With offices all over the world, Bryan Cave attorneys are often quoted in the news. Recent Media Mentions of Financial Institutions Group attorneys include:
McAlpin on BankDirector.com
Atlanta Partner Jim McAlpin authored the first in a series of articles concerning best practices of bank boards Oct. 25 for BankDirector.com. McAlpin said “there has never been a greater need for well-functioning, informed and courageous boards of directors of banks and bank holding companies. There has also never been a more important time for board members to keep in mind that their responsibilities can be boiled down into one simple goal: the creation of sustainable long-term value for shareholders.” This also was the lead article in the BankDirector November e-mail newsletter. Click here to read the full text. The second installment in the series will be published by BankDirector in early December.
Moeling in American Banker, Atlanta Journal-Constitution
Atlanta Partner Walt Moeling was quoted at length Nov. 17 by American Banker regarding the new perception businesspeople have toward serving on a bank board. “Most of them joined because it is one of the great clubs in an area and there is an opportunity to help people in your community. But after four years of foreclosing on your neighbors, watching your friends lose their jobs and seeing your investment lose its value, you’re done,” said Moeling, adding that banks still can find local people to serve, but those directors will have to be prepared to roll up their sleeves a lot. “The compliance burden is huge. Regulators are going to expect directors to be on top of things. The meetings will be longer and more detailed. It will be a lot more demanding than it ever was in the past and it is not going to be as much fun.” He also was quoted Nov. 7 in The Atlanta Journal-Constitution concerning the reasons for the failure of Decatur First Bank in Decatur, Ga. The bank’s quest for growth (it opened subsidiary banks in the mid-2000s in the once-booming Lake Oconee area, about 80 miles east of Atlanta) provided a windfall for a few years until the housing market crashed.
ReVeal on BankDirector.com
DC Counsel John ReVeal was interviewed for two videos now being used on the BankDirector.com Web site. One video focuses on the Bank Secrecy Act (BSA) and how violations are perceived today by regulators. The other, which outlines what a bank board should know about BSA, has become the group’s official training piece concerning BSA and is located in a password-protected section. Click here to view ReVeal’s video on BSA and regulators.
With attorneys and staff worldwide, Bryan Cave often makes the news. Recent media mentions of attorneys in the Financial Institutions group include:
Andreassen on Moneylaundering.com
DC Associate Kristine Andreassen was quoted June 7 by Moneylaundering.com regarding a report from the U.S. Senate Caucus on International Narcotics Control in which lawmakers criticize the U.S. Treasury Department for failing to adequately implement a portion of the Credit CARD Act of 2009. The lack of regulations governing the cross-border transportation of prepaid access products has hamstrung American efforts to combat Mexican drug-trafficking organizations, according to lawmakers. Andreassen said that the Financial Crimes Enforcement Network (FinCEN) ultimately must decide whether to require individuals carrying prepaid access devices to declare the actual or potential maximum value the products have before crossing the border. “One of the issues FinCEN has to account for is cards that cross the border empty, and are then reloaded on the other side,” she said.
Moeling in Atlanta Journal-Constitution, Bank Investment Consultant
Atlanta Partner Walt Moeling was quoted May 27 in The Atlanta Journal-Constitution regarding Georgia Rep. Greg Morris, who has been fined $5,000 by federal bank regulators after he made overdrafts not allowed because of his role as a bank director. Moeling said it’s a relatively minor violation. “Director overdrafts seldom impose any threat to the safety and soundness of a bank,” he said. “Nonetheless they are clear violations and the regulators will act when they find repeat offenders.” He also was quoted May 25 by Bank Investment Consultant regarding a growing group of acquisition-minded community banks, for whom fee-based businesses are looking like a more attractive way to bolster revenue than are traditional bank deals.
Rinearson in Franchise Law News
New York Partner Judith Rinearson authored an article in the current edition of Franchise Law News with tips on how to avoid the legal traps of promotional certificates. A spate of class-action lawsuits claim that the short expiration dates popular with “Groupon-like” gift certificate programs violate applicable laws. “Just because you are compliant with federal law, don’t think you are off the hook,” she cautioned. “With care in structuring these programs, and with good, clear disclosures in all marketing materials, these Groupon-like gift certificate programs can be a true win-win for both consumers and retailers.”
