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  • FDIC Final Rule and its Impact on Bank Partnerships

    On May 17, 2022, the Federal Deposit Insurance Corporation (“FDIC”) adopted a final rule establishing a new subsection B to the Federal Deposit Insurance Act (“FDIA”) addressing False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo. The rule was the result of an “increasing number of instances where individuals or [financial service providers or other] entities have misused the FDIC’s name or logo, or made false or misleading representations about deposit insurance.” Between January 1, 2019, and December 31, 2020, the FDIC resolved at least 165 instances regarding the potential misuse of the FDIC’s name or logo and/or misrepresentations related to deposit insurance. The Consumer Financial Protection Bureau (“CFPB”) immediately followed with a Consumer Financial Protection Circular indicating that a violation of the new FDIC rule would likely result in a violation of the Consumer Financial Protection Act’s prohibition on Unfair, Deceptive, or Abusive Acts or Practices.

  • McGlinchey’s Robert Savoie Named 2022 Midwest Trailblazer by The American Lawyer

    McGlinchey is pleased to announce that Robert Savoie, a Member (Partner) in the firm’s Cleveland office, has been named to The American Lawyer’s 2022 list of Midwest Trailblazers. This list spotlights professionals who are agents of change in their respective practice areas.

  • McGlinchey continues firm growth with 2 new additions

    News of McGlinchey’s most recent consumer financial services compliance team hires, Amy Greenwood Field (Washington, DC) and Aaron Kouhoupt (Cleveland) was covered by SubPrime Auto Finance News on April 25, 2022.

  • Aaron Kouhoupt Returns to McGlinchey as Member in Consumer Financial Services Compliance Group

    McGlinchey is pleased to announce that Aaron Kouhoupt has rejoined the firm as a Member (Partner) in the national Consumer Financial Services Compliance practice group. Aaron focuses on advising traditional banks as well as fintech start-ups navigating the federal regulatory regime surrounding bank partnership programs and launching consumer finance products on a national scale.

  • McGlinchey Hires Former State Bank Regulator From Dentons

    The hire of Amy Greenwood-Field, Member in McGlinchey's DC office, was covered in Law360 on Feb. 28, 2022.

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