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A retired lawyer in search of intelligent life in cyberspace.
Recent Activity
While it's been a good 14-year run, it's time to put this blog to bed. My apologies to recent subscribers and a tip of the hat to recent unsubscribers. Unfortunately, all sales are final. Thank you all for reading over... Continue reading
Posted Feb 25, 2018 at Bank Lawyer's Blog
Over the decades I have practiced bank law, many bank executives have told me that their primary fear of theft comes not from outsiders but from insiders. Like this guy in Kentucky. According to the U.S. Attorney’s Office for the... Continue reading
Posted Feb 19, 2018 at Bank Lawyer's Blog
Credit union consultant Marvin Umholtz was kind enough to alert me to the news that our favorite marijuana-fueled credit union, Fourth Corner Credit Union, had finally received what it had for so long longed: a master account with the Federal... Continue reading
Posted Feb 11, 2018 at Bank Lawyer's Blog
A pithy and insightful analysis of last week's "stunning" (according to one clueless media maven) decision by the full US Court of Appeals for the District of Columbia that upheld the constitutionality of the CFPB's director being removable only "for... Continue reading
Posted Feb 4, 2018 at Bank Lawyer's Blog
While the CFPB's Acting Director wards off the advances of a frustrated pretender to the throne and outrages the ideologists with threats to make the CFPB more reasonable than radical, other voices are taking a more low-key road to regulatory... Continue reading
Posted Jan 28, 2018 at Bank Lawyer's Blog
The struggle between Leandra English and Mick Mulvaney over which of the two is the "lawfully appointed" Acting Director of the CFPB continues to grind its way through the federal court system, with English being beaten about the head and... Continue reading
Posted Jan 21, 2018 at Bank Lawyer's Blog
Although I'm beginning to make even myself nod off with marijuana related business banking stories, I'll pass this one along (h/t to Prof. Julie Anderson Hill) and then pick on something or someone else until something unusual occurs (like Jeff... Continue reading
Posted Jan 15, 2018 at Bank Lawyer's Blog
Apparently, US Attorney General Jeff Sessions was bored last Thursday, so he decided to liven up his day by flushing a lit cherry bomb down Mary Jane's toilet and...ya' know...seeing what happens. His tersely worded memorandum that rescinded a number... Continue reading
Posted Jan 7, 2018 at Bank Lawyer's Blog
Although I'll be "on holiday" for the next couple of weeks, I didn't want to leave before wishing all my millennial compadres a Very PC Christmas. Continue reading
Posted Dec 21, 2017 at Bank Lawyer's Blog
In a story that appears to have been noticed only by a few conservative press and opinion sites, a former CFPB examiner and current "whistleblower," Cassandra Jackson, alleges that when she was an examiner for the CFPB, "her superiors at... Continue reading
Posted Dec 17, 2017 at Bank Lawyer's Blog
When last we looked in on the investigation by the Colorado Attorney General into the alleged hijinks of a couple of Colorado law firms that handled single family loan foreclosures that followed the 2008 recession, Fannie Mae and Freddie Mac... Continue reading
Posted Dec 10, 2017 at Bank Lawyer's Blog
Our fascination with the persistence of the organizers of Fourth Corner Credit Union in pursuing a master account from the Federal Reserve Bank of Kansas City so that the credit union may serve businesses in Colorado that are somehow related... Continue reading
Posted Dec 3, 2017 at Bank Lawyer's Blog
Although I'm otherwise occupied, several readers have emailed me to urge that I comment on the current ridiculous kerfuffle involving the Celebrity Deathmatch between Mick Mulvaney and Leandra English over who lawfully acts as the "Acting Director" of the CFPB.... Continue reading
Posted Nov 28, 2017 at Bank Lawyer's Blog
Richard Cordray announced that he is resigning as Director of the Consumer Financial Protection Bureau by the end of the month. ""The new Director of the CFPB must be someone with a track record of protecting consumers and holding financial... Continue reading
Posted Nov 19, 2017 at Bank Lawyer's Blog
According to a recent article from Reuters, if Congressman Blaine Leutkemeyer has his way, the recent use of the Congressional Review Act to overturn the CFPB's arbitration rule will be only the opening salvo in what might be a bombardment... Continue reading
Posted Nov 12, 2017 at Bank Lawyer's Blog
In a recent article at, John Maxfield gives us insight as to what private equity investors are looking for and why commercial banks are not on the list. One of those private equity funds is run by former Bank... Continue reading
Posted Nov 5, 2017 at Bank Lawyer's Blog
In July, I quoted attorney Joe Lynyak's prediction that the Congressional Review Act would likely undue the CFPB's arbitration rule. Last week's action by the Senate to rescind the rule made Joe a prophet, and not one of those depressing... Continue reading
Posted Oct 30, 2017 at Bank Lawyer's Blog
I was struck by remarks made by FDIC Vice Chair Thomas Hoenig in a speech to an international conference earlier this month about the "moral hazard" presented by insured deposits and how regulators ought to confront that moral hazard. Luckily... Continue reading
Posted Oct 22, 2017 at Bank Lawyer's Blog
While Republicans in Congress (except those with upcoming election contests in "blue" or "purple" states) are busy pushing legislation that would, if not exactly castrate the CFPB, at the very least push its singing range up from baritone to soprano,... Continue reading
Posted Oct 15, 2017 at Bank Lawyer's Blog
This blog was off the air last week because its author was in the hospital and will be off the air for at least another week while he completes out-patient infusion therapy which involves (legal) drugs whose side effects inhibit... Continue reading
Posted Oct 1, 2017 at Bank Lawyer's Blog
When we last checked in on Vernon Hill almost two years ago, he had taken the millions he'd made in community banking in the U.S. and launched an effort to replicate his previous success on the mother ship: the U.K.... Continue reading
Posted Sep 17, 2017 at Bank Lawyer's Blog
Last week's announcement by Equifax that nearly one-half of Americans (and miscellaneous Canadians and Brits) had scads of personal information hacked by parties unknown, but almost certainly up to no good, set off a storm of criticism, much of it... Continue reading
Posted Sep 11, 2017 at Bank Lawyer's Blog
The recent news that Wells Fargo has uncovered at least another 1.4 million fake accounts left many commentators on the verge of stroking out. One of those commentators was Housing Wire's Not-so-Gentle Ben Lane, who seethed with the heat of... Continue reading
Posted Sep 4, 2017 at Bank Lawyer's Blog
It's not often you get a life-long political progressive who voted for Bernie Sanders for president in the Democratic primaries in 2016 to bash both Sanders and Elizabeth Warren for bashing Wall Street's Big Banks, so when I read last... Continue reading
Posted Aug 27, 2017 at Bank Lawyer's Blog
Odds and ends as I attempt to get back into the mix of banking law after some time off to deal with actual life: CU Consultant and newsletter publisher Marvin Umholtz recently reminded community banks and small credit unions that... Continue reading
Posted Aug 20, 2017 at Bank Lawyer's Blog