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Banking Law

Bank Lawyers Blog

Commentary on Banking Law

Post Frequency: 10.2/day

Last Entry: March 30, 2011 at 23:38:00

No Multi-Factor Authentication Equals Negligence?

Posted on September 09, 2009
Remember the multi-factor authentication guidelines for online banking that the FFIEC adopted a few years ago? The ones that bank were supposed to have complied with by the end of 2006? The ones we last posted about here? Believe it...

An Unwritten Rule Wreaks Havoc

Posted on September 08, 2009
On the heels of a post of a couple of weeks ago, which related the sorrowful tales of disappointed applicants for de novo bank charters who have been left at the alter by the FDIC, I received an e-mail from...

From The Horse's Mouth

Posted on September 07, 2009
One session during the business meeting of the National Association of Industrial Bankers on August 21 consisted of a presentation by local representatives of the FDIC and the Utah Department of Financial Institutions as to their "regulatory hot buttons...

Competition Is The Best Protection

Posted on September 03, 2009
As the power of the state increases we must declare with regret?a respectful regret, that?s understood of course, for we are respectful citizens?that this All-Powerful Being does not gain in morality as much as it gains in power. ---Georges Bernanos,...

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Industrial Banks: Take A Long Hard Look

Posted on September 02, 2009
While sitting around, exploring all the wonderful features and applications of my new I-Phone, I began to reminisce of days gone by, days of long ago. In other words, I was thinking of the week before last when I spent...

Culling The Herd

Posted on September 01, 2009
The "disaster" that Colorado's Director of Real Estate, Erin Toll, warned about a couple of months ago, has come to pass. The Colorado Division of Real Estate on Monday inactivated 4,560 mortgage broker licenses, about half of the licenses in...

Loss Sharing: A Tempest In A Teapot

Posted on August 31, 2009
A front page story in today's The Wall Street Journal must have thrown a lot of people off their feed, judging by the vitriol hurled about in the online comments section to that article. A superficial reading of the beginning...

FDIC Making It Even Harder For De Novo Banks

Posted on August 30, 2009
Regulators, like most of the rest of us, are adept at fighting the last war. Friday's release of Financial Institutions Letter 50-2009 is a classic case of slamming the barn door after the horses are loose. The policy outlined in...

Filled With Inertia

Posted on August 26, 2009
This past January we related the sad tale of a de novo bank charter applicant who spent $2 million in organizational costs before the FDIC finally got around to telling it what the FDIC should have told it to begin...

The Best Umbrella

Posted on August 25, 2009
The head of a Big 3 financial institutions consulting practice group was relaxing over cocktails with a friend of mine and me almost ten years ago and made one of the classically cynical remarks that drives clients berserk. We were...

Dead Man Taking

Posted on August 24, 2009
A couple of weeks ago, former disgraced Wall Street analyst Henry Blodget, a man flushed from his perch by The Sheriff of Wall Street, Eliot Spitzer, sat down with the former disgraced Attorney General and Governor of New York and...

Dead Man Talking

Oversharing

Posted on August 23, 2009
Although this article does not discuss problems that are confined to employees of banks, it's apropos of a talk I gave Friday on, among other related topics, the problems that can arise when employees of banks use social media. According...

Heading For The Hills

Posted on August 18, 2009
The blog will be on vacation for the rest of this week. I'm headed to Utah for the annual convention of the National Association of Industrial Banks and the Utah Association of Financial Services. They've asked me to speak on...

With Friends Like These

Posted on August 17, 2009
FinCri Advisor recently ran a story about private equity investors and how they?re making it expressly clear that they?ll bow out of transactions to buy failed banks from the FDIC unless major changes are made to the policy recently proposed...

It's Seriously Like Bizarro World

Posted on August 12, 2009
The news late last week that Senators Dodd and Conrad skated on charges that they violated US Senate ethics rules arising out of their being "Friends of Angelo's" hardly took the country by surprise. A typical comment in The Wall...

