Banking Update

“Location, location, location” is a common phrase used in connection with real estate financing, but don’t forget that “location, location, location” is equally as important in connection with agricultural loans secured by personal property. A lender needs to know where the collateral is located and needs to make sure it […]

The CFPB’s latest “Supervisory Highlights” Report provides some useful information relating to the regulator’s recent supervisory actions and highlights areas of focus related to compliance management systems, mortgage servicing and fair lending.   Compliance Management Systems The CFPB has long taken the position that compliance management is vital to prevention […]

The Federal Reserve has appealed a district court decision that would have vacated the Fed’s Regulation II, which implements the Dodd-Frank Act’s interchange fee cap and dual routing rule for debit cards.   On July 31, 2013, the United States District Court for the District of Columbia issued an opinion […]

The Consumer Financial Protection Bureau (“CFPB”) recently issued a bulletin on the Fair Credit Reporting Act’s (“FCRA”) requirement that furnishers of credit information investigate disputes and review all relevant information (“Bulletin”).1 Financial institutions are the most prominent “furnishers” covered by the FCRA, and the Bulletin has prompted some banks and […]

During the 2013 legislative sessions, both Nebraska and Iowa enacted several pieces of legislation that could affect banks and their customers. This article provides brief summaries of several pieces of legislation.