BankBryanCave.com

Bank Bryan Cave

Retail

Main Content

March 2014 Client Alerts

March 31, 2014

Authors

Bryan Cave

March 2014 Client Alerts

March 31, 2014

by: Bryan Cave

Practice groups throughout Bryan Cave often prepare alerts on issues of interest to our clients and friends. Listed below are the Client Alerts published in March 2014.  Please click on the title to read the full text of the Alert.

The Evisceration of Attorney-Client Privilege for In-House Investigations?  District Court Rules that Internal Investigations Conducted Pursuant to Regulatory Law and Corporate Policy are Not Protected by Attorney-Client Privilege or the Work-Product Doctrine, published by the White Collar Defense and Investigations, Securities Litigation and Enforcement, and Government Contracts Client Service Groups, March 17, 2014.

Supreme Court Holds Severance Payments Subject to FICA Taxation, published by the Tax Advice and Controversy practice group, March 26, 2014.

Will the Supreme Court Curtail Securities Fraud Lawsuits This Term? published by the Broker-Dealer Litigation, Arbitration and Regulatory Practice and Investment Management groups, March 26, 2014.

Managing Legal Risks:  Trends in Mobile, Text Message, Fax

Read More

Bryan Cave Retail Banking Team

January 2, 2014

Authors

Bryan Cave

Bryan Cave Retail Banking Team

January 2, 2014

by: Bryan Cave

Drawing from diverse legal disciplines, Bryan Cave’s Retail Banking Team focuses on consumer compliance and contractual matters for banks and non-bank financial institutions. Whatever day-to-day legal assistance you need for consumer finance or banking services, we can provide prompt and accurate guidance.

We have many years of experience in all of the federal consumer banking regulation, and every day we work to stay current with the constantly changing regulatory environment. We will help you avoid the regulatory minefields. Our Retail Banking Team can assist your institution in all of the following areas:

  • Mortgage, credit card, retail consumer credit and other consumer lender licensing, disclosure, interest rate and fee, and consumer agreement reviews;
  • Consumer loan advertising reviews, including federal and state requirements and UDAP and UDAAP reviews;
  • Deposit account agreement reviews;
  • Deposit advertisement reviews;
  • Overdraft policies and disclosures;
  • Remote deposit capture agreements and policies;
  • Automated clearing house agreements;
  • Power of
    Read More

February 2014 – Bryan Cave Client Alerts

February 28, 2013

Authors

Bryan Cave

February 2014 – Bryan Cave Client Alerts

February 28, 2013

by: Bryan Cave

Practice groups throughout Bryan Cave often prepare alerts on issues of interest to our clients and friends.  Listed below are the client alerts published in January 2014.  Please click on the title to read the full text of the Alert.

Voluntary for Now:  Federal Cybersecurity Framework Likely to Become the Base-Line Requirement for Critical Infrastructure Organizations and, Potentially, Many Other Businesses, published by the National Security Data Privacy and Security Team, February 20, 2014.

Managing Legal Risks:  Trends in Data Privacy & Security Class Action Litigation, published by the Data Privacy and Security Team, February 27, 2014.

Bankruptcy Court Limits Credit Bid Right In An Unnecessarily “Rushed” Sale Process, published by the Bankruptcy, Restructuring and Creditors’ Rights Practice, February 14, 2014.

Proposed Regulation Would Limit Ability to Restrict Public Disclosure of Product Information Submitted to the CPSC, published by the Consumer Protection and Data Privacy Practice, February

Read More

March 2012 Client Alerts

April 24, 2012

Authors

Bryan Cave

March 2012 Client Alerts

April 24, 2012

by: Bryan Cave

9th Circuit Holds TILA Bars Rescission Suits Filed More Than 3 Years After Consummation

In McOmie-Gray v. Bank of America (9th Cir. Feb. 8, 2012), the Ninth Circuit Court of Appeals held that under the Truth in Lending Act (“TILA”), “rescission suits must be brought within three years from consummation of the loan, regardless whether notice of rescission is delivered within that three-year period.”  It ruled that the three year period in the Act is an absolute limitation on rescission actions and that the one year period for bringing claims applies only to damages actions and does not extend the time to file a claim for rescission even where the borrower has sent the Bank a written notice of rescission within three years of loan signing or “consummation.”  To learn more about the facts in this case and the Court’s decision, please click here to read the Alert published by the

Read More

February 2012 Client Alerts

March 6, 2012

Authors

Bryan Cave

February 2012 Client Alerts

March 6, 2012

by: Bryan Cave

FINRA Issues Guidance on Protection of Customer Accounts

A recent alert from the Financial Industry Regulatory Authority (“FINRA”) is encouraging broker-dealers to reexamine their policies and procedures relating to protection of customer assets and accounts.  FINRA Regulatory Notice 12-05 advises broker-dealers that FINRA has received an increasing number of reports of customer funds being stolen as a result of instructions e-mailed to firms from customer e-mail accounts that have been compromised.  With that notice, FINRA also issued an Investor Alert advising the public about the reported incidents.  To learn more about the Notice and Alert, please click here to read the Alert published by the White Collar Defense & Investigations and Securities Litigation & Enforcement Client Service Groups and Data Privacy & Security Team on February 6, 2012.

