Banking & Financial Services

More and more, banks and other financial services institutions are offering a broad range of financial services products under one roof. These institutions rely on law firms who understand these different services and are able to see the big picture in an increasingly complex regulatory and financial landscape. Verrill's Banking & Financial Services Group is comprised of an experienced team of attorneys who provide a single integrated legal resource for financial services clients.

Members of the group regularly provide legal advice to financial institutions on a wide range of transactional and operational issues, including:

  • General Corporate, Business, and Securities Law
  • Regulations related to deposit and checking accounts, including funds availability, check payment, electronic funds transfers, joint and trustee accounts.
  • Bank security and privacy issues
  • Responding to trustee process, tax liens, and orders to withhold and deliver
  • Offering of bank related products, including securities, property insurance, credit insurance, and title insurance
  • Licensing and qualification
  • Reviewing and drafting complex mortgage, retail lending, and deposit agreements
  • Consumer lending issues, including ECOA, home mortgage disclosure, Truth-in-Lending, Fair Credit Reporting, Plain Language Law, and RESPA
  • Formation and operation of affiliates under Maine's Universal Bank Charter laws, including non-depository trust companies and insurance sales subsidiaries Bank mergers and acquisitions
  • Remote deposit capture services and associated equipment leasing
  • Municipal finance and collateralization of deposits
  • Affiliated business relationships, including third party servicing arrangements
  • The Group recently represented a non-bank client in its role as a bank customer in connection with its obligations and liabilities arising from a series of fraudulent electronic funds transfers.

In addition to providing regulatory services to banks, Verrill's Banking & Financial Services Group works closely with attorneys from other practice groups throughout the firm to offer truly comprehensive legal services to its clients.

Firm Highlights

Blog

DOL Proposes New Electronic Disclosure Rules for Retirement Plans

Publication/Podcast

Building a Respectful and Inclusive Workplace

News

Verrill Attorney Elected Secretary of National Workers’ Compensation Defense Network Executive Board

(November 13, 2019) – Verrill attorney Elizabeth Connellan Smith was recently elected secretary of the National Workers’ Compensation Defense Network (NWCDN). Smith has been a member of the NWCDN since 2006, and was first...

Blog

Five Employment Law Traps For CFOs Tasked with HR Oversight

Overseeing human resources -- a hat that many CFOs wear -- may mean having to make crucial decisions about hiring and policy, performance management and discipline, and employee terminations. Such decisions may affect HR...

Publication/Podcast

Is a Benefit Corporation Right for You?

Matter

Establishment of Non-Depository Trust for National Company

Verrill served as special counsel to a national firm in the chartering and licensing of a Maine non-depository trust company as the client’s wholly-owned subsidiary. Non-depository trust companies are highly regulated, and the matter...

Event

PRIM&R's 2019 Advancing Ethical Research Conference

News

Verrill Welcomes Patent Attorney Dean Phelps

(November 13, 2019) – Verrill is pleased to welcome patent attorney Dean Phelps to the firm’s Boston office. Dean is the fifth patent attorney to join Verrill in the past nine months as the...

Matter

Helping Non-Depository Trust Companies Do Business in Other States

Verrill has helped to form more non-depository trust companies in Maine than any other law firm. We have also helped our trust clients when they look to expand their business into other states. In...

Event

Maine Rural Water Association's 39th Annual Technical Conference and Tradeshow

Employment and labor attorney Tawny Alvarez and Jim Cohen will be presenting at the Maine Rural Water Association's 39th Annual Technical two-day conference on December 10-20, 2019. The event will focus on offering educational...