LexisNexis® Legal Newsroom
Which One of Us Is the Service Provider? The Dodd-Frank Act's Infinite Loop of Oversight

by Valerie L. Hletko and Sarah E. Hager A centerpiece of CFPB supervision is service provider oversight but assigning roles is not always straightforward. A lack of clarity may lead to duplicative, simultaneous oversight. While there is substantial guidance as to the what in service provider oversight...

Federal, State Law Preempts New York City Responsible Banking Act, Federal Court Rules

New York City’s Responsible Banking Act (RBA) is preempted by federal and state law, a federal court has ruled [subscribers can access an enhanced version of this opinion: lexis.com | Lexis Advance ]. Pursuant to the New York City Charter, only financial institutions that are designated “deposit...

Tribal Nations to Take Cannabis Cash?

According to Bloomberg, the Native Americans are getting ready to accept cash earned by cannabis growers and sellers who are not able to deposit it in regular banks due to the still federally illegal nature of what they are doing. The report indicates that only about 220 of the 7600 American banks accept...

More States Looking to ‘Go Green’ In Spite of Banking Woes

by Rich Ehisen This Tuesday, Ohio voters will go to the polls to decide whether to legalize recreational and medicinal marijuana use. But even if the Buckeye State becomes the 24 th (along with the District of Columbia) to legalize some form of marijuana, it will not solve one of the most significant...

Supervision of International Bank Branches-A Global Analysis: United States

by Kathleen Scott 1. How can international banks operate in your jurisdiction? Non-US banks can engage in banking activities in the US through direct offices such as branches, agencies and representative offices or through bank subsidiaries. Branches and agencies can engage in banking activities...