Reporting Cybersecurity Risks — New Obligations for Publicly Traded Companies 

Most companies are aware that they may be required to report data security breaches to consumers

Read More

November 2011 Client Alerts

December 19, 2011

Authors

Bryan Cave

November 2011 Client Alerts

December 19, 2011

by: Bryan Cave

FED Releases Second Set of FAQs on Durbin Rules

The Federal Reserve Board recently posted a second set of questions and answers to the “Frequently Asked Questions About Regulation II (Debit Card Interchange Fees and Routing)” on the Fed’s website.  This current release of FAQs has been merged with the previously published FAQs, with the newer questions annotated with the date added.  For a summary of the new issues addressed in the FAQs, please click here to read the Alert published by the Financial Institutions Client Service Group on November 28, 2011.

FinCen Issues FAQs and Holds Webinar on Prepaid Access Rule

The Financial Crimes Enforcement Network ( “FinCEN”) recently released a set of FAQs related to the final rule on prepaid access that was issued on July 29, 2011 (the “Rule”).  The FAQs are intended to provide interpretive guidance for the Rule, not supersede or replace any part of it.  FinCen also recently  gave

Read More

FinCEN Extends Compliance Date for Many Aspects of Prepaid Access Rule

September 12, 2011

Authors

Bryan Cave

FinCEN Extends Compliance Date for Many Aspects of Prepaid Access Rule

September 12, 2011

by: Bryan Cave

The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced on September 9, 2011, that it is extending the compliance date for most aspects of its final rule on prepaid access (the Final Rule). The Final Rule, which was published on July 29, 2011, was set to go into effect on September 27.

Compliance Date for Sellers of Prepaid Access Extended Until March 31, 2012

The provisions of the Final Rule applicable to “sellers of prepaid access” (Sellers) will become effective March 31, 2012. FinCEN states it received compelling information from the industry on the compliance challenges faced by Sellers, given that the Final Rule’s original effective date coincides with the back-to-school season and the beginning of the holiday shopping season. Many retailers impose a “lockdown” on their IT systems at this time of year, to accommodate peak retail sales and consumer traffic, which prevents any systems changes until

Read More

FinCEN Issues Final Rule on Prepaid Access

September 6, 2011

Authors

Bryan Cave

FinCEN Issues Final Rule on Prepaid Access

September 6, 2011

by: Bryan Cave

Retailers Issuing Gift Cards and/or Selling Other Companies’ Gift Card or Prepaid Cards Impacted

New anti-money laundering regulations that directly impact retail businesses that issue or sell gift cards or other prepaid cards have recently been released. These new regulations, known as the prepaid access “Final Rule,” currently effective on September 27, 2011, were issued by the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) and require the collection and verification of customer information when certain prepaid cards are sold or reloaded. Retailers issuing their own closed loop gift cards, or selling and reloading other companies’ open and/or closed loop gift cards may be significantly impacted by the new Final Rule. (Print-Friendly Version)

I. RETAILERS THAT ISSUE THEIR OWN “CLOSED LOOP” GIFT CARDS

Many retailers now issue (either directly or through a gift card company) their own gift cards useable solely to buy goods or services at their own

Read More

June 2011 Client Alerts

July 16, 2011

Authors

Bryan Cave

June 2011 Client Alerts

July 16, 2011

by: Bryan Cave

The Implications for FCPA Enforcement of the SEC’s New Whistleblower Rules

The SEC’s recent adoption of rules to implement the whistleblower program mandated by the Dodd-Frank Act has particular significance for enforcement of the Foreign Corrupt Practices Act.  For a discussion of the overall SEC enforcement context for the new whistleblower rules, a summary of the rules,  and a discussion of the key issues for FCPA enforcement, including recommendations that companies should take now, please click here to read the Alert published by the Global Anti-Corruption Team of the Securities Litigation and Enforcement  and International Trade Groups on June 22, 2011.

Supreme Court De-Certifies Largest Employment Discrimination Class Action In History

In Wal-Mart Stores, Inc. v. Dukes, the Supreme Court reversed a lower court’s decision to certify a nationwide class pursuing employment discrimination claims against the nation’s largest employer.  A 5-4 majority of the Court concluded that the class

Read More

May 2011 Client Alerts

June 23, 2011

Authors

Bryan Cave

May 2011 Client Alerts

June 23, 2011

by: Bryan Cave

Federal Judge in Missouri Dismisses Legal Challenge to Health Care Reform

The Judge in the U.S. District Court for the Eastern District of Missouri, Southeastern Division, entered an order dismissing a lawsuit filed by Lt. Gov. Peter Kinder that challenged the Patient Protection and Affordable Care Act.  Kinder et al v. Geithner et al. was filed in July 2010 by Kinder, joined in by six other Missouri residents, as a private citizen after the state’s attorney general declined to join other states in challenging the health care law.  To read more about the order in this case, please click here to see the Alert published by the Life Sciences and Health Care Client Service Group on May 3, 2011.

FTC Cracking Down on Affiliate Advertisers

In April the FTC filed 10 lawsuits against companies and individuals that run affiliate advertising websites.  These lawsuits come within two months of an earlier

Read More
The attorneys of Bryan Cave LLP make this site available to you only for the educational purposes of imparting general information and a general understanding of the law. This site does not offer specific legal advice. Your use of this site does not create an attorney-client relationship between you and Bryan Cave LLP or any of its attorneys. Do not use this site as a substitute for specific legal advice from a licensed attorney. Much of the information on this site is based upon preliminary discussions in the absence of definitive advice or policy statements and therefore may change as soon as more definitive advice is available. Please review our full disclaimer.