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C-Suite Financial Services Review: Navigating state money-transmission laws
Financial technology companies’ entry into the payment, money transmission, consumer and commercial finance, and virtual-currency markets has spotlighted byzantine state money-transmission laws. State regulators are generally responsible for licensing and supervising the activities of money...
C-Suite ReviewC-Suite Financial Services Review: BSA/AML for nonbanking institutions
The requirements of the Bank Secrecy Act and anti-money-laundering laws are pervasive and longstanding, yet they continue to vex companies trying to comply with them. Regulators have hit virtually all large banks, and many nonbanks, with BSA/AML-related enforcement actions, resulting in large fines...
C-Suite ReviewJohn P. Kromer quoted in PaymentsJournal article, “The BCFP’s 'disclosure sandbox' is shovel ready – Who will be the first!”
John P. Kromer was quoted on November 28, 2018 in a PaymentsJournal article, “The BCFP’s 'disclosure sandbox' is shovel ready – Who will be the first!” which discussed the agency’s program that would allow companies to experiment with new product disclosures to consumers. The article stated, “The...
In The NewsC-Suite Financial Services Review: Breaking down (language) barriers: A practical approach to LEP borrowers
In roughly 5.3 million households in the United States, the head of the house doesn’t speak English as the primary language or has limited ability to understand it. But like most individuals seeking full participation in the U.S. economy, those with limited English proficiency need access to credit...
C-Suite ReviewC-Suite Financial Services Review: Doing your diligence: Monitoring of portfolio companies
Federal regulators have historically shied away from pursuing claims against private equity and venture capital firms for the activities of portfolio companies, but enforcement actions brought by the Consumer Financial Protection Bureau and the Department of Justice within the last year signal a...
C-Suite ReviewJohn C. Redding extensively quoted in PowerSports Finance article, “Miscommunication leads to issues with e-contracting in California”
John C. Redding was extensively quoted on November 20, 2018 in a Powersports Finance article, “Miscommunication leads to issues with e-contracting in California,” where he simplifies the miscommunication in regard to e-contracting compliance for lenders and dealers in California. — "Dealerships in...
In The NewsThomas A. Sporkin quoted in Law360 article, “SEC's whistleblower program hits its stride in 2018”
Thomas A. Sporkin was quoted on November 19, 2018 in Law360 article, “SEC's whistleblower program hits its stride in 2018,” which discussed the SEC whistleblower program’s success and the proposed amendments. The article stated, “Since the program began, whistleblowers have helped the SEC secure...
In The News"Intra-franchise no-poach agreements: Recent developments and trends" by Douglas F. Gansler, Adam Miller, and Scott T. Sakiyama (Bloomberg Law)
Washington Attorney General Bob Ferguson has obtained binding settlement agreements from 23 prominent franchisors in the nine months since he announced an initiative to eliminate no-poach clauses nationwide, and he has already expanded beyond the fast-food industry. Scrutiny of the clauses, which...
ArticlesDaniel P. Stipano quoted in ACAMS article, “US bankers question which corporate services trigger CDD rule, and when”
Daniel P. Stipano was quoted on November 15, 2018 in an ACAMS article, “US bankers question which corporate services trigger CDD rule, and when,” which discussed the difficulty for U.S. financial institutions to apply the customer due-diligence rule when handling complex corporate transactions. The...
In The NewsThomas A. Sporkin quoted in S&P Global Market Intelligence article, “Wall Street still worries SEC's massive trading database could be hacked”
Thomas A. Sporkin was quoted on November 14, 2018 in a S&P Global Market Intelligence article, “Wall Street still worries SEC's massive trading database could be hacked,” which discussed Wall Street’s skepticism about the security of the Consolidated Audit Train (CAT), the SEC’s new trading...
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