01.29.20
As of January 24, 2020, the CFPB issued a Policy Statement setting forth its intent regarding future supervisory and enforcement actions applying the Dodd-Frank Act’s prohibition on “abusive” conduct. This Policy Statement lays out a framework for the CFPB to provide clarity in the future as to what conduct is and is not “abusive”, and indicates that the CFPB wishes to ensure businesses, including banks, are not refraining from offering beneficial and innovative new products and services that would benefit consumers for fear of having the CFPB declare the product or service abusive.
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12.05.19
On January 1, 2020, recreational marijuana becomes lawful in Illinois, making it the eleventh state in the country to legalize marijuana for recreational use.
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06.12.19
The most frequently asked question of Wisconsin bankers in 2019 thus far: should I bank customers engaged in hemp or CBD-related activities? Here’s the bottom line: whether or not you choose to bank these customers, and the extent to which you bank such customers, is a business decision.
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Recently, some banks have received demand letters from lawyers claiming that they have discriminated against customers (or potential customers) with disabilities by failing to provide websites or mobile applications that are accessible to individuals with disabilities
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11.06.18
Complying with TRID 2.0 became mandatory on October 1, 2018. TRID 2.0 represents the first set of major changes to the TILA/RESPA Integrated Disclosure Rule (TRID) since its inception back in 2015.
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Executives, managers and supervisors at banks are often asked to participate in interviews of potential candidates. More often than not, these individuals have received little or no training about what questions they must avoid in interviewing candidates.
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09.20.17
As all banks are now aware, Equifax, one of the three major credit bureaus, was hacked between mid-May and July 29, 2017.
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We have been reporting on developments on the Department of Labor (DOL) overtime exemption rules. As many bankers know, the final regulations that were issued in 2016 would have made a number of changes to the overtime exemptions, including increasing the salary threshold for key exemptions from $455 to $913 per week.
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The Department of Labor’s Fiduciary Rule has certainly been in the news lately, and has been the source of great confusion.
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