Both federal and state governments have agencies that regulate banks and financial institutions.  Each agency has its own distinctive purpose, some of which only regulate certain types of institutions.  Some of these agencies include:

• Board of Governors of the Federal Reserve
• FDIC – Federal Deposit Insurance Corporation
• Office of the Comptroller of the Currency
• National Credit Union Administration
• Office of Thrift Supervision
• Each state also has its own regulatory agency

As technology continues to evolve, the issues surrounding the banking industry expand as well.  Identity theft, money laundering, and other crimes, in addition to stricter regulations have given banking and finance lawyers plenty of clients to constantly counsel through difficult times.  New laws, such as the Patriot Act, have tightened the restrictions placed upon financial institutions, in an effort to prevent illegal acts and terrorism.

If you are starting a new bank, under federal or state laws, and you need legal expertise and/or legal representation, a bank and finance attorney has the know-how to guide you through your day-to-day affairs, and give you sound advice that is actually of substance.  A banking and finance attorney can also assist if you believe that you may have a legal claim against one of these institutions.  As with other civil lawsuits, claims arising in this area of the law have their own statute of limitations, which puts a time limit on when one may bring a lawsuit.