Snark Attack

Posted on August 11, 2009
A banker friend uttered the obscene phrase "open bank assistance" the other day and wondered why investors with as much "pull" as Carl Icahn and Robert Rowling have apparently not been able to "pull off" a rare open bank assisted...

One Too Many Allegations

Posted on August 10, 2009
Another stunt started with a bang by Eliot Spitzer was completed by the SEC with a whimper last week. Hank Greenberg, the former AIG CEO who refused to settle with Spitzer or the SEC in 2006 when AIG bit the...

Trolling for Tin Foil Hats

Posted on August 09, 2009
Jr Deputy Accountant (aka Adrienne Gonzalez) wrote a short post Friday for the Going Concern blog that raises an auditor's red flag about the "going concern" viability of one of bedrocks of the nation's financial stability. No, not Warren Buffet,...

Pay Masters of the Universe

Posted on August 05, 2009
Sheila Bair publicly aligned herself with Barney Frank today on the need for curbs on executive compensation, which comes as absolutely no surprise to anyone who has watched her consistent maneuvering to please the radical left faction of the Democratic...

Bairing Her Claws

Posted on August 04, 2009
Rolfe Winkler gave Sheila Bair some kudos today for her testimony before Congress this week, including for her demonstration of a high level of testosterone in telling potty-mouthed Tiny Tim Geithner that he can utter obscenity-laced tirades until his mouth...

Arizona's Law of Unintended Consequences

Posted on August 03, 2009
Bankers and realtors are clawing and scratching at each other again, this time in Arizona over a new law that takes effect September 30 and that removes that state law's "anti-deficiency" protection for homes owned by borrowers who have not...

A Minor Irritation Blossoms Into A Major Headache

Posted on August 02, 2009
While this blog was bogged down with the trivial pursuits that customarily fill its days, it neglected a major news story from the past two weeks, namely the David versus Goliath victory of the owner of the web site "Goldmansachs666.com"...

TARP Takers Are Tired

Posted on July 29, 2009
Banks who took TARP recapitalization investments and hung on to them have had it with being poor mouthed by pinheads in the nation's capitol. According to FinCr Advisor, they're getting so gosh darn tired of being subject to media "gotchas"...

Countrywide Continues To Pay The Piper

Posted on July 28, 2009
In February of this year, Colorado?s Attorney General proudly announced that ?Colorful Colorado? had squeezed $6 million out of Countrywide Financial Corp. for alleged violations of Colorado?s Consumer Protection Act, arising out of Countrywide?s subprime mortgage lending in that state...

Mile High Mortgage Brokerage "Disaster"

Posted on July 27, 2009
In 2006, we reported on the trouble that Danny Payne, then commissioner of the Texas Department of Savings and Mortgage Lending, was having with mortgage brokers who couldn't pass a basic test of compliance knowledge that was required by Texas...

Bair Turns The Corner

Posted on July 26, 2009
According to last Friday's The American Banker, when it comes to working Congress, Sheila "Care" Bair is a grand master and guys like Tiny Tim Geithner haven't yet mastered checkers. Not even Chinese checkers. The Change We Have Been Waiting...

Barney Ain't To Blame

Posted on July 23, 2009
A reader sent me a link to a video of an interview with Barney Frank in which Barney engages in rapid-fire rewriting of history, and asked me what I thought of it. I thought it was business as usual for...

Cramer v. Kramer

Posted on July 22, 2009
When Jim Cramer bashes Sheila Bair, I am reminded of the famous saying "The enemy of my enemy might still be a butt-head." Cramer and his sock puppet staff writer are put out that Sheila failed to extend a helping...

CRE Tsunami

Posted on July 22, 2009
Yesterday's The Wall Street Journal disclosed a frightening factoid that those of us who represent community and regional banks have been aware of for some time now (unfortunately, for some of our clients). U.S. banks have been charging off soured...

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