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Summer 2022

The Bankers' Statement:  Summer 2022

2022 UCC Amendments Address Emerging Technologies, Including Virtual Currencies

The Uniform Commercial Code (UCC) governs commercial transactions broadly throughout the United States and has been adopted by every state in a nearly identical form.  

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Bank Directors and the Art of Serving Multiple Masters

The banking environment is somewhat unique for directors in providing an always-perplexing issue: Who is my constituency? My institution? My shareholders? The regulators? Which master do I serve?  

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FDIC Advisory to FDIC-Insured Institutions Regarding Deposit Insurance and Crypto Firms

The Federal Deposit Insurance Corporation (FDIC) has taken several actions in recent weeks to highlight its concerns around the misrepresentations and potential customer confusion relating to crypto companies and the scope of FDIC insurance coverage.  

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Presentation of Claims Against Decedents’ Estates: Current Pitfalls and Coming Changes

Ohio law concerning creditors’ claims against a decedent’s estate is exacting. A creditor must take action within six months of a person’s death—whether or not they have notice of the death.  

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Update on Cybersecurity Breach Notification Requirements

As cybersecurity concerns and threats continue to rise exponentially for banks of all sizes and types, the regulatory landscape is changing just as quickly.  

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M&A:  Be Prepared

Despite the relative dearth of financial institution M&A activity in the current market of uncertainty, boards always need to be prepared for taking advantage of strategic opportunities.  

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About the Vorys Banking Group

With nearly 20 lawyers dedicated to our banking practice, we have hundreds of years of combined practical, hands-on experience in the banking industry. We have been named a "Top Lead Legal Advisor" by American Banker magazine and a Go-To Law Firm® in banking and finance, securities and corporate transactions by Fortune 500 general counsel.

Our group has extensive experience with all aspects of bank corporate and regulatory legal matters, and our attorneys are in constant contact with senior representatives of state and federal banking agencies concerning a diverse variety of significant client matters. We have been intimately involved in the comprehensive rewrite of Ohio banking laws, currently underway with the Ohio Division of Financial Institutions. In fact, since the inception of this project, one of our lawyers, along with representatives from the Ohio Division of Financial Institutions and the Ohio Bankers League, has been a member of the four-person team tasked with handling the rewrite.

We represent public and non-public institutions, from community banks and thrifts to large, multinational financial institutions throughout the United States including clients in Ohio, Washington, D.C., Pennsylvania, Maryland, Virginia, Arizona, Florida, Indiana, Michigan, Kentucky, Missouri, New York, North Carolina, South Carolina and West Virginia.

We assist our clients with bank, thrift, holding company and non-bank affiliate formations; securities law matters; board governance and education; regulatory enforcement actions involving state and federal agencies; mergers, acquisitions and divestitures; branch acquisitions and divestitures; regulatory compliance; capitalization, recapitalization and private equity as well as debt transactions; litigation; employment law matters; executive compensation and benefit plans; tax matters; and the negotiation of all types of contracts. We also represent financial institutions and other institutional lenders, as well as borrowers, in all types of complex commercial and real estate financings, bankruptcies and restructurings.

If you have an idea for an article you would like us to pursue, please contact your Vorys attorney. We hope you enjoy the read.

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