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 interdisciplinary team of experienced attorneys who understand the needs of banks and other financial services institutions. Our group advises clients on a wide range of 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
  • Municipal finance and collateralization of deposits
  • Affiliated business relationships, including third party servicing arrangements
  • Advice on selection and protection of trademarks and branding; representation in disputes over trademark, copyright and other intellectual property matters
  • Drafting, review and negotiation of Software Licenses, Software-as-a-Service Agreements and other Information Technology contracts
  • Employee benefits and executive compensation advice including, 401(k) plans, pension plans, health plans, supplemental executive retirement plans, and deferred compensation arrangements
  • Labor and employment advice, including with respect to wage and hour laws, fair labor standards, ADA, harassment issues, employee misconduct, and the conduct of internal investigations
  • Bankruptcy, workout, forbearance agreements, and other aspects of borrower financial distress
  • Advising on COVID-19 Loan and Aid Programs, including Paycheck Protection Program loans

Firm Highlights

Blog

Financial Institutions . . . In the News

The July 2020 U.S. Foreclosure Market Report was released. ( DS News 8.27.2020) Federal Chairman Jerome Powell shows a plan to bolster the economy for the long-term. ( The Hill 8.26.2020) A May report...

Event

Employee Non-Competition and Non-Solicitation Restrictions: Traps for the Unwary

On Tuesday, October 6, employment and labor attorneys Tawny Alvarez and Scott Connolly will be presenting with The Middlesex Corporation Vice President and General Counsel Joshua Wernig for Verrill and ACC Northeast's program, Employee...

Matter

2017 Emera Distribution Rate Case

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...

Publication/Podcast

Domestic Discovery for Foreign Arbitrations? Location, Location, Location!

International transactions can generate international disputes. A party to a lawsuit in one country may believe that a non-party in another country has information that could be put to good use in the case...

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...

News

Michael K. Fee to Lead Verrill’s Nationally-Recognized Health Care and Life Sciences Practice Amidst Recent Changes

(August 31, 2020) – Verrill is pleased to announce Michael K. Fee as the new leader of Verrill’s nationally-recognized Health Care & Life Sciences Group. The Group has a long history of representing a...

Publication/Podcast

Zoom ADR: Best Practices for Virtually Every Virtual ADR Event

As the post-COVID-19 “new normal” comes into focus, it is unlikely that civil jury trials will happen in many jurisdictions until at least the spring of 2021. For family law matters, cases involving children...

News

Verrill Partner Recognized as a Leading U.S. Bankruptcy and Restructuring Lawyer

(August 25, 2020) – Verrill partner Roger A. Clement, Jr. was recognized in the inaugural 2020 Lawdragon 500 Leading U.S. Bankruptcy and Restructuring Lawyers for excellence in his practice. Lawdragon introduced the first edition...

Blog

Allocation of Medical Loss Ratio Rebates and Premium Refunds

One consequence of the current COVID-19 crisis for group health plans has been the significant reduction in employee preventive care and elective medical procedures as people shelter in place and socially distance. When group...

Blog

Action Item & FAQ: New Maine Paid Leave Rules Address Business Concerns

On January 1, 2021, LD 369, An Act Authorizing Earned Employee Leave takes effect for Maine employers. Passed by the Legislature in 2019, Maine employers have been patiently waiting for clarification as to the...