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

Matter

Community Service

Portland Regional Chamber, Chair (2012-14) Trustee (2008-16; 2019- present) Portland Community Chamber of Commerce, President (2019- ) Trustee (2016-present) Maine State Chamber of Commerce, Trustee (2009 - present) Project Green Schools, Advisory Trustee (2017-present...

Publication/Podcast

PPP Math for the Self-Employed: And, Yes, There is Still Time

The Small Business Administration reports that as of May 23 it still had nearly $150 billion of untapped Paycheck Protection Program funds. The Program has been underutilized by self-employed business owners, in part due...

News

Verrill-law.com Named “Best in Category” at 18th Annual Horizon Interactive Awards

Horizon Interactive Awards Best of Category 2019 badge
Blog

Hand Sanitizer Relief for Distilled Spirits Extension

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...

News

PPP Loans May Trigger a Qui Tam Wave

On May 28, Massachusetts Lawyers Weekly published an article, "PPP Loans Expected to Trigger Qui Tam Wave." In response to the 2020 financial crisis due to COVID-19, the Paycheck Protection Program was launched. Litigation...

Matter

Political Service

Mayor, City of Portland (2005-2006) Portland City Council (2002-2008) Portland City Council Transportation Committee, Chair (2002-2005) Jetport Master Planning Committee, Chair (2005-2007) Greater Portland Transit District, Trustee (2002-2005) Narrow Gauge Rail Alignment Committee, Chair...

Blog

BABLO Issues Guidance on Reopening

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...

Publication/Podcast

Webinar Materials: Avoiding Risk & Litigation in the COVID-19 Work Environment

On May 28, Verrill attorney Tawny Alvarez and MassPay's Paul Carelis presented "Avoiding Risk & Litigation in the COVID-19 Work Environment" and discussed unknowns and liabilities for businesses when returning to work begins. Our...