- Posts by Larry Tomlin
PartnerAn insightful and persuasive advisor, Larry provides legal services to financial institutions of all sizes including commercial banks, thrifts, bank holding companies and public and private corporations. He routinely advises ...
Financial institutions that use code-based tracking technologies may soon find themselves facing increased scrutiny and legal exposure as the next wave of class action litigation begins. A recent class action lawsuit alleging Everwise Credit Union disclosed sensitive personal and financial information underscores the importance of transparency and consent in the handling of personal and financial information.
On April 23, 2025, President Donald J. Trump signed an executive order titled “Restoring Equality of Opportunity and Meritocracy.” This order states that the U.S. aims to limit the use of disparate-impact liability in order to stay aligned with the Constitution, federal civil rights laws, and core American values. For banks and other financial organizations, this signals a big change in how they will be regulated.
Federal contractors have until December 9, 2024, to file an objection to the public release of their Type 2 Consolidated EEO-1 Report for the year 2021. Failure to submit an objection by this deadline could result in the disclosure of sensitive employment and demographic data to the public.
This past week, Indiana Governor Eric Holcomb signed H.B. 1284 and S.B. 188 into law, each of which will become effective on July 1, 2024.
The spate of class-action lawsuits against banks and credit unions (“Financial Institutions”) involving overdraft fees has prompted Indiana Financial Institutions to amend their existing account agreements to provide for arbitration (in lieu of costly litigation) and to prohibit consumers from initiating or joining into class-actions against Financial Institutions (“Arbitration/Class Action Waivers”).
On June 6, 2023, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly released final guidance on managing risks associated with third-party relationships. The guidance is intended to promote consistency in supervisory approaches and replaces each agency’s existing guidance on the topic.
Welcome to Banking Brief: Financial Services Insights, where Amundsen Davis attorneys provide actionable insights on the laws and trends impacting financial institutions and the banking industry.
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