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California’s New Money Transmission Law Sweeps Up

By Marie Hogan* Effective as of January 1, 2011, California’s sweeping new Money Transmission Act (the “MTAct”) became applicable to the money transmission business. The MTAct expanded the state’s regulation and license requirements for money transmitters by covering domestic money transmitters, including stored value device issuers and other businesses that offer new types of alternative payment and mobile applications.  The new law assigns regulation and licensing authority to the California Department of Financial Institutions Background The regulation of money transmission varies from state to state, but most states regulate domestic money transmission involving their residents. The MTAct now covers domestic money

Joseph & Cohen Join Amicus Committee of Bank Counsel in Support of Bryan Cave LLP

SAN FRANCISCO, CA – March 28, 2011. Joseph & Cohen, Professional Corporation, announced today that its co-founders, Jonathan D. Joseph and Jonathan M. Cohen, joined the Ad Hoc Committee of Bank Counsel (“Amici” or “Committee”) in support of the law firm, Bryan Cave LLP (“Bryan Cave”), in a case brought against them by the FDIC (FDIC v. Bryan Cave LLP, 10-cv-03666).  The FDIC  sued Bryan Cave in November 2010  in the U.S. District Court in Atlanta, charging Bryan Cave with failing to hand over bank records related to the October 2010 collapse of Kansas-based Hillcrest Bank. The Committee, comprised of

California Supreme Court Zip Code Case Slaps Retailer

In a victory for consumer privacy rights, the California Supreme Court recently ruled that Jessica Pineda’s rights under the Song-Beverly Credit Card Act were violated when a clerk at specialty retailer Williams-Sonoma asked for and recorded her ZIP code in connection with an in-store purchase with her credit card. The unanimous opinion, written by Justice Moreno, concluded that an individual’s ZIP code is protected “personal identification information” that businesses in California cannot request for in-store purchases with a credit card, and then record that information for purposes unrelated to approving the credit transaction.  In the longer term, it is likely

Joseph & Cohen Sponsors 2011 Bank President and Directors Conference in Maui

Joseph & Cohen is a sponsor of the Western Independent Banker’s 2011 Bank Presidents, Senior Officers and Directors Conference in Maui, Hawaii.  WIB’s annual conference, attended by leaders of the community banking industry, will focus on preparing for the opportunities and challenges of 2011 and beyond.   Joseph & Cohen is one of the few boutique law firms in California with a core banking law expertise that helps bank CEO’s and bank directors successfully adjust to the opportunities and challenges they face.  Jonathan M. Cohen, one of the firm’s founders, will be a featured speaker at WIB’s “hot topic” session entitled

Joseph Law Corporation Becomes Joseph & Cohen

SAN FRANCISCO, CA – January 27, 2011. Joseph Law Corporation announced today that Jonathan M. Cohen has become a shareholder and director of the firm and the name of the firm has changed to Joseph & Cohen, Professional Corporation.  Mr. Cohen was previously affiliated with the firm as Of Counsel.  Jonathan Joseph, the firm’s founder, was named Chairman and Chief Executive Officer and Mr. Cohen was named President. The firm will continue to emphasize banking, corporate, regulatory, securities, employment and transactional matters as well as commercial and executive employment litigation services for financial institutions, entrepreneurs, businesses, investors and venture capital

Joseph Law Expands its Banking Industry Expertise with Addition of Marie Hogan

SAN FRANCISCO, CA – September 30, 2010. Joseph Law Corporation announced today that it has expanded its banking law expertise through the addition of Marie F. Hogan as Of Counsel to the firm.   Ms. Hogan brings more than thirty years of high level banking experience to the  firm with a core emphasis on representing commercial banks and financial service companies in connection with mortgage lending, bank operations, loan workouts, consumer law and compliance, credit and debit cards as well as bankruptcy and insolvency matters. “We are extremely pleased that Marie Hogan is teaming up with Joseph Law. Her depth of

Jonathan Joseph to Present “Dodd-Frank Executive Compensation and Corporate Governance” Webinar for CalBar

SAN FRANCISCO, CA – August 12, 2010. Joseph Law Corporation announced today that its Managing Partner, Jonathan D. Joseph, will present “Dodd-Frank’s Corporate Governance and Executive Compensation Requirements For Public Companies:  Why Planning Now For 2011 is Essential”  via a live 60 minute webinar on August 18, 2010.  The Calbar’s description of Mr. Joseph’s webinar presentation states: “The Dodd-Frank Wall Street Reform and Consumer Protection Act or “Dodd-Frank” was enacted on July 21, 2010.  Commencing in 2011, a non-binding shareholder “Say on Pay” vote to approve executive compensation may be the most profound executive pay provision in Dodd-Frank. Each public

SF Bank Attorneys Association Invites Jonathan Joseph to Speak about Dodd-Frank Wall Street Reform Act

SAN FRANCISCO, CA – July 21, 2010. The San Francisco Bank Attorneys Association (SFBAA) has invited Jonathan Joseph to be its keynote speaker regarding the newly enacted Dodd Frank Wall Street Reform Act at its monthly luncheon to be held at the Merchants Exchange in San Francisco on August 2, 2010.   Mr. Joseph’s speech to SFBAA’s membership entitled “Dodd-Frank Act – Selected Provisions Impacting the Financial Services Industry” will focus on how and why the final financial reform legislation took shape and its implications for banking organizations. Mr. Joseph, who has over three decades of legal experience in the financial

JOSEPH LAW NEWSBRIEF — “Say On Pay”: Lessons From Keycorp’s 2010 “No On Pay” Vote

By Jonathan D. Joseph* President Obama is expected to sign the Dodd-Frank Bill in July.  Upon signing, a   mandatory shareholder vote requirement related to executive compensation known as “Say on Pay” will become applicable to about 10,000 public companies. During the 2010 proxy season, just over 600 public companies included “say on pay” votes in their proxy statements, but only three failed to obtain “say on pay” approval from their shareholders. One of the three companies whose shareholders rejected executive pay practices in 2010 was Keycorp, an Ohio based regional bank holding company. At its recent annual meeting, 55 percent

Joseph Law Announces Monthly Fixed Fee Model for Employment and Corporate Law Matters as Alternative to Traditional Hourly Billing

SAN FRANCISCO, CA – Joseph Law Corporation announced today that it has begun offering a subscription fee model for employment, transactional, corporate and securities law services as an alternative to the traditional hourly billing format utilized by most business oriented law firms.  “Business clients, particularly those with recurring legal costs and matters, are requiring alternative billing models as an option to the hourly rate structure.  The fixed fee subscription provides predictability and drives down legal costs while encouraging clients to seek legal input earlier.  It is a perfect solution for businesses that routinely require employment and HR advice or have