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.

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With attorneys and staff worldwide, Bryan Cave often makes the news.  Recent media mentions of attorneys in the Financial Institutions Group  include:

Walt Moeling in SNL

Walt Moeling was quoted August 11 in an SNL blog post, a product of SNL Financial, regarding the slow down in bank failures (even as the problem bank list has shown no signs of shrinking).  Moeling said a number of banks have nonperforming loans on their books that are current, but they have had time to write down the loans to levels closer to market values.  In addition, some banks with a high likelihood of failing have recapitalized and should survive.  “I think it’s strengthening.  Banks that were really clamped down are coming out,” he said.  “Not that all the problems are over.  Some have bled so much that they’re not going to get a transfusion.”

John ReVeal in Bank Safety & Soundness Advisor

John ReVeal was quoted August 1 by the Bank Safety & Soundness Advisor concerning the final rule on preemption issued recently by the Office of the Comptroller of the Currency (OCC) — a last statement on what has been an opaque, legalistic debate carried out between the U.S. Treasury Department and the OCC.  At stake were OCC powers that allow the agency to exempt (or preempt) national banks and thrifts from state consumer finance laws.  Dodd–Frank legislation codifies what many consider to be a new, stricter standard.  But does the Dodd-Frank standard compel the OCC to change its preemption standards?  “What community banks can do is breath a momentary sigh of relief,” ReVeal said.  “Preemption still exists.  Everything we believed about preemption before Dodd-Frank is still true.”  Now the OCC’s view will be tested in the courts.  “We just need to watch the new laws and see how that plays out,” ReVeal noted.

On November 15, 2010, the Federal Deposit Insurance Corporation (FDIC) issued a final rule to implement Section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”). Section 343 of the Act provides for unlimited deposit insurance for “noninterest-bearing transaction accounts” through December 31, 2012.

In the months since the FDIC issued its final rule, we have observed some confusion in the banking industry as to exactly what kinds of accounts will be considered to be “noninterest-bearing transaction accounts.” It is not the case, as some seem to have believed, that the definition covers only accounts offered to businesses. Consumer accounts can qualify for the unlimited deposit insurance, if properly structured. For some banks, this may mean a change to their existing deposit agreement terms.

FDIC regulation now defines “noninterest-bearing transaction account” as any deposit or account maintained at an FDIC insured bank or other depository institution with respect to which all three of the following are true:

(i) no interest may be paid or accrued on the account;

(ii) the depositor must be able to make withdrawals by using a negotiable or transferable payment instrument, payment order of withdrawal, telephone or other electronic media, or other similar items for the purpose of making payments or transfers to third parties; and

(iii) The depository institution may not reserve the right to require advance notice of intended withdrawal.

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Consumer Protection Act & What It Means to You

Wednesday, October 6, 2010 11:00 AM – 12:00 PM EDT

The Dodd–Frank Wall Street Reform and Consumer Protection Act significantly modified the consumer protection landscape. The act created a new financial protection regulator with broad enforcement powers, modified the federal preemption standard applicable to national banks and federal savings associations and added a wide range of anti-predatory and mortgage reform laws.

Join experts from Bryan Cave LLP and BKD, LLP to hear what this reform could mean for you now and in the future.  Our presenters will discuss the Consumer Financial Protection Bureau, federal pre-emption standards, new mortgage loan originator compensation rules, debit card interchange fee limits, numerous new mortgage-lending rules and more.

If you are interested in attending, please register online for this free webinar.

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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.

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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 Bryan Cave’s financial institutions practice include:

Bryan Cave LLP welcomes John ReVeal  and Jonathan Hightower to the firm’s Financial Institutions group.  Both Mr. ReVeal and Hightower returned to Bryan Cave on on March 1, 2010.

John ReVeal

As a former Powell Goldstein LLP partner, Mr. ReVeal brings a wealth of experience in regulation of state and federally chartered banks and savings institutions, credit card and prepaid card issuers, mortgage lenders, consumer finance companies and other providers of financial services and products.

“The D.C. market is ripe with opportunities in the banking and finance sectors, and under John’s direction, the D.C. office will certainly expand in these areas of business” said Walt Moeling, Atlanta partner and co-head of the Financial Institutions group.  “We also look forward to having John’s nationally recognized expertise available to our financial services clients located throughout Bryan Cave’s footprint,” Moeling added.

Prior to re-joining Bryan Cave, Mr. ReVeal focused on financial institution regulation and transactions as a partner in another law firm, advising banks and savings institutions on consumer protection regulations, organizational and transactional matters, bank and thrift powers, federal preemption, exportation of rates and charges, and financial institution licensing issues. He facilitates the purchase and sale of banks, thrifts, and non-bank financial institutions.  Mr. ReVeal also advises on consumer protection regulations.

Mr. ReVeal earned his Juris Doctor in 1990 from the University of California at Berkeley School of Law, attending his third year at Harvard Law School.  He earned a Bachelor of Arts from the University of Washington in 1987.

Jonathan Hightower

A former Powell Goldstein LLP associate, Hightower re-joined the firm’s Financial Institutions group on March 1, 2010.

Prior to re-joining the Firm, Mr. Hightower focused on financial institution, corporate and regulatory matters  in a Texas office of another law firm.  Throughout his career, he has represented financial institutions in mergers and acquisitions, capital raising transactions and in all types of regulatory matters.  Recently, his practice has focused on capital markets transactions and on advising financial institutions facing regulatory challenges. His corporate and securities work includes public and private debt and equity securities offerings and SEC reporting. Mr. Hightower also advises financial institutions on regulatory and compliance issues, tax planning, and compliance in corporate governance.

Mr. Hightower received his J.D. with honors in 2004 from University of Georgia School of Law and his B.B.A. with honors in 2001 from the University of West Georgia.