Congress is once again considering repealing Section 1071 of the Dodd-Frank Act. On February 4 Congressman Roger Williams introduced legislation to repeal Section 1071. A similar proposal is expected in the Senate.
Banks are familiar with Section 1071, which…
Joint accounts provide flexibility to accountholders and ease administration for financial institutions by allowing husbands and wives, parents and children, and business partners to quickly access funds. Joint accounts allow parties to bypass obtaining powers of attorney and are easy…
Even before the next administration is sworn in, FDIC Vice Chairman Travis Hill is already signaling that changes are coming to the FDIC’s approach to regulating banks. The text of Vice Chair Hill’s speech is worth reading in its entirety,…
Over the last several months, banks all across Iowa have dealt with an increasing volume of fraudulent checks. The typical situation involves fraudsters intercepting a business customer’s check to a vendor. The fraudster then either (1) creates a counterfeit check,…
Banking used to be a straightforward business. Customers made their transactions at their local branch office, stored their valuables in a safe deposit box, and turned to their local bank manager for financial advice.
Today, change and disruption is the…
Banking used to be a straightforward business. Customers made their transactions at their local branch office, stored their valuables in a safe deposit box, and turned to their local bank manager for financial advice.
Today, change and disruption is the…
FinCEN has released an initial Small Entity Compliance Guide for Beneficial Ownership Information Access and Safeguards Requirements. Although the Guide is not very detailed at this point, here is what your small financial institution should know as of now.
On…
On January 1, 2024, the Corporate Transparency Act will require millions of U.S. companies to file first-time beneficial ownership information reports with the U.S. Department of Treasury Financial Crimes Enforcement Network. Over the last several weeks, Dickinson Law has covered some of the…
On January 1, 2024, the Corporate Transparency Act will require millions of U.S. companies to file first-time beneficial ownership information reports with the U.S. Department of Treasury Financial Crimes Enforcement Network. For the next several weeks, Dickinson Law will cover some of…
On January 1, 2024, the Corporate Transparency Act will require millions of U.S. companies to file first-time beneficial ownership information reports with the U.S. Department of Treasury Financial Crimes Enforcement Network. For the next several weeks, Dickinson Law will cover some of…
