It seems like it would be impossible to cybersquat a .bank domain name.
National Arbitration Forum handed down a decision for MySummit.bank today. This is the first UDRP filed against a .bank domain and may well be the last.
Why? Well, to register a .bank domain you have to be part of the banking community and your registered domain must “correspond to a trademark, trade name or service mark of the business or organization”. This is all verified by the registry. (Listen to DNW Podcast #81 with Craig Schwartz of .Bank.)
So anyone that doesn’t represent a bank, bank service provider or other related entity can’t register .bank domains. That eliminates most cybersquatting. Then, even if you do qualify to register, you must register a domain that represents your bank’s brand.
I’d almost argue that any UDRP filed against a .bank domain is reverse domain name hijacking.
The MySummit.bank case was filed by Summit Financial Group, Inc against Summit National Bank. The former owns MySummit.com.
For the reasons I’ve outlined above, the complainant failed to show that the registrant lacks right or legitimate interests in the domain and that it was registered in bad faith.