Banking and Financial Services

Due to its nationally-recognized pro-banking business climate, South Dakota attracts major regional and national leaders in the financial services industry. Many are surprised to find that South Dakota also offers highly-qualified lawyers with sophisticated practices in specialized areas of commercial law. Davenport Evans offers banking and compliance attorneys with diverse backgrounds serving clients ranging from community banks to multi-national institutions.

South Dakota ranks #1 in banking assets among all states, with South Dakota-based banks holding over $3.1 trillion in assets at year-end 2018. Major credit and prepaid card issuers and related processing and service providers are based in South Dakota, and Davenport Evans has provided legal counsel to many of these industry leaders during a forty-year period of unparalleled growth and prosperity.

Contact our Banking and Financial Services attorneys:  Charles D. GullicksonRobert E. Hayes, Dixie K. HiebKeith A. Gauer, Douglas J. Hajek, Anthony M. Hohn, Joel R. Rische, and Terry N. Prendergast.

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DAVENPORT EVANS BANKING SEMINAR – Register Here

April 19 | 7:30 a.m. – 1 p.m. | Country Club of Sioux Falls

Thanks to all who joined us for our 2023 Banking Seminar! Save the date for the 2024 event, taking place April 19. This complimentary seminar is offered annually as a benefit for Davenport Evans clients.

Sign up for eNews in order to receive event updates and monthly Banking articles from Davenport Evans lawyers. You may unsubscribe at any time.

For information on this event or to request a speaker from Davenport Evans, please contact Kristen Townsend at 605-357-1249 or [email protected].

Davenport Evans Banking and Financial Services

Davenport Evans is committed to providing a full range of legal services to financial industry clients in a timely and cost-efficient manner. We share your focus on quality and service through strong, individualized working relationships.

Davenport Evans represents banks and their marketing partners in all phases of federal and state banking law and regulatory compliance including:

 

  • bank acquisitions and mergers
  • branch banking
  • regulatory compliance
  • creditors’ rights
  • commercial litigation
  • prepaid and credit card programs
  • subprime lending
  • financial privacy
  • bank-vendor relationships
  • strategic planning
  • unclaimed property

Learn about National Products Experience at Davenport Evans.

Learn about Bankruptcy and Creditors Rights at Davenport Evans.

Learn about Corporate and Business Law at Davenport Evans.

Articles on Banking and Financial Services

Avoid Fines and Liability with CTA FinCEN Filings

The Corporate Transparency Act (CTA), which became effective on January 1, 2024, is a new federal law and regulatory scheme that will have a dramatic and widespread impact on millions of people. Millions of owners of LLCs, corporations, limited partnerships, and other...

What to Consider When Accepting Personal Property Collateral

What is the practical value of personal property pledged as security for a loan? The Uniform Commercial Code theoretically allows debtors to pledge their interests in a wide variety of property as security for a debt, ranging from the common, like equipment, accounts,...

Managing a Buy Now, Pay Later Loan Program

If you purchased something online this holiday season, you were likely given multiple payment options at checkout, including an option to “buy now, pay later (BNPL)”. A BNPL loan allows borrowers to defer payment on purchased items. Borrowers pay little to nothing at...

Avoiding Lending Limit Violations in Loan Purchase Programs

Many South Dakota banks seek to diversify their loan portfolios to include commercial or real estate loans originated in other markets. Because South Dakota banks may lack the ability to originate loans themselves in areas outside of their normal geographic market,...

BSA Takeaways from Kingdom Trust Consent Order

Earlier this year, FinCEN assessed a $1.5 million civil money penalty against South Dakota-chartered Kingdom Trust Company for willful violations of the Bank Secrecy Act.  This was FinCEN’s first enforcement action against a trust company, and the South Dakota...

Best Lawyers® 2024 Recognizes 18 Davenport Evans Lawyers

Davenport, Evans, Hurwitz & Smith, LLP in Sioux Falls, SD is pleased to announce that 18 Davenport Evans lawyers were listed in Best Lawyers® 2024 for South Dakota, in 22 different practice areas. In addition, two Davenport Evans lawyers were named 2024 Best...

Supreme Court Clarifies Fraud Exception to Debt Discharge

Federal appellate courts have long been split on the scope of the fraud exception to the dischargeability of debts in bankruptcy proceedings. The U.S. Supreme Court recently provided clarity on that issue, holding that debt based on fraud committed by a debtor’s...

FTC v. Employers: Do Banks Have a Dog in the Fight?

On January 5, the Federal Trade Commission (“FTC”) published a notice of proposed rulemaking (the “Proposed Rule”) that would effectively prohibit noncompete clauses in contracts between employers and workers. The FTC’s authority to issue regulations prohibiting...

Uniform Commercial Code Amendments: Correcting Misconceptions

What is the UCC? The Uniform Commercial Code (UCC) is a comprehensive set of laws governing all commercial transactions in the United States. It is not a matter of federal law, but rather a set of universally adopted state statutes. The uniformity of state adoption of...

Counterfeit vs. Altered Checks

According to most history texts, checks were first used sometime in the early 1500s in the Netherlands, and likely, check fraud was not far behind. In 1762, the Court of the King’s Bench in England decided Price v. Neal, establishing the fundamental principles and...

Suspicious Activity – Will You Know It When You See It?

The Federal Bank Secrecy Act is aimed at preventing money laundering and the financing of terrorism or other criminal activity, and suspicious activity reporting is a key component of the BSA framework. A bank’s failure to file suspicious activity reports or its...

Protecting What You’ve Built