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BankBCLP

Bank BCLP is a financial services industry blog managed by our firm’s banking lawyers. 2021 is the blog’s thirteenth year in publication. Attorneys posting to Bank BCLP explore a wide variety of topics that impact the industry. For the latest updates on bank regulatory changes, litigation impacting the industry, trends to be mindful of, and various other industry updates, presentations and commentary from our attorneys, turn to Bank BCLP.

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1,313 Results
Vetting FinTechs as Business Risk Partners: OCC Bulletin
September 7, 2021

Innovation is a key to competitive advantage and keeping pace with consumer digital banking preferences. Increasingly, banks are engaging the services of fintech’s who can deliver certain information and services in a more agile environment, putting banking services at consumers’ fingertips. Some banks are entering into strategic alliances to ensure their platforms keep a competitive edge in the coming months and years. From a risk management and regulatory supervision/enforcement perspective, banks need to understand the specific services and capabilities of their partners and the risks involved. Last month, the OCC, the FDIC and the Federal Reserve released a joint bulletin “Conducting Due Diligence on Financial Technology Companies: A Guide for Community Banks.” OCC Bulletin 2021-40.

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Sharper Lines Mean Tighter Nets: How the FinCEN’s Latest Priorities are Another Step to Increased Enforcement
July 9, 2021

In the latest sign that the federal enforcement apparatus is slowly but surely training its sights on white-collar professionals and businesses, particularly financial services, the Financial Crimes Enforcement Network (“FinCEN”) published a list of priorities last week. For the last few years, prosecutors have aggressively pursued allegations of corruption and fraud – at times too aggressively, in the views of many federal judges. Executives willing to roll the dice at trials have increasingly found receptive audiences in judges who have chastised prosecutors for bringing criminal charges where the lines demarking unlawful conduct were not so clearly drawn. The publication of the FinCEN priorities is another step in drawing those lines.

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BCLP Sponsors Banking Governance Best Practices Survey
May 13, 2021

Bryan Cave Leighton Paisner was pleased to sponsor the 2021 Governance Best Practices Survey, conducted by Bank Director. BCLP Partner Jim McAlpin worked with Bank Director in framing the questions for the national survey and interpreting the results. Bank Director shared the results May 10, and featured the results in their weekly newsletter, The Slant. An article on the survey and related topics will be published byBank Director this summer.

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Conversations about Banking: An Interview with Greg Morse
April 7, 2021

This month we continue our “Conversations about Banking” series. The series will consist of video conversations with leaders and influencers in the banking industry about topics of current interest. We hope you will enjoy and find benefit in this new aspect of BankBCLP.

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Lessons Learned from New York’s Second Cybersecurity Action
April 1, 2021

The New York Department of Financial Services (NYDFS) has announced its second regulatory enforcement action against a regulated entity (a New York licensed mortgage banker and loan servicer) for violating NYDFS’s Cybersecurity Regulations. The action involved the mortgage banker’s failure to report a data breach – a breach caused by an employee overriding the company’s multi-factor authentication (MFA) protocol – enabling intruder access. The company agreed to pay a $1.5 million fine and take several actions to bolster its cyber risk and assessment practices.

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Conversations about Banking: An Interview with Jon Winick
March 25, 2021

This month we continue our “Conversations about Banking” series. The series will consist of video conversations with leaders and influencers in the banking industry about topics of current interest. We hope you will enjoy and find benefit in this new aspect of BankBCLP.

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