Newsletters

07.13.23

Blockchain Update: Lummis-Gillibrand Crypto Regulation Bill Reintroduced Following Tumultuous Year

Sens. Cynthia Lummis (R. Wyo.) and Kristen Gillibrand (D. N.Y.) have reintroduced their landmark bipartisan crypto bill known as the Lummis-Gillibrand Responsible Financial Innovation Act (“Lummis-Gillibrand Act” or “LG Act”).


06.22.23

DOJ Provides Guidance on Factors That Will Influence Future Bank Merger Reviews

In remarks before the Brookings Institution on June 20, 2023, Assistant United States Attorney General Jonathan Kanter provided detailed insights into the work by the Department of Justice’s Antitrust Division to implement President Biden’s 2021 Executive Order on Promoting Competition ...


06.15.23

Dodd-Frank Clawback Rule: NYSE and Nasdaq Extend Effective Date for Compliance to December 1, 2023

On June 9, 2023, the Securities and Exchange Commission (SEC) approved the “clawback” listing standards proposed by the New York Stock Exchange (NYSE) and Nasdaq, including the amendments filed by each, extending the effective date to October 2, 2023 (see the NYSE Amendment and the ...


06.12.23

Commercial Financing Disclosure Laws Continue to Spread

U.S. states continue to consider and adopt statutes requiring TILA-like disclosures in connection with various types of commercial financing transactions. 


06.06.23

The Employee Retention Credit: Reduce Employer Payroll Taxes and Generate Cash

Added to federal tax law by the 2020 Coronavirus Aid, Relief, and Economic Security Act and further expanded in 2021, the Employee Retention Credit can significantly reduce an employer’s federal employment taxes.


05.12.23

Replenishing the Deposit Insurance Fund: A ‘Modest’ Proposal by the FDIC

On May 11, 2023, the Federal Deposit Insurance Corporation (FDIC) approved a notice of proposed rulemaking (NPR) to place a special assessment on larger banks in order to recover the costs associated with protecting uninsured depositors from certain significant bank failures that happened earlier ...


05.10.23

Colorado’s Attempt to Prevent State Banks From Exporting Home State Interest Rates May Fail

The Colorado legislature proposed HB 23-1229, which would, among other things, opt the state out of Sections 521 to 523 of the Depository Institutions Deregulation and Monetary Control Act, thereby seeking to prevent federally insured state-chartered banks from lending in Colorado at the rates ...


04.11.23

The Next Regulatory Shoe To Drop: Predictions Following Recent Bank Failures

Recent bank failures followed by stresses on other regional banks have resulted in a variety of theories of causes and predictable finger-pointing among various constituencies, followed by proposals for new legislative and regulatory restrictions.


04.04.23

CFPB Issues Final Rule on Small Business Data Collection

On March 30, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited final rule to implement Section 1071 of the Dodd-Frank Act.


03.16.23

Real Estate Guidance For Construction Loans in FDIC Receivership

Real estate developers may be wondering what to expect for upcoming draws of construction loans or credit lines to fund real estate development if the FDIC places their lender into receivership.