Marc Duquette (CA)

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On October 5, 2017, Quebec Minister of Finance, Mr. Carlos Leitão, tabled in the National Assembly Bill 141 which will have significant effects on all institutions and intermediaries active in Quebec’s financial sector. To learn more please see our new online client briefing note.…
As more states legalize marijuana use, financial institutions face increased uncertainty about how to handle accounts opened by marijuana-related businesses (MRBs) in light of regulatory difficulties stemming from the obvious tension between state and federal law. Although the marijuana industry continues to rapidly grow, financial institutions have largely been sidelined by federal laws prohibiting the use of the financial system to violate the law. While federal regulators have issued regulatory guidance designed to encourage financial…
On January 19, 2017, Western Union Financial Services, Inc. agreed to pay civil penalties and restitution to victims of fraud totaling $586 million to resolve actions brought by the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN), Department of Justice (DOJ), and Federal Trade Commission (FTC) for violations of the Bank Secrecy Act’s (BSA) anti-money laundering (AML) requirements. The actions arose from allegations that Western Union violated the BSA by failing to (1) implement and…
Last month, Oklahoma Governor Mary Fallin signed into law a variety of bills affecting mortgage loan servicers. One bill of note, Oklahoma HB 1123, decreases the time in which a mortgage release must be filed after a mortgage has been satisfied from fifty (50) days to thirty (30) days. Moreover, if a mortgage holder fails to file a release within thirty (30) days after payment of the debt, borrowers may request in writing that…