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Anmol Sahai

Anmol Sahai

Bank & Credit Union Acquisitions: Are They Transparent Enough?

Bank & Credit Union Acquisitions: Are They Transparent Enough?

The American Bankers Association (ABA) has issued a strong call for increased transparency within the credit union system, focusing specifically on the growing trend of credit union acquisitions of banks. Here are the key concerns: * Lack of Member Approval: The ABA advocates for mandatory member approval before a credit union

Max Usury Rate 50-State Survey

Max Usury Rate 50-State Survey

Debt Collection Licensing and Bonds 50-State Survey

Debt Collection Licensing and Bonds 50-State Survey

State Licensing Required? License Fee Bond Required? Bond Amount Unlawful Acts Code Section Alabama Yes $100 (over 20,000 populaiton); $25 (under 20,000 populaiton) No N/A N/A Alabama Code Section 8-19-5 (general consumer protection) Alaska Yes $100 Yes $5,000 Use of forms imitating court documents, falsification

FDIC Brokered Deposit Rule Comment Period Extension

FDIC Brokered Deposit Rule Comment Period Extension

The Federal Deposit Insurance Corporation (FDIC) has announced an extension to the comment period for its proposed rulemaking concerning brokered deposit restrictions for undercapitalized insured depository institutions. Understanding the Proposed Rule The proposed rule aims to revise the FDIC's regulations regarding brokered deposits for institutions deemed less than

Navigating the South Carolina Earned Wage Access (EWA) Services Act

Navigating the South Carolina Earned Wage Access (EWA) Services Act

South Carolina's General Assembly has enacted the "South Carolina Earned Wage Access Services Act," which aims to regulate businesses providing early access to earned wages. This Act significantly impacts companies operating in, or planning to operate in, this sector within the state. Understanding its requirements is

Welcome to The Coal Mine

Welcome to The Coal Mine

Hi Everyone! A quick introduction to The Coal Mine by Canarie. Over the last year, we have spoken to 100s of compliance, risk, and legal professionals and found the same issues over and over: "I'm spending too much time sifting through information that's not relevant.

Bank Shock: Supreme Court Decision For National Banks

Bank Shock: Supreme Court Decision For National Banks

The Supreme Court's decision in Cantero v. Bank of America clarifies the complex interplay between state and federal laws governing national banks. The case was decided in May but is now with the circuit court, centered on a New York state law requiring banks to pay interest on