Banks and other financial institutions have been operating under federal regulatory standards for many decades, but the increased oversights and burdens put in place by the 2010 Dodd-Frank Act have raised the costs of compliance significantly for financial institutions, with experts indicating that such costs have doubled since the law’s enactment. And if there is one thing more expensive than maintaining compliance, it is dealing with the consequences of a failure to comply with Dodd-Frank standards. Numerous financial institutions have experienced devastating consequences in their failure to comply with the complex and often confusing law. At Herrington Law, our banking compliance attorneys work with banks and other financial institutions across Mississippi in meeting their compliance requirements under Dodd-Frank as well as in responding to regulatory investigations and enforcement matters.
Helping Your Institution Meet Dodd-Frank Standards
While politicians and administrators at the federal level have been debating the merits of Dodd-Frank ever since it was enacted, and a change in leadership may mean changes in the law, for the time being, Dodd-Frank is very much firmly in place, and our legal team is prepared to work with your financial institution to manage all compliance risks and needs.
Whether you need experienced compliance counsel to oversee and manage all of your compliance needs or an outside team to examine isolated issues, transactions, or areas of concern in your institution’s business, we can help you assess and remedy Dodd-Frank compliance issues related to the following issues, among others:
- Lending standards and practices
- Mortgage practices
- Internal compliance procedures and whistleblowing
- Fiduciary duty issues
- Mergers and acquisitions
- Trading/securities issues
- Credit cards
Contact Us Today to Discuss Your Business
At Herrington Law, we have a time-tested approach of always putting the needs of our clients above our own. When you work with Herrington Law in meeting your Dodd-Frank and other banking compliance needs, our team will work with you to evaluate all of your relevant risks and respond accordingly while completing our work in a manner that fits both the needs of your institution and your budget. Contact our office today to set up a free consultation to determine how we can be of service to your financial institution.
WHAT WE OFFER
Herrington Law provides counsel regarding:
- Federal / State Banking Laws
- Securities / Blue Sky Laws
- Lending Laws / Compliance
- Consumer Protection
- Risk Management
- Dodd-Frank Rules
- Data Breaches
- Customer Confidentiality