With attorneys and staff worldwide, Bryan Cave often makes the news. Recent media mentions include Kristine Andreassen of the Financial Institutions Group in PayBefore News:
DC Associate Kristine Andreassen was quoted April 21 in PayBefore News on the recent settlement agreement approved with AT&T concerning its advertisement of rebate-related prepaid cards. Plaintiffs accused AT&T (formerly Cingular) of making misleading and unfair advertisements by displaying cell phones as discounted or free after rebate when, in fact, the rebate was distributed post-sale via a network branded prepaid card with limited terms for usage. Andreassen told the publication that this settlement should serve as another reminder of the importance of clear and conspicuous disclosures for all parties involved in rebate card programs. “Merchants using prepaid cards to distribute rebates aren’t usually thought of as having their own disclosure obligations, but clearly, they do,” she said.
With attorneys and staff worldwide, Bryan Cave attorneys often make the news. Sometimes media mentions highlight the firm’s involvement with notable clients, sometimes the individual accomplishments of attorneys and staff. Recent media mentions of attorneys in the financial institutions practice include:
Klingler in American Banker
Atlanta Associate Robert Klingler was quoted Aug. 4 by American Banker regarding the charges against Rep. Maxine Waters, and whether those charges might be of use to banks denied TARP funds. An ethics panel report alleges Waters may have broken rules when she helped a trade group arrange a meeting between then-Treasury Secretary Henry Paulson and executives of OneUnited Bank, an institution with financial ties to her husband and huge losses from the takeovers of Fannie Mae and Freddie Mac. Klingler said the government had a uniform standard for deciding TARP investments – essentially awarding funds to institutions that could prove their viability – and no one ever expected the system to be perfect. “We understand that the process will sometimes result in wrong outcomes,” he said, adding that those who believe they were treated unfairly could use the Waters investigation for “rhetoric” at best. “I don’t know that it is rhetoric that necessarily the public is happy with. Generally, the public is opposed to TARP. So hearing a bank whine about not getting TARP isn’t going to get the American public riled up.”
Moeling in National, Regional Publications
Atlanta Partner Walt Moeling was quoted in the August edition of US Banker on the moves being made by community banks to boost their capital ratios. “In this kind of market, the most successful banks that deal with their problems don’t just take one approach, they pull out the playbook,” Moeling said. “My most successful clients have cut expenses, sold branches, consolidated charters, disposed of nonbank activities.” Click here to read the full article. Moeling was quoted Aug. 10 by American Banker (reprinted by Bank Investment Consultant online) concerning a push of stock offerings expected this fall from community banks, particularly via private placements rather than public offerings. Click here to read the article. In addition, he was quoted Aug. 2 in The Atlanta Journal-Constitution regarding JPMorgan Chase & Co., which plans to open 10 new bank branches across the northern metro Atlanta area by the end of the year. Eight currently are under construction. Click here to read the article.
With attorneys and staff worldwide, attorneys in Bryan Cave’s financial institutions practice often make the news. Sometimes media mentions highlight the firm’s involvement with notable clients, sometimes the individual accomplishments of attorneys and staff. Recent media mentions include:
Andreassen, Rinearson in Business Lawyer
New York Partner Judith Rinearson and DC Associate Kristine Andreassen co-authored an article in the November issue of the ABA’s The Business Lawyer on the impact of state money transmitter licensing laws on prepaid payment products.
Garrett in MarketWatch
Kansas City Counsel Karen Garrett was quoted Dec. 23 by MarketWatch on a bill before Congress that would require big banks to pay into a $150 billion fund to be used to dismantle a failing bank thought so big or so interconnected that if it collapsed suddenly it would threaten the economy’s stability. The piece was picked up Dec. 27 by McClatchy News Service.
Klingler on National Public Radio
Atlanta Associate Robert Klingler was interviewed Dec. 29 on National Public Radio regarding bank failures, with a particular focus on Georgia banks.