News and Insights

11.01.21

Legal Impact of FFIEC Update to Authentication Guidance for Internet-Based Financial Services

The Banking Law Journal republished Scott Fryzel, Lindsay Henry, and Lauren Quigley's blog post about the FFIEC updating its authentication guidance for internet-based financial services. The article…

2.15.22

FDIC Announces 2022 Priorities in the Wake of Chairman Jelena McWilliams Resignation; Financial Services Entities Should Take Note of FDIC Focus on Bank Mergers and Crypto

On February 7, 2022, Acting Chairman Martin J. Gruenberg released a statement outlining the FDIC’s 2022 priorities. He also recognized the contributions of former Chairman Jelena McWilliams, who…

9.02.21

An Enhanced Standard of Commercial Reasonableness for Security Procedures? The FFIEC Updates Its Authentication Guidance for Internet-Based Financial Services

On August 11, 2021, the Federal Financial Institutions Examination Council (the “FFIEC”) issued new guidance on risk management principles for access to and authentication of electronic funds…

3.13.20

Considerations for Financial Institutions Regarding Security Procedures for a Remote Workforce

We regularly work with financial institutions to navigate the challenges of implementing, maintaining, and using security procedures for commercial customers’ use of treasury management services.…

6.11.24

Hot Takes: CFPB Backs NY AG’s Position That EFTA Applies to Consumer Wires

We have been closely tracking the recent action by the New York Attorney General (“NY AG”) against Citibank regarding the bank’s treatment of consumer wire transfers. By way of background, the NY AG…

1.19.21

Illinois Passes Bill Prohibiting Lenders From Charging More Than 36% APR on Consumer Loans

On January 13, the Illinois legislature unanimously passed the Predatory Loan Prevention Act (“PLPA”), which would prohibit lenders from charging more than 36% APR on consumer loans. Specifically, the…

4.15.20

Illinois Suspension of Consumer Debt Collection Measures Takes Effect

In the face of the COVID-19 pandemic, Governor J.B. Pritzker has provided relief to Illinois consumers’ pocketbooks. On April 14, 2020, the Governor issued Executive Order in Response to COVID-19 No.…

1.10.24

Dykema Elects 11 New Members

Dykema, a leading national law firm, announced that its Executive Board elected 11 new members to the firm effective January 1, 2024.

8.30.18

Dykema’s Chicago Office Adds Lindsay S. Henry

Dykema, a leading national law firm, today announced the addition of Lindsay S. Henry to its Financial Industry Group as a Senior Counsel in the firm’s Chicago office. Ms. Henry joins Dykema after…