Banking Update

A preliminary list of rural and underserved counties released this month by the CFPB shows that many community banks that predominantly operate in rural counties in Nebraska and Iowa will qualify for special exceptions under a number of the Bureau’s new rules affecting mortgage lending practices. The first such rule, […]

On January 23, 2013, the Federal Financial Institutions Examinations Council (“FFIEC”) issued “Social Media: Consumer Compliance Risk Management Guidance” (the “Proposed Guidance”). Comments are due by March 25, 2013. After consideration of public comments, the regulatory agencies that make up the FFIEC (the “Agencies”) will issue final supervisory guidance to […]

Pundits sometimes jokingly refer to a garnishment subpoena mailed to a bank as a “valentine.” A bank with a judgment of its own to collect can send such “valentines” to other banks. This article provides tips for use by a bank of deposit account garnishments to collect its own judgment […]

Prices for agricultural commodities fluctuate. A producer attempts to mitigate this price risk through hedging. A lender attempts to mitigate the risks of loaning money to the producer by taking a security interest in producer’s commodity hedging accounts. The commodity broker provides the lender with a control agreement, and says […]

Congress has finally acted to address two issues that we have addressed in past issues of this Update. One issue we have addressed in the past that has impacted many banks involved frivolous class action lawsuits filed under the auspices of the Electronic Fund Transfer Act. Such claims involved users […]