Bank Law Monitor

Bank Law Monitor

A Legal Blog for the Financial Services Industry

Category Archives: Banking

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Core Considerations for Core Contracts

Posted in Banking
Negotiating the terms of a core processing contract makes haggling over a used car seem like child’s play. For most banks, the reality is stark—you might get some wiggle room on price if you’re willing commit to a longer term. You might also get a few changes on issues that “really matter.” But with only… Continue Reading

Banks Fight Back Against ADA Website Claims

Posted in Banking
What do financial institutions, restaurants, and clothing stores have in common? They’re the most recent targets of demand letters from plaintiffs’ law firms threatening lawsuits because the institution’s website supposedly violates the Americans with Disabilities Act (ADA). These law firms then offer to improve the accessibility of the institution’s website for a hefty fee. They… Continue Reading

The Tension Between Financial Institutions and Recreational Marijuana Businesses

Posted in Banking, Marijuana
To date, eight states and the District of Columbia have legalized recreational marijuana. As you might expect, there are countless key players and businesses involved in the marijuana supply chain, including producers, processors, transporters, retailers, and in some jurisdictions, distributors. In Washington State alone, total sales since the state’s legalization of recreational marijuana have exceeded… Continue Reading

OCC Invites Fintech Companies to Become Special Purpose National Banks

Posted in Banking, Banking Technology
Last week, the Office of the Comptroller of the Currency (OCC) officially opened its doors to financial technology companies and encouraged them to apply to become “special purpose” national banks. The premise is simple—become a national bank, abide by the OCC’s rules and regulations, and so-called “fintech” companies can avoid much of the thicket of… Continue Reading