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_Banking Law

What is the Gramm-Leach-Bliley Act of 1999?“The Gramm-Leach-Bliley Act of 1999 repeals the longstanding separation between banking and securities activities codified in the Glass-Steagall Act.

The Act repeals the blanket exemption of banks from broker-dealer registration under the Exchange Act, and replaces it with targeted exceptions for certain securities activities.

In addition, the Act contains financial privacy provisions that require financial institutions to provide customers with the opportunity to ‘opt out’ of having certain non-public customer information shared with third parties.”

Source: U.S. Securities and Exchange Commission

By applying our comprehensive experience in legal issues related to financial services and banking, the New York banking law attorneys at The Law Offices of Newman & Drukman have established themselves as a leading professional resource for both U.S. and foreign banks seeking reliable legal counsel.

With more than two decades of unsurpassed service to the banking and finance industries, the New York banking lawyers at The Law Offices of Newman & Drukman have a firmly established and distinguished reputation for outstanding representation.

Our firm has the demonstrated skills in handling complex transactional and regulatory matters. We also offer excellence in bank litigation. Among the issues addressed by our firm are:

●   Bank mergers & acquisitions
●   New bank formations
●   Branch applications
●   Bank examinations
●   Bank holding company restructuring
●   CAMELS bank-rating system issues
●   Bank insurance and securities activities
●   Memoranda of Understandings
●   Cease and Desist Orders
●   Truth in Savings
●   Truth in Lending
●   Capital adequacy and risk-based capital
●   Insider transactions
●   Community Reinvestment Act
●   Compliance and strategic planning issues within the framework of the Gramm-Leach-Bliley Act of                1999

In our work with foreign banks, the New York banking attorneys at The Law Offices of Newman & Drukman offer advice and guidance to firms seeking to establish a presence in the U.S.  From detailed strategic planning initiatives to issues of compliance with state and federal banking regulations, our firm has the experience and proficiencies needed to ensure that we provide reliable advice and guidance aimed at supporting successful outcomes for our financial and banking clients. In addition, we offer counsel to individuals and organizations that encounter issues in the course of conducting business with banking institutions.

For recognized capabilities in all aspects of banking law for both foreign and domestic organizations, contact the New York banking attorneys at The Law Offices of Newman & Drukman. Our accomplished legal professionals are pleased to provide you with the personalized service and attention to detail that your business demands. We invite you to contact our firm to schedule a consultation.

The Law Offices of Newman & Drukman represent clients throughout the New York City and Long Island area, including Queens, the Bronx, and Nassau and Suffolk counties.