Benjamin’s filing with the court noted that after “extensive discussions” Hayes and the DoJ agreed to a $10 million bond secured by $1 million in cash, to be co-signed by his mother. In a very unusual agreement, Hayes will be allowed to retain his passport and reside in Singapore du...
stating that the OCC will continue to follow the process outlined in the 1995 guidelines. It is unclear, however, how the OCC would proceed should the DOJ issue new guidelines. As discussed in our article, "Competition and Financial Stability: The Emerging Regulatory Framework for...
Under the Bank Secrecy Act, U.S. taxpayers must report their overseas bank accounts and financial assets, even if those assets do not generate taxable income. You must report any account with more than $10,000, or if your combined accounts have a total value greater than $10,000. In add...
BancorpSouth submitted its BHC Act and Bank Merger Act applications early in March 2014 to the Federal Reserve and FDIC. Investigations in 2014 by the DoJ and the CFPB into BancorpSouth's lending practices had determined that BancorpSouth's mortgage lending practices violated the fair lending...