With attorneys and staff worldwide, Bryan Cave attorneys are often quoted in the news.  Recent mentions of Financial Institutions group attorneys include:

Walt Moeling in American Banker

Walt Moeling was quoted May 8 by American Banker concerning an uptick in interest from outside investors in the Florida banking industry.  A number of banks in the Midwest and elsewhere poured money and resources into Florida a decade ago, only to absorb large losses when the housing market collapsed.  “That was an interesting phenomenon,” Moeling said.  “The theory is that Florida has good deposits and is a good growth market . . . But those who fail to learn from history are doomed to repeat it.  The truth of the matter is it is very hard to be successful in a totally different market where you don’t have a lot of experience.”

Judith Rinearson and John ReVeal in Pay Magazine

Judith Rinearson and John ReVeal authored an article for the spring edition of PayBefore’s Pay Magazine  concerning the importance of crafting agreements between banks and their third-party vendors that will withstand the scrutiny of regulators.  “Recent regulatory publications, examinations and enforcement actions suggest that the standards and expectations by which regulators evaluate banks’ third-party relationships now are significantly more exacting,” they wrote.  “They’re digging deeper on how banks select their third-party vendors, and the scope of their review is extending to more and more vendors. This increased focus makes it critically important for banks and their partners to get their relationships right from the start by setting their own appropriate expectations and establishing standards for oversight, access and follow through.  And, the contract is the key.  Click here to read their full article.

Margo Strahlberg in Paybefore News

Margo Hirsch Strahlberg was quoted April 29 by Paybefore News regarding a qui tam action involving the state of Delaware relating to claims that nearly two dozen well-known retailers avoided escheating unused gift card balances to the state through the use of special purpose entities organized in other states. Delaware law enables the state to collect unclaimed property, including gift card funds that have gone unused after five years, from companies incorporated in the state. Strahlberg said Delaware’s pursuit of legal action in this case doesn’t mean other states will follow the strategy of seeking court intervention. “The states will still continue to pursue legislation in their attempt to grab at unclaimed funds,” she told the publication. “Delaware always has been known as an aggressive state with respect to unclaimed property, so its willingness to rely on the courts comes as no surprise.”