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Preparing to Bank Hemp and Marijuana in South Dakota

Preparing to Bank Hemp and Marijuana in South Dakota

by dehs | Dec 10, 2020 | Business Law, Financial Institutions, Recent News

Hemp production has been legalized under both Federal and South Dakota law, and to the surprise of many, South Dakota voters recently approved a constitutional amendment legalizing marijuana.  Bankers are already experiencing deposit-opening and loan requests from...
What to Know About Monitoring Remote Workers

What to Know About Monitoring Remote Workers

by dehs | Oct 29, 2020 | Financial Institutions, General, Recent News

Like other employers, financial institutions have worked to be flexible during the global COVID-19 pandemic by allowing employees to work remotely. With a growing remote workforce, many are enlisting the help of employee monitoring systems to oversee the devices used...
Larson and Miller Selected as Chamber of Commerce Committee Chairs

Larson and Miller Selected as Chamber of Commerce Committee Chairs

by dehs | Oct 2, 2020 | Community Involvement, Employment Law, Financial Institutions, General, Recent News

Davenport Evans lawyers Sarah Richardson Larson and Tiffany Miller have been selected as 2020-2021 committee chairs for the Greater Sioux Falls Chamber of Commerce. The Chamber offers 14 committees, each with a different purpose supporting the Chamber’s mission,...
The Right of Setoff: 5 Documentation Tips for Protecting Your Bank

The Right of Setoff: 5 Documentation Tips for Protecting Your Bank

by dehs | Sep 29, 2020 | Financial Institutions, Litigation, Recent News

“Setoff” is the right of a depository bank to appropriate funds in a deposit account it controls to satisfy debt owed by a customer to that depository bank. The right of setoff is derived from common law principals of law and equity, and has long been recognized in...
CFPB Appoints Davenport Evans Alumna Kristina Schaefer to Community Bank Advisory Council

CFPB Appoints Davenport Evans Alumna Kristina Schaefer to Community Bank Advisory Council

by dehs | Sep 17, 2020 | Financial Institutions, Recent News

On September 16, the Consumer Financial Protection Bureau (CFPB) announced the appointment of new members to its Community Bank Advisory Council (CBAC). CBAC members serve a two-year term and provide advice on how the CFPB’s policies and rulemakings affect community...
New Regulations Provide Relief for Usury Headache

New Regulations Provide Relief for Usury Headache

by dehs | Sep 1, 2020 | Financial Institutions, Recent News

It is a truism in banking that federal regulations are a burden for the industry, and bankers often cite compliance with federal regulations as a significant burden. In a rare exception to that truism, the Office of the Comptroller of the Currency and the Federal...
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