Media Mentions – April 25, 2014

April 25, 2014

Authored by: Bryan Cave

With attorneys and staff worldwide, Bryan Cave attorneys are often quoted in the news. Recent mentions of Financial Institutions group attorneys include:

Rinearson in AFP Exchange

New York Partner Judith Rinearson authored an article on the future of bitcoin and virtual currency for the April edition of AFP Exchange magazine, by the Association for Financial Professionals. Her article was part of the publication’s annual payments issue. “Can virtual currencies be regulated in a manner that protects consumers, merchants, our payment systems and national security, while at the same time not ‘killing the golden goose’ through overly burdensome or unfeasible regulatory requirements?” Rinearson wrote. “I believe the answer is yes….However, such regulation should be imposed with a light hand and reasonable steps must be taken quickly.”

Shumaker in Bank Safety & Soundness Advisor

Atlanta Associate Michael Shumaker was quoted extensively April 14 by the Bank Safety & Soundness Advisor concerning top misconceptions in vendor management. After all the talk from regulators over the growing risks and expectations of managing third-party relationships, some banks still seem to think the guidance does not apply to them. “Probably the most important thing for banks to recognize is that things have changed, and that the regulatory expectations of banks with respect to the integration of risk associated with vendor contracts, those expectations have changed,” Shumaker said. “You can outsource the activity, but you cannot outsource the risk. Banks need to recognize that having a vendor conduct the activity does not change their obligation to manage the risk of the activity.”

Stolz in Bank Safety & Soudness Advisor

DC Staff Lawyer Courtney Stolz authored an article published in the May-June edition of Western Banker concerning consequences of the Target data breach. “The fallout for banks from the Target data breach is significant and ongoing,” she wrote. “According to public reports, the Target data breach compromised 40 million cardholders’ credit and debit card numbers and 70 million customers’ phone numbers and e-mail addresses. What should community banks expect and how should they respond?” Click here to read the full article.

Wheeler in Lending & Credit Digest

San Francisco Partner Daniel Wheeler authored an article for the April edition of Lending & Credit Digest, by the Western Independent Bankers Association, concerning choices banks have in designing a prepayment fee that fairly and properly compensates the bank for hedging costs incurred when loans prepay or default. Wheeler outlines the choices available to banks to secure good credit and meet profitability hurdles and provides recommendations and analysis. Click here to read his article.