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Bank Law Monitor

A legal blog for the financial services industry

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Reg CC Goes “Paperless”: New Amendments Address Electronic Checks, Remote Deposit Capture, and Other Modern Banking Trends
Regulation CC first became law back in 1992. Yes, that was when Sir Mix-a-Lot was “back” on the top of the charts, audiences were eating up Silence of the Lambs, and bowl cuts were a thing. Times have changed, but oddly Reg CC hasn’t. Since 1992, Reg...
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Update: The CFPB’s Proposed Arbitration Rule—Dead or Alive?
Update (August 28, 2017): A lot has happened since our original post on the CFPB's arbitration rule, and more is on the way. The CFPB's arbitration rule is definitely alive and breathing, for the time being: The CFPB published its long-awaite...
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Even Lawyers Have to Pay Their Debts: Washington Court Sides with Bank on Successor Liability Claim
Jun 16, 2017
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It turns out that even lawyers sometimes have to pay their debts. In a recent Washington appellate case, a bank successfully sued an attorney to recover on a loan made to his law firm. Typically the owner of a law firm wouldn’t be held responsible fo...
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Core Considerations for Core Contracts
Apr 14, 2017
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Negotiating the terms of a core processing contract makes haggling over a used car seem like child's play. For most banks, the reality is stark—you might get some wiggle room on price if you're willing commit to a longer term. You might also get a fe...
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No Credit History, No Problem: CFPB Ponders Novel Credit Scoring Ideas
Last month, the CFPB issued a Request for Information (“Request”) to identify potential ways to increase credit access for underserved segments of the population. In particular, the CFPB noted that certain groups of individuals lack enough credi...
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The Future of the CFPB Under the Trump Administration
Update (2/16/17):  The U.S. Court of Appeals for the District of Columbia granted the CFPB's request to reconsider its earlier ruling with respect to the President's ability to remove the Director of the CFPB. This ruling provides a glimmer of hope f...
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