Firm News
How and Why Schulte Signed on to the Public Nuisance Suit Over the 1921 Tulsa Race Massacre
AmLaw Litigation Daily
January 28, 2021
Schulte has announced that the firm has joined a legal team of civil and human rights attorneys who are suing local governments, the Oklahoma National Guard and other officials on behalf of survivors of the 1921 Tulsa Race Massacre, seeking to “remedy the ongoing nuisance” caused by the mob attack which leveled much of the 40-square-block Greenwood community in Tulsa, left hundreds of Black residents dead and thousands homeless. In this article, partner, litigation co-chair and pro bono chair Michael Swartz and special counsel for pro bono initiatives Sara Solfanelli discuss the significance of the case and Schulte's role in the litigation.
The Schulte team is led by Michael Swartz, Sara Solfanelli and litigation associate and Task Force for Racial Justice Initiatives co-chair McKenzie Haynes. The team also includes litigation associates and members of the Task Force for Racial Justice Initiatives Ekenedilichukwu (Keni) Ukabiala and Angela Garcia; individual client services associate and member of the Task Force for Racial Justice Initiatives Victoria Harris; and Schulte lawyers Oscar Saunders, AnnaLise Bender-Brown and John Garces.
Read more about Schulte's involvement here.
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Alerts
On June 28, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a notice of proposed rulemaking that would amend existing anti-money laundering/countering the financing of terrorism (“AML/CFT”) program[1] regulations to require that financial institutions establish, implement and maintain effective, risk-based and reasonably designed AML/CFT programs with certain minimum components, including a mandatory risk assessment process (hereinafter, “Proposed Rule”).[2] For purposes of the Proposed Rule, “financial institutions” include: banks; broker dealers; mutual funds; futures commission merchants (“FCMs”) and introducing brokers in commodities (“IB-Cs”); insurance companies; money services businesses (“MSBs”); casinos and card clubs; dealers in precious metals, precious stones or jewels; operators of credit card systems; loan or finance companies; and housing government sponsored enterprises.[3] In addition to establishing minimum risk assessment requirements for these AML/CFT programs, the Proposed Rule would require that financial institutions document each component of their AML/CFT programs and make this documentation available to FinCEN or its designee, which can include the appropriate agency to which FinCEN has delegated examination authority,[4] or the appropriate SRO.[5] The Proposed Rule would also require that these AML/CFT programs be approved and overseen by the financial institution’s board of directors or, if the financial institution does not have a board of directors, an equivalent governing body.