Newsletters

03.30.20

Congressional Action—Lending Programs and Relief Provisions Under the CARES Act

On March 27, 2020, President Donald Trump signed into law the CARES Act, an approximately $2 trillion stimulus package to mitigate the adverse economic effects of the COVID-19 pandemic.


03.26.20

New York Orders Fee Waivers, Mortgage Forbearance

The New York Department of Financial Services (DFS) released guidance for its regulated financial institutions and mortgage servicers in light of the COVID-19 pandemic, authorizing banks to take “reasonable and prudent actions” to work with consumers and small businesses that have been ...


03.26.20

Important Considerations for Lenders in Response to the Coronavirus Pandemic

Given the severe economic impact of the coronavirus pandemic, lenders across the country are facing, and will continue to face, increasingly difficult decisions regarding borrowers that cannot make payments or fulfill financial covenants because their revenue has dramatically decreased as a result.


03.25.20

Feds, States Offer Guidance on Loan Modifications

Aiming to encourage financial institutions to accommodate borrowers affected by COVID-19, federal and state regulators issued an interagency statement on loan modifications.


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 ...