Financial Institutions

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Thank you to all who joined us for the 13th Annual Davenport Evans Banking Seminar, Friday, April 26, at The Country Club of Sioux Falls. The seminar offered important legal updates and best practices useful in “Protecting Your Bank’s Future.”

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Davenport Evans lawyer Tiffany Miller was interviewed for the monthly feature, “Five Questions,” appearing in the April 2019 edition of the Sioux Falls Area Chamber of Commerce Chamber News.

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Are you planning to offer a promotional giveaway or contest? Don’t let your dream promotion result in a compliance nightmare. Davenport Evans attorney Tiffany Miller identifies questions you need answered before your giveaway goes live.

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On January 16, the CFPB and the New York Attorney General announced a settlement of claims against Sterling Jewelers, Inc., including brands Kay Jewelers, Goodman, and Jared the Galleria of Jewelry. According to the Complaint, Sterling engaged in unfair and deceptive business practices and violated TILA and Regulation Z in connection with the marketing and sale of credit products at their retail jewelry locations. Davenport Evans lawyer Keith Gauer examines the settlement and provides practical suggestions for banks to consider when originating credit products through third parties at points of sale.

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What does it mean if an animal is branded in South Dakota? What does branding mean for bankers who lend to livestock producers? Litigation attorney Vince Roche explains.

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Sometimes a bank wants to get a portion of a possibly troubled credit off its books. Management of the bank is willing to step in, motivated by good intentions, and provide financing to the borrower to help pay down the debt. But when both the bank and its affiliate have a lending relationship with the same borrower and the bank continues to advance funds to the borrower, the bank needs to tread carefully to avoid regulatory traps. Read more from financial services lawyer Charles D. Gullickson.

Davenport, Evans, Hurwitz & Smith, LLP in Sioux Falls, SD is pleased to announce that 16 Davenport Evans lawyers were listed in Best Lawyers® 2019 for South Dakota, in 22 different practice areas. In addition, four Davenport Evans lawyers were named, “2019 Lawyer of the Year” for South Dakota. Read more.

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Davenport Evans lawyer Robert E. Hayes will facilitate a discussion of creditors’ rights and bankruptcy issues November 8 at the Independent Community Bankers of South Dakota Fall Conference: Farming, Finance & Global Markets.

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When it comes to capital adequacy requirements “small” bank holding companies have always enjoyed regulatory flexibility compared to their bigger brethren, especially when it comes to leverage requirements. As a result of action by Congress and a rule issued by the Federal Reserve Board, the threshold for “small” has now gone from $1 billion in consolidated assets to $3 billion.