Bankers Compliance Group


Today is: March 29, 2023	Monthly Newsletter	Calendar of Events	Important Updates

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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California Privacy Protection Agency CCPA Rulemaking Update*

As reported in last month’s BCG Newsletter, on February 3, 2022, the California PrivacyProtection Agency (CPPA) voted to approve a final version of its updated regulations to implement the California Consumer Privacy Act (CCPA). The CCPA regulations address new statutoryrequirements created by the California Privacy Rights Act of 2020 (CPRA). Read more.

E-Commerce Lighting, Inc. v. E-Commerce Trade, LLC: Impact of Third-party Arbitration on Lenders*

In general, lenders do not include arbitration clauses in commercial loan documents in orderto preserve the lender’s right to seek judicial relief in the event a borrower defaults on the loan.However, could lenders now find themselves needing to intervene in arbitration between theirborrowers and another party involving collateral pledged for the loan? Read more.

Supreme Court Will Hear CFPB Constitutionality Case*

As we have reported over the past few months, there have been a few cases in which the CFPB’s adversaries are alleging that the agency’s funding violates the Appropriations Clause and, thus, is unconstitutional. One of those cases involves a group of plaintiffs who sued the CFPB, attempting to have a court vacate what remained of the Payday Lending Rule. Read more.

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

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