Banking & Financial Services

More and more, banks and other financial services institutions are offering a broad range of financial services products under one roof. These institutions rely on law firms who understand these different services and are able to see the big picture in an increasingly complex regulatory and financial landscape. Verrill Dana’s Banking & Financial Services Group is comprised of an experienced team of attorneys who provide a single integrated legal resource for financial services clients.

Members of the Group regularly provide legal advice to financial institutions on a wide range of transactional and operational issues, including:

General Corporate, Business, and Securities Law
Regulations related to deposit and checking accounts, including funds availability, check payment, electronic funds transfers, joint and trustee accounts.
Bank security and privacy issues
Responding to trustee process, tax liens, and orders to withhold and deliver
Offering of bank related products, including securities, property insurance, credit insurance, and title insurance
Licensing and qualification
Reviewing and drafting complex mortgage, retail lending, and deposit agreements
Consumer lending issues, including ECOA, home mortgage disclosure, Truth-in-Lending, Fair Credit Reporting, Plain Language Law, and RESPA
Formation and operation of affiliates under Maine’s Universal Bank Charter laws, including non-depository trust companies and insurance sales subsidiaries Bank mergers and acquisitions
Remote deposit capture services and associated equipment leasing
Municipal finance and collateralization of deposits
Affiliated business relationships, including third party servicing arrangements
The Group recently represented a non-bank client in its role as a bank customer in connection with its obligations and liabilities arising from a series of fraudulent electronic funds transfers.

In addition to providing regulatory services to banks, Verrill Dana’s Banking & Financial Services Group works closely with attorneys from other practice groups throughout the firm to offer truly comprehensive legal services to its clients. Note in particular the following practice areas and the attorneys who serve as liaisons to the Banking & Financial Services Group:

Business & Corporate

Bankruptcy & Creditors’ Rights