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Today is: July 21, 2024  
 

  Bankers' Compliance Group® (BCG) is an organization of dozens of banks, credit unions, and savings associations that have associated for the purpose of retaining and sharing legal counsel for group legal services.

BCG members pay a monthly membership fee for monthly briefings, newsletters, all-day seminars, Standard Procedures Manuals, telephone access to legal counsel, and special projects that are of common interest to members.

The law firm of Aldrich & Bonnefin, PLC* acts as legal counsel for BCG and provides expertise in all areas of banking operations, consumer, mortgage and commercial lending, regulatory compliance, corporate governance, negotiable instruments, legal processes, new accounts, and much, much more.  

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It's More Than Just Compliance!

Bankers' Compliance Group® is known throughout California for advising, teaching and keeping its members informed about developments in legal and regulatory compliance matters.

Also available to BCG members and non-members alike is a full range of legal services for financial institutions.

Aldrich & Bonnefin* (counsel to Bankers' Compliance Group®) is available to assist financial institutions with all aspects of loan structuring and documentation, as well as loan workouts and collections. Our experienced attorneys assist clients with questions about various issues regarding both consumer, mortgage, and commercial loans ranging from regulatory compliance to due diligence and structuring. We offer assistance in all aspects of documentation, from providing sample language for a specialized provision, to providing customized documentation for all or a portion of a loan transaction.

In addition, we offer a series of generic forms that will supplement most computer-generated documentation systems. Our form documents are designed to provide flexibility, that may not be available from an automated system, often needed in order to customize a document for special terms and conditions required for a specific transaction. We also offer assistance with setup and training for automated documentation systems.

Aldrich & Bonnefin* also provides legal and regulatory support in connection with all areas of banking operations and financial technology (fintech) services. We advise clients regarding regulatory compliance issues involving banking operations, including Regulations DD, CC and E, and prepare customer-facing account disclosures, account agreements and other documentation related to banking operations. The firm's unique involvement in “on-the-spot” telephone support to clients for immediate preventive advice provides reduced risk and promotes early resolution of operations claims and disputes.


U.S. Supreme Court Overturns Chevron Decision, Banks May Benefit from Ruling Giving Judicial Branch More Power Over Federal Agencies*

The debate over the extent to which judicial deference should be applied to federal agency decisions has persisted since the first federal agencies were created. For the last 40 years, the touchstone for judicial deference has been the U.S. Supreme Court’s decision in Chevron U.S.A., Inc. v. National Resources Defense Council, Inc., 467 U.S. 837 (Chevron). Read more.


Supreme Court Finds that CFPB’s Funding Structure Passes Constitutional Muster*

On May 16, 2024, the Supreme Court issued a long-awaited ruling in the challenge to the CFPB’s funding structure. The Court found that the funding mechanism of the CFPB does not violate the Appropriations Clause of the United States Constitution. CFPB v. Cmty. Fin. Servs. Ass’n of Am. Ltd, et al., No. 22-448 (U.S. May 16, 2024).  Read more.


California Privacy Protection Agency Publishes CCPA Enforcement Advisory*

The California Privacy Protection Agency (CPPA) is responsible for overseeing the regulation and enforcement of the California Consumer Privacy Act (CCPA). While the CPPA was originally granted the authority to enforce the CCPA (and its implementing regulations) starting from July 1, 2023, this enforcement capability was initially delayed due to a court order issued by a California Superior Court. See Cal. Chamber of Commerce v. Cal Privacy Protection Agency, No. 34-2023-8000416- CU-WM-GDS (Cal. Super. Ct. June 30, 2023). Read more.

 

* Janet Bonnefin is retired from the practice of law with the firm.
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