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  • Scared of Your Clients’ Involvement With Cryptocurrency?

    Bob Driscoll (Washington) and Ross Benson (Birmingham) wrote an article that was published in Law.com's May, 2021 issue of the Business Crimes Bulletin. The article serves to provide attorneys with an overview of the legality and illegality of various cryptocurrency-related activities.

  • SEC’s 2021 Examination Priorities Focus on Fintechs and Sustainability

    In March, the Securities and Exchange Commission’s Division of Examinations (SEC) announced its 2021 examination priorities. The SEC has committed to focusing its investigations on, among other issues, “attendant risks related to FinTech,” conflicts of interest for securities brokers, and investment advisor breach of fiduciary duty.

  • True Lender Update: States vs. OCC; No FDIC Rule; Possible State True Lender Rules?

    For national banks, the OCC’s true lender rule became effective on December 29, 2020. However, as expected, the Attorneys General of New York, California, Colorado, the District of Columbia, Massachusetts, Minnesota, New Jersey, and North Carolina (the States) filed a federal lawsuit in New York shortly after the new year alleging that the OCC’s True Lender rule is invalid. The States argue that the OCC’s true lender rule facilitates predatory lending, preempts state usury law, and enables “rent-a-bank” schemes. The complaint further alleges that the OCC exceeded its statutory authority and questions the timing of the OCC’s rule with a new administration on the way, which may have different policy priorities set by a new Comptroller.

  • McGlinchey’s Savoie, practice group ranked in Chambers FinTech 2021

    McGlinchey Stafford is pleased to announce national recognition of attorney Robert Savoie (Cleveland) and its FinTech practice group in the 2021 Chambers FinTech guide.

  • FinTech in the Time of COVID: What Financial Services Companies Need to Know

    Since the beginning of the COVID pandemic in early 2020, consumers and the business community have had to navigate new realities. The pandemic has dramatically changed the ways in which we interact, presenting challenges that were rarely, if ever, previously contemplated. Some industries have been affected profoundly, while others are naturally better suited to withstandMore

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