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

With CARES Act, Congress provides retirement plan relief and group health plan changes

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, includes a number of provisions that affect retirement plan sponsors and participants. These provisions are designed to provide...

Event

Central Maine Human Resources Association Chapter Meeting: Flexible Work Options

Employment and labor attorney Tawny Alvarez will be presenting at the Central Maine Human Resources Association Chapter Meeting. This month's chapter meeting will focus on flexible work options. Tawny will discuss how policy impacts...

Publication/Podcast

Mental Health Wellness Tips for Quarantine

We understand that self-isolation and quarantine can be mentally, especially with no definitive end to the pandemic in sight. To help you and your family better cope during COVID-19, we have developed a list...

Matter

Management Audit

Verrill represented Emera in its 2016 distribution rate case before the Maine PUC. The case involved issues relating to significant new capital investments, including Emera's new customer information system and a controversial substation investment...

Publication/Podcast

Updated FDA COVID-19 Guidance for Conduct of Clinical Trials

On March 27, 2020, the U.S. Food & Drug Administration (“FDA”) updated its prior guidance on the “ Conduct of Clinical Trials of Medical Products during COVID-19 Pandemic ,” with an appendix adding a...

News

Verrill Signs Pledge in Support of Advancing Diversity & Inclusion in Connecticut Legal Community

(March 10, 2020) – Verrill has officially joined the Connecticut Bar Association in its ongoing commitment to advancing diversity and inclusion in the region’s legal community by signing “The Connecticut Legal Community’s Diversity &...

News

Enforcement Issues with SJC Ruling for the Rockweed Industry

Environmental attorney Gordon Smith was quoted in the Machias Valley News Observer article, "One year after SJC ruling, enforcement issues plague rockweed industry," discussing the Ross v. Acadian Seaplant's decision in Maine. Questions about...

Event

2020 OHRP Exploratory Workshop

Health care attorney Emily Fogler will be presenting at the 2020 OHRP Exploratory Workshop in the third session, discussing sharing responsibilities and protecting participants - redefining roles in the single IRB era. Stay tuned...

Matter

Management Inefficiency

Verrill represented Emera in its 2017 distribution rate case before the Maine PUC, which included: defeating Staff's proposed reduction to allowed return on equity for "management inefficiency;" approval of new expenditures, such as an...

Blog

CARES Act Imposes Limits on Executive Pay over $425,000 for Businesses Seeking Financial Assistance

On Friday, March 27, 2020, the $2 trillion assistance package known as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act provides a variety of...