Premier Banking Law News and Insights

In Vogel v. McCarthy, Burgess & Wolff, the United States District Court for the Northern District of Illinois (the "Court") granted summary judgment to a debt collector on a debtor's claim that failure to itemize debt in a collection letter was a violation of the Fair Debt Collection Practices Act ("FDCPA"). Plaintiff Erin...

Read More

The Federal Reserve Board, the FDIC, and the OCC ("banking agencies") revised the regulatory capital rule in order to limit the interconnectedness of large banks and reduce systemic risk. The final rule applies to "advanced approaches banking organizations" and requires deductions from their regulatory capital when they are investing in certain unsecured...

Read More

A national bank settled OCC charges for failing to properly oversee the decommissioning of two data centers involved with the bank's wealth management business. According to the OCC findings in the Consent Order, in 2016, the bank failed to adequately assess the risks involved in (i) decommissioning its hardware, (ii) using third...

Read More