For instance, do items of virtual 'property' constitute legally recognizable property, with rights and obligations that go along with property law? What happens when conduct in games or virtual worlds infringe—or at least appear to infringe—intellectual property rights? What governments or sets of courts have jurisdiction over behavior in 3D Internet applications?
Banking and Lending Law Banking and Lending Law The law governing banks, bank accounts, and lending in the United States is a hybrid of federal and state statutory law. Consumers and businesses may establish bank accounts in banks and savings associations chartered under state or federal law.
The law under which a bank is chartered regulates that particular bank.
A mix of state and federal law, however, governs most operations and transactions by bank customers. Article 3 of the Uniform Commercial Code, as adopted by the various states, governs transactions involving negotiable instruments, including checks.
Article 4 of the Uniform Commercial Code governs bank deposits and collections, including the rights and responsibilities of depository banks, collecting banks, and banks responsible for the payment of a check. Other provisions of the Uniform Commercial Code are also relevant to banking and lending law, including Article 4A related to funds transfersArticle 5 related to letters of creditArticle 8 related to securitiesand Article 9 related to secured transactions.
A number of regulations govern a check when it passes through the Federal Reserve System.
These regulations govern the availability of funds available to a depositor in his or her bank account, the delay between the time a bank receives a deposit and the time the funds should be made available, and the process to follow when a check is dishonored for non-payment. Federal law also provides protection to bank customers.
A number of laws have been passed affecting banks, banking, and lending.
A brief summary of these is as follows: National Bank Act of established a national banking systems and chartering of national banks. Bank Holding Company Act of set forth requirements for the establishment of bank holding companies.
International Banking Act of required foreign banks to fit within the federal regulatory framework. Financial Institutions Regulatory and Interest Rate Control Act of created the Federal Financial Institutions Examination Council; it also established limits and reporting requirements for insider transactions involving banks and modified provisions governing transfers of electronic funds.
Depository Institutions Act of Gar-St. Competitive Equality Banking Act of established new standards for the availability of expedited funds and further expanded FDIC authority.
Financial Institutions Reform, Recovery, and Enforcement Act of set forth a number of reforms and revisions, designed to ensure trust in the savings and loan industry. Crime Control Act of expanded the ability of federal regulators to combat fraud in financial institutions. Housing and Community Development Act of set forth provisions to combat money laundering and provided some regulatory relief to certain financial institutions.
Riegle Community Development and Regulatory Improvement Act of established the Community Development Financial Institutions Fund to provide assistance to community development financial institutions.
Riegle-Neal Interstate Banking and Branching Efficiency Act of permitted bank holding companies that were adequately capitalized and managed to acquire banks in any state.
Economic Growth and Regulatory Paperwork Reduction Act of brought forth a number of changes, many of which related to the modification of regulation of financial institutions. Gramm-Leach Bliley Act of brought forth numerous changes, including the restriction of disclosure of nonpublic customer information by financial institutions.
The Act provided penalties for anyone who obtains nonpublic customer information from a financial institution under false pretenses. The ability for bank customers to engage in electronic banking has had a significant effect on the laws of banking in the United States.
Some laws that govern paper checks and other traditional instruments are difficult to apply to corresponding electronic transfers.
Home > Regulation & Examinations > Laws & Regulations. Laws & Regulations. Review the laws and regulations that govern the actions of FDIC-insured institutions. Policy. Important Banking Laws; Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) Delegations of Authority. Banking Law Bank Bryan Cave. A summary of legal issues affecting community banks, with a current focus on Troubled Asset Relief Program Capital and the Federal Deposit Insurance Corp.'s Temporary. banking: an overviewBanks and bank accounts are regulated by both state and federal statutes. Bank accounts may be established by national and state chartered banks and savings associations. All are regulated by the law under which they were established.
As technology develops and affects the banking industry, banking law will likely change even more. Inside Banking and Lending Law.The Federal Reserve System is the central bank of the United States.
It was founded by Congress in to provide the nation with a safer, more flexible, and more stable monetary and financial system. Bank regulation is a form of government regulation which subjects banks to certain requirements, restrictions and guidelines, designed to create market transparency between banking institutions and the individuals and corporations with whom they conduct business, among other things.
Blog posted 2 years ago in Banking Law, Commercial Real Estate, Real Estate by Steven D. Eimert Proposed changes to NCUA’s rule on federal credit union (FCU) ownership of real estate and to the Massachusetts credit union parity rules, promise to open new areas of credit union investment in.
iii BANKING LAW AND PRACTICE Company Secretaries have a pivot role to play in the Banking and Financial Sector. A Company Secretary can work as a compliance officer in a banking and financial institution and play an important role in ensuring compliance. Banking law covers the many state and federal regulations governing financial institutions.
Attorneys who practice in this area of the law handle everything from customer disputes and complaints against a bank, to complex litigation between domestic and foreign institutions, their investors, the government, and other parties.
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