Blog

Speaking and Mentoring Engagement at Teen Entrepreneur Academy 07/24/17

Harriet B. Alexson, Esq. will be participating at the TEEN ENTREPRENEUR ACADEMY (“TEA”)   at Concordia University, School of Business, Irvine, CA the week of July 24th, 2017 as a speaker and mentor.    TEA is a one-week residential program focused on education and training for aspiring high school entrepreneurs worldwide.  The program includes speakers, coaches, mentors […]

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Compensation of Finders In The Sale Of California Securities

Compensation Practice The “finders” exemption, went into effect on January 1, 2016 at Corporations Code Section 25206.1.     Finders who satisfy the requirements of the exemption can now receive transaction-based compensation on the sale of a security in California. The exemption is available to individuals (not otherwise registered as a broker-dealer or agent) who meet the […]

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Does the ADA Apply to Bank Websites and Apps?

The Americans with Disabilities Act (“ADA”)  prohibits workplace discrimination against individuals with disabilities and requires the elimination of physical barriers to public locations.   There is an unresolved legal issue as to whether the ADA’s existing language applies to websites. The applicable  provision of Title III of the ADA provides “[n]o individual shall be discriminated against […]

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Conference Of Bank Supervisors File Complaint Against The OCC Over Fintech Charters

The Conference of State Bank Supervisors (“CSBS”), which represents state chartered banks nationwide, filed suit against the Office of the Comptroller of Currency (“OCC”)  in the US district court of the District of Columbia in April, 2017, regarding  the OCC’s issuance of a new non-bank “fintech charter”. The complaint  alleges that the OCC is over-reaching […]

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CFPB And Commercial Credit

Does the Consumer Financial Protection Bureau (“CFPB”)  have jurisdiction over “commercial credit”? Rep. Emanuel Cleaver II,  raised certain concerns  in a recent letter to the CFPB (the “Cleaver Letter”) , which can help us answer this question.  As we know, fintech lending is based upon the use of algorithms to determine whether to provide commercial […]

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Special Purpose National Bank Charter

On March 15, 2017, the Office of the Comptroller of the Currency (“OCC”), the regulator and chartering authority for national banks and federal savings associations, issued a draft supplement to the Comptroller’s Licensing Manual entitled Evaluating Charter Applications from Financial Technology Companies (“Manual”).  The Manual describes the process through which financial technology (“fintech”) companies may […]

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Strategic Alliances: Legal Consideration in Financial Services Transactions

Strategic Alliances  are contractual agreements between business entities, or in some cases individuals  to share business assets, including but not limited to intellectual property, licensing, etc.  contribute funds and to some extent share technology and employees  to achieve a mutual financial goal.    These arrangements are well-known in the real estate industry as joint ventures and […]

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