Tag Archives: bank

Opening a Bank Account with a Smartphone—Dodd-Frank Roll-Back Making Online Banking Easier

President Trump recently signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act, which is already making waves in the financial sector for its repeal of certain Dodd-Frank provisions that were passed in the wake of the 2008 financial crisis. Banks and other financial institutions should take note, however, that the Act also … Continue Reading

New York Financial Services Cybersecurity Regulations Deadline Looming This Week

On March 1, 2018, the one year transition period within which banks, insurance companies, and other financial services institutions and licensees regulated by the New York Department of Financial Services (“Covered Entities”)  must have implemented a cybersecurity program ends. By March 1, the Covered Entities must be in compliance with the following requirements: 23 NYCRR … Continue Reading

FBI reports $3.1 billion lost by businesses through “business email compromise”

This article co-authored with guest blogger David Wang, a R+C summer associate and student at Boston College Law School Wire fraud crime has long been a problem for financial institutions and banks. However, wire fraud through email is a completely different beast. Originally characterized by law enforcement as an extension of traditional wire fraud, wire fraud by … Continue Reading
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