Wednesday, April 16, 2014

BNA INSIGHTS: 2012: Annus Horribilis for the Banking Industry

January 22, 2013 in BNA's Banking Report · Leave a Comment 

The year 2012 proved to be an annus horribilis for the banking industry.. This essay analyzes the most significant enforcement developments in 2012 and assesses the prospects for heightened scrutiny and increased enforcement action against the banking industry in 2013…

HSBC Agrees to Pay U.S.$1.9 Billion to Resolve Money Laundering Case

December 19, 2012 in BNA's Banking Report · Leave a Comment 

The London-based HSBC Group and HSBC Bank USA have agreed to pay $1.9 billion and enter into a deferred prosecution agreement (DPA) to resolve charges of money laundering and doing business with countries subject to U.S. sanctions…

Federal Reserve Proposes Guidelines for Foreign Banks in Keeping with U.S. Bank Capital Standards

December 19, 2012 in BNA's Banking Report · Leave a Comment 

Big foreign banks would face capital standards applied to their U.S. counterparts and be required to maintain a 30-day buffer of highly liquid assets under a proposal Dec. 14 by the Federal Reserve that makes significant change in its regulation of overseas lenders…

Fed to Overhaul Regulation of Foreign Banks, Eyeing Three-Part Framework

December 4, 2012 in BNA's Banking Report · Leave a Comment 

The Federal Reserve Board plans to overhaul how it regulates the U.S. operations of large foreign banks, outlining a three-part framework based on a new holding company structure, uniform capital and stress-testing requirements, and liquidity standards…

Consumer Financial Protection Bureau’s First Enforcement Action Penalizes Capital One for Deceptive Marketing

July 26, 2012 in Banking Report · Leave a Comment 

Capital One Financial Corporation will pay $60 million in penalties to financial regulators and set aside $150 million to provide refunds to credit card customers who were subjected to allegedly deceptive telephone marketing…

Consumer Financial Protection Bureau Adopts Final Rule to Protect Privileged Bank Information

July 9, 2012 in Banking Report · Leave a Comment 

The Consumer Financial Protection Bureau (CFPB) has moved ahead with a final rule on the protection of privileged information submitted by banks and other financial institutions during the supervisory process, despite industry concerns about its effectiveness.

BNA INSIGHTS: Federal Reserve Opens the Door to Increased Chinese Investment in U.S. Banking Organizations

June 13, 2012 in Banking Report · Leave a Comment 

On May 9, 2012, the Federal Reserve Board (“FRB”) released three orders approving investments in the U.S. banking market by entities based in China…

BNA INSIGHTS: Review of 2011 Bank Enforcement Actions and Trends

June 13, 2012 in Banking Report · Leave a Comment 

In 2011, the federal banking agencies issued over 1200 formal enforcement actions, the second-highest total in their history…

BNA INSIGHTS: The Consumer Financial Protection Bureau’s Authority to Regulate ‘Abusive’ Consumer Financial Products and Services

December 15, 2011 in Banking Report · Leave a Comment 

The Bureau of Consumer Financial Protection (CFPB) has been given a broad and vaguely-defined power to prohibit and punish “unfair, deceptive, and abusive financial practices.”…

BNA INSIGHTS: Claims of Excessive Risk Taking by Bank Directors and Officers Are in the Eye of the Beholder

November 8, 2011 in BNA's Banking Report · Leave a Comment 

This is the second of a two-part series analyzing the historical context beneath the Federal Deposit Insurance Corporation’s lawsuits against directors and officers (D’s & O’s) of banks that have failed since 2008. Part I examined statutory and common law standards of liability as they have developed since the S&L crisis of the 1980s and 1990s (97 BBR 762, 11/1/11). Part II examines the nature of claims asserted by regulators against D’s & O’s of institutions that failed during that prior crisis, the issues of standard of liability for D’s & O’s, whether the business judgment rule applies, what conduct the FDIC seeks to use as a basis for liability in the 15 lawsuits it has filed since 2008, and what the litigation might portend for D’s & O’s of banks that have thus far made it through the most turbulent financial crisis since the Great Depression.

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