’t take basic steps to oversee their employees who later bilk the customer for millions of dollars over the course of untold years. Customers often try to hold the bank liabl...
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Cyber-Insurance Tips for an Evolving Risk Landscape
Sep 02, 2016
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Seth is editor of The Northwest Policyholder, the firm's insurance coverage blog, where portions of this article previously appeared. Surveys of C-suite executives continually rank cyber-related risks near the top of risk-management concerns. "Phis...
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Straight Talk About Community Banks
Jul 25, 2016
Context As many of you know, I spent six years as a bank regulator in the Securities Disclosure Division of the OCC. Since moving out to the Northwest, I have had the privilege of being involved with several hundred community banks ranging from de no...
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CFPB Finds “Deceptive” Data Security Practices Without Consumer Harm and Requires Dwolla to Implement a Written Data Security Plan
Apr 05, 2016
On February 16, 2016, the Consumer Financial Protection Bureau (CFPB) issued a Consent Order relating to certain “deceptive” acts and practices of Dwolla, Inc., an Iowa based payment processor (Dwolla). Dwolla operates a software platform that enable...
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Mar 16, 2016
Deal Talk Well, it’s almost Spring and the flowers and deal talk are starting to bloom. We hear and see a lot of activity going on in the Western United States. Our sense is that this activity is being fueled by a confluence of factors: continuing lo...
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