Bitcoin is a relatively new 'cryptocurrency' in which in which encryption technology enables consumers and businesses to exchange goods for currency over the Internet without having to rely on the element of trust in order to ensure payment. Users buy Bitcoins and...
In the fall of 2012, voters in both Colorado and Washington introduced a new era in the United States when they voted to legalize the sale of marijuana. In response to the landmark referenda, the Department of Justice issued a revised "Guidance Regarding Marijuana...
The First Circuit has held that, under Massachusetts law, a mortgagee's interest in a mortgage in default is inadequate to state a claim under the Massachusetts try title statute. The Plaintiffs in Lemelson, et al. v. U.S. Bank, N.A. filed suit under the Massachusetts...
Banks and other financial institutions that maintain ATMs got good news from Congress to close out the year. On December 11, 2012, the Senate passed H.R. 4367 by unanimous consent, following passage by the House of Representatives in July. The bill now moves to the...
The Democratic Steering Committee has approved the assignment of Senator-elect Elizabeth Warren, one of the most vocal critics of the financial services sector, to the Senate Banking Committee. Warren previously led a congressional oversight panel that criticized the...
On July 30, the Massachusetts Supreme Judicial Court ("SJC") issued an important decision in a Ponzi scheme captioned Go-Best Assets Limited v. Citizens Bank of Massachusetts, 463 Mass. 50 (2012). The case involved a now-disbarred Massachusetts attorney named Morris...
In the course of performing their job duties, bank tellers and their supervisors may occasionally be asked to perform a transaction that appears to be somewhat suspicious. For example, a non-customer of the bank may arrive in the teller line and ask to cash a large...
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