Table of Contents Hide List of Questions
1. How is a “bank” defined for the purposes of US law? What types of bank or banking institutions have evolved?
2. What range of activities is performed by banks in relation to domestic and international matters? Please give an overview.
3. From which source(s) do banks derive their powers?
4. Why do banks need to be supervised and regulated? What principles underlie the regulatory structure in the US?
5. Which laws govern the regulation of banks? Is bank regulation exclusively governed by federal law?
6. To which banking institutions do the relevant laws apply?
7. What are bank holding companies, and are they subject to regulation?
8. Are Internet banks regulated?
9. What have been the most important pieces of recent legislation in this context? Please briefly describe the impact of the FDIC Improvement Act 1991, Basel II and the Sarbanes-Oxley Act
10. What programs should banks have in place to ensure compliance with the relevant legislation//regulations? What cost burden does compliance place upon banking institutions?
11. Which bodies are responsible for supervising and regulating banking institutions, and what powers do they enjoy?
12. Is it necessary to obtain authorization or approval before taking control of, or establishing, a banking institution in the US?
13. For which activities do banking institutions need to obtain authorization or approval?
14. What sanctions are available in the event of breach of banking regulations? By whom are these sanctions imposed? What procedure applies where it is proposed to impose a sanction?
15. Can a bank’s directors or officers be made liable for the acts or omissions of the bank in relation to its banking activities, or for failure to adhere to banking regulations?
16. What regulations apply to foreign banks operating in the US?
17. What regulations apply to a US banks’ international activities? In what form can a US bank carry out business abroad?
18. What are the likely future regulatory developments?
19. What rules govern a bank’s relationship with its customer? What, in outline, are the bank’s obligations to its customer?
20. How have the Gramm-Leach-Bliley Act, the USA Patriot Act and the Bank Secrecy Act affected the obligations of banks in connection with obligations of confidentiality/privacy?
21. In what circumstances is a bank obliged to disclose information which would otherwise be confidential?
22. What programs should a bank have in place to ensure compliance with anti-money laundering regulations?
23. What are a bank’s obligations in connection with maintenance of security? Can a bank be liable to its customer in respect of a breach of security?
24. Does a bank enjoy rights of lien or set-off against its customer? What other remedies are available to a bank concerned to protect itself?
25. What legislation/regulation governs banks’ investment and securities activities? What are a banks’ principal obligations in this regard?
26. What regime governs a bank’s insolvency? What is the “deposit insurance scheme” in the case of a bank or savings institution becoming insolvent? Who administers it?
Hide List of Questions
 
This service is completely FREE but for the full article and thousands of other articles from 100+ countries please tell us about yourself by registering (and yes, our lawyers like to think you've read our Disclaimer).

It only takes 30 seconds and as well as great content you get articles more relevant to you and other advanced features like an optional personalised once-weekly news alert and forward-to-colleague capabilities.

We'll also remember your details so you don't have to login again - if you've registered before please login here or if you've forgotten your username click here and we'll remind you.

We appreciate your time is important and will respect your privacy - THANK YOU for registering.

The content of this FAQ is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

If you would like further information or to contact this firm directly.

More information from this firm?

Related Articles from this Topic and Country: