Newsletters

03.24.20

California Agencies Release Guidance for Banks, Lenders

The California Department of Business Oversight and the Business, Consumer Services and Housing Agency released two new guidance documents—one for financial institutions and a second for escrow agents, finance lenders and services, student loan servicers, residential mortgage lenders and ...


03.19.20

Financial Institution Regulators Promulgate Extensive Guidance on COVID-19

While the government currently responds to the changing landscape posed by the COVID-19 virus, federal financial institution regulators are moving quickly to address multiple areas of concern posed by these unprecedented developments.


03.13.20

Public Company Considerations During the Coronavirus Outbreak

In December 2019, COVID-19, a strain of coronavirus, emerged in Wuhan, China.


03.13.20

COVID-19 and M&A Transactions

COVID-19 (more commonly known as the novel coronavirus) has had a swift and far-reaching impact beyond the spread of the disease.


03.11.20

Federal Reserve Board Takes Control

Following years of uncodified interpretive guidance, the Board of Governors of the Federal Reserve System adopted a final rule addressing the issue of how to determine whether one company has “control” over another company for purposes of the Bank Holding Company Act and the Home ...


03.11.20

FDIC Offers De Novo Guidance for Nontraditional Applicants

In an attempt to help non-banks and fintechs understand the de novo application process, the Federal Deposit Insurance Corporation (FDIC) released new materials, including a supplement to its Deposit Insurance Application Procedures Manual (the Supplement) that describes special considerations and ...


03.11.20

Expansion of OFAC Sanctions Jurisdiction Impacting Non-US Businesses

In connection with a settlement with a Swiss company, the Office of Foreign Assets Control (OFAC) has extended its reach in an important development for foreign businesses which may utilize software or hardware originating from the United States.


03.09.20

The SEC Proposes to Expand Capital-Raising Opportunities for Reg D, Reg A and Crowdfunding Offerings

On March 4, 2020, the Securities and Exchange Commission (SEC) issued proposed rules to simplify certain aspects of exempt offerings with the goal of expanding access to capital for issuers and increasing opportunities for investors. The proposed rules are set forth in SEC Release No. ...


02.27.20

CFPB: Debt Collectors, Consumers Receive Clarity on Time-Barred Debt

Proposing a specific limit on debt collectors but also providing a safe harbor for compliance, the Consumer Financial Protection Bureau (CFPB) has issued proposed regulations that would allow debt collectors to contact consumers about time-barred debt as long as the collectors disclose, in the ...


02.27.20

Maryland Bill Would Ban Merchant Cash Advances

On February 3, 2020, Maryland State Senator Benjamin Kramer introduced a bill that would completely prohibit merchant cash advances (MCAs) in Maryland.