Banking

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The Banking Practice Group at Hodgson Russ has more than 40 years of experience representing financial institutions, providing a wide range of legal services to commercial banks, savings banks, and holding companies. The banks range from international and multi-state banks to community banks.

Our Banking Practice Group consists of attorneys whose experience relates primarily to legal matters of concern to financial institutions, and these attorneys frequently draw on the skills of our other attorneys, including those who practice corporate, securities, real estate, environmental, creditors’ rights, labor, and environmental law. Illustrative of the recognition afforded our Banking Practice Group is a group member’s service as counsel to the Independent Bankers Association of New York State and is a member of the Lawyers Advisory Committee of the New York Bankers Association.

Hodgson Russ has prestigious Best Law Firms Metropolitan Tier 1 rankings awarded by Best Lawyers/U.S. News & World Report in the Banking and Finance Law and Financial Services Regulation Law categories.

The legal services provided by our Banking Practice Group include the following:

Relations With Regulators

• Advising on dealings with federal bank regulatory agencies, including the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation
• Advising on dealings with state bank regulatory agencies, especially the New York State Banking Department
• Handling applications to federal bank regulatory agencies and the New York State Banking Department, including applications relating to the formation of holding companies and changes in the control of banks

Non-Consumer Regulatory Matters

Advising on compliance with federal and New York regulatory requirements, including those regarding:

• Transactions with affiliates and insiders
• Anti-money laundering and know-your-customer policies and procedures
• Capital adequacy

Consumer Regulatory Compliance

• Advising on federal statutes and regulations that apply to the provision of consumer financial services by banks, including truth-in-lending, truth-in-savings, equal credit opportunity, fair lending, electronic funds transfer, fair credit reporting, privacy, and information security statutes and regulations
• Advising on New York statutes and regulations affecting the provision of consumer financial services by banks, including the considerable number of New York statutes and regulations that overlap and must be reconciled with their federal counterparts
• Assisting in resolving issues raised by federal and state regulatory agencies and by consumers
• Working with banks to prepare to comply with the consumer financial protection provisions of the Dodd-Frank
• Wall Street Reform and Consumer Protection Act

Product Development and Documentation

• Advising on statutory and regulatory bases under New York law for consumer lending products, including credit card, home equity, overdraft, and other line-of-credit accounts
• Advising on substantive restrictions and disclosure requirements under federal and New York law and drafting forms of documentation for consumer financial services products, including credit card, home equity, overdraft, and other line-of-credit accounts, mortgage loans, deposit accounts, debit cards, and internet banking and bill payment services
• Advising on and drafting forms of documentation for commercial financial services products, including deposit accounts, cash management services, sweep and repurchase arrangements, and internet banking, bill payment, and cash management services
• Drafting forms of documentation for commercial lending transactions, including promissory notes, loan, security and guaranty agreements, and lockbox, blocked account, and deposit account control agreements

Bank Operational Issues

• Advising on day-to-day operational issues affecting banks, including:
• Conflicting claims to deposit accounts
• Exercise of rights of set-off
• Check collection disputes with customers and other financial institutions
• Allegations of unauthorized use of credit and debit cards

Corporate Transactions

• Handling acquisitions and dispositions of businesses by banks
• Assisting in purchases and sales of branch offices by banks
• Organization of holding companies

Internal Corporate Matters

• Advising on responsibilities of directors and officers
• Drafting charter and by-law amendments
• Assisting with annual and special meetings of shareholders, including preparing proxy materials
• Drafting stock option and other compensation plans for officers and employees

Lending Transactions

• Advising on and documenting commercial lending and finance transactions, including lines of credit, revolving credits, term loans, formula-based inventory, and accounts receivable credit facilities, equipment leasing and finance, and letters of credit
• Advising on and documenting mortgage-secured loans, including acquisition, construction, and permanent financing
• Representing banks in multi-bank financings, including advising on loan syndications and participations
• Advising on usury issues under New York law affecting lending transactions

Creditors’ Rights

Representing banks in:

• Loan workouts and restructurings
• Debtor-in-possession financings
• Real estate foreclosure proceedings
• Enforcement of personal property security interests
• Bankruptcy proceedings