Premier Banking Law News and Insights

On March 20, 2019, the Supreme Court unanimously ruled in Obduskey v. McCarthy & Holthus LLP that a business engaged in non-judicial foreclosure is not subject to all of the requirements and prohibitions applicable to "debt collectors" under the Fair Debt Collections Practices Act (FDCPA).1 Instead, the Court held that a business pursuing...

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The Financial Crimes Enforcement Network's ("FinCEN") Financial Action Task Force ("FATF") updated its list of jurisdictions with strategic anti-money laundering and combating the financing of terrorism ("AML/CFT") deficiencies. In an Advisory, FinCEN warned U.S. financial institutions that the list may affect their risk-based due diligence obligations concerning the affected jurisdictions. Cambodia was added to...

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CFTC Commissioner Dawn Stump proposed various measures for the CFTC to improve CFTC data protection. Ms. Stump stated that her aim is to ensure that the CFTC (i) collects only data required for its regulatory responsibilities, (ii) eliminates "duplicative reporting streams," (iii) considers alternative ways to access sensitive data and (iv) reviews...

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