Retail Banking

BuckleySandler provides a broad range of services and advice to all types of financial institutions concerning retail banking and deposit products and services.  The members of our group include several former in-house counsels from various institutions, each of whom has developed a deep understanding of bank operations, systems, procedures and economics.  These experiences, in addition to our extensive knowledge of the law, as well as examination procedures, priorities and evolving regulatory expectations, inform our practice and enable our lawyers to provide prudent yet practical and actionable advice.  Our retail banking practice includes:

• Providing advice and counsel on all federal and state laws and regulations affecting deposit functions
• Preparation of multi-state surveys of state deposit-related consumer protection laws; providing counsel on the federal preemption of state laws
• Assistance in development of new products and services
• Development of Deposit Account Agreements, disclosures and forms
• Representation on cash management and treasury products, including:
  • ACH and wire services
  • Remote deposit capture
  • Lock box agreements
  • Mobile banking, Online banking and Bill Pay
  • Positive Pay Services
  • Money transfer/money services businesses
• Providing advice regarding  debit card, stored value, credit and prepaid cards
• Counseling on core retail banking operations, including check and debit card processing, return items issues, compliance with subpoenas and garnishments affecting deposit accounts, abandoned and escheat property, safe deposit box
• Advising on internal bank protection issues, including matters related to internal investigations, employee theft and defalcation, and fraud investigations
• Advising on BSA/AML, USA Patriot Act and OFAC compliance
• Advising on Truth In Savings, Electronic Funds Transfer Act, Funds Availability issues
• Counseling regarding IOLTA,  IOTA and 529 accounts
• Assistance with national deposit-taking strategies, including the use of financial advisors who are associated with affiliated broker-dealers
• Assisting with responses to regulatory examinations and inquiries