Author Info for Frost Brown Todd

Raghav Agnihotri

One Big Beautiful Bill Act Cuts the Power: Phase‑Outs, Foreign‑Entity Restrictions, and Domestic Content in Clean‑Energy Credits

On July 4, 2025, President Trump signed H.R. 1—dubbed the One Big Beautiful Bill Act (OBBBA)—enacting significant modifications to clean‑energy credits previously enacted under the Inflation Reduction Act of 2022. OBBBA scales… more

Clean Energy, Compliance, Energy Policy, Energy Sector, Energy Tax Incentives

See all updates »

Chris Ansell

Growing Cybersecurity Risks in the Municipal Bond Market

In November 2024, the Township of White Lake, Michigan, fell victim to a cyberattack resulting in the wiring of approximately $29 million to the unauthorized account of the culprit. Before White Lake imminently closed on its… more

Cyber Attacks, Cybersecurity, Data Protection, Disclosure Requirements, Enforcement Actions

See all updates »

Yazan S. Ashrawi

Short-Term Rental Bans Are Back in the Takings Spotlight

The U. S. District Court for the North District of Illinois recently enjoined the Village of Glen Ellyn from enforcing its short-term rental ban. The court granted a request for a temporary restraining order, which demonstrates… more

Judicial Authority, Local Ordinance, Municipalities, Preliminary Injunctions, Property Owners

See all updates »

Eric A. Baker

Navigating Nearshoring: Recent Trends and Future Outlook

For many reasons, companies in the U.S. have recently invested significantly in “nearshoring,” relocating supply chains to Mexico and Canada. In April, as part of the FBT Connect™ Manufacturing program hosted by Frost Brown… more

Canada, China, International Trade, Investment, Manufacturers

See all updates »

Joe Batchelor

Short-Term Rental Bans Are Back in the Takings Spotlight

The U. S. District Court for the North District of Illinois recently enjoined the Village of Glen Ellyn from enforcing its short-term rental ban. The court granted a request for a temporary restraining order, which demonstrates… more

Judicial Authority, Local Ordinance, Municipalities, Preliminary Injunctions, Property Owners

See all updates »

Jan de Beer

Tariff Letters and Trade Pressure: Changes to the Reciprocal Tariff Program

On April 2, 2025, President Trump promulgated Executive Order 14257, which implemented the “reciprocal tariff” program, designed to bolster domestic manufacturing and address trade imbalances with U.S. trading partners. These… more

Automotive Industry, Canada, Executive Orders, Imports, International Emergency Economic Powers Act (IEEPA)

See all updates »

Barbara Bennett

Proposed HIPAA Security Rule Requires AI Governance

In terms of healthcare data breaches, 2024 was the worst year ever, with the records of at least 53% of the U.S. population involved and two of the biggest healthcare data breaches of 2024 ranking in the top 10 of all time… more

Artificial Intelligence, Cybersecurity, Data Breach, Data Privacy, Data Security

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Brooke Bishop

Proposed HIPAA Security Rule Requires AI Governance

In terms of healthcare data breaches, 2024 was the worst year ever, with the records of at least 53% of the U.S. population involved and two of the biggest healthcare data breaches of 2024 ranking in the top 10 of all time… more

Artificial Intelligence, Cybersecurity, Data Breach, Data Privacy, Data Security

See all updates »

Jason Brace

Integrating Sale-Leaseback Transactions with Mergers and Acquisitions: A Value-Maximization Strategy

When business owners contemplate transitioning to their next venture or life phase, strategically combining a sale-leaseback transaction with a merger and acquisition (M&A) deal can unlock substantial value and optimize outcomes… more

Acquisitions, Business Strategies, Due Diligence, Environmental Social & Governance (ESG), Financing

See all updates »

Austin Brinkley

Antitrust Developments Update for April 2025

In our last antitrust developments publication, we commented on the challenge to the new Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) final rule brought by the U.S. Chamber of Commerce and other parties in the United… more

Acquisitions, Antitrust Litigation, Constitutional Challenges, Department of Justice (DOJ), Enforcement Actions

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Joshua D. Brock

Sale-Leaseback Due Diligence Considerations

This is the fourth installment in our series on sale-leaseback transactions, a real estate financing mechanism growing in popularity. For a recap, check out part one on sale-leaseback fundamentals, part two on reverse… more

Buyers, Commercial Leases, Commercial Real Estate Market, Due Diligence, Environmental Site Assessment

See all updates »

Lindsey A. Bryant

U.S. EPA Announces Retainment of MCLs for PFOA and PFOS and Intent to Rescind and Reconsider MCLs for Other PFAS

The United States Environmental Protection Agency (U.S. EPA) announced today that it will keep the current Maximum Contaminant Levels (MCLs) set by the National Primary Drinking Water Regulations for perfluorooctanoic acid… more

Drinking Water, Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

See all updates »

Catherine F. Burgett

Supreme Court Rejects Requirement That Majority-Group Plaintiffs Meet a Heightened Standard to Bring Title VII Claims

On June 5, 2025, a unanimous U.S. Supreme Court invalidated how some courts evaluated so-called “reverse discrimination” cases. In its decision, the Supreme Court held that a majority-group plaintiff need not show “background… more

Ames v Ohio Department of Youth Services, Appeals, Civil Rights Act, Employment Discrimination, Employment Litigation

See all updates »

S. Bradford Butler

Reasonable Accommodations and Modifications for Tenants Under the Fair Housing Act

Most multifamily owners and managers are aware that discrimination against disabled tenants can result in litigation and increase the project’s operating expenses. However, the Fair Housing Act (FHA) not only prohibits… more

Disability Discrimination, Fair Housing Act (FHA), Housing Developers, Housing Discrimination, Landlords

See all updates »

Tessa L. Castner

Reasonable Accommodations and Modifications for Tenants Under the Fair Housing Act

Most multifamily owners and managers are aware that discrimination against disabled tenants can result in litigation and increase the project’s operating expenses. However, the Fair Housing Act (FHA) not only prohibits… more

Disability Discrimination, Fair Housing Act (FHA), Housing Developers, Housing Discrimination, Landlords

See all updates »

Carrie J. Cecil

TEFRA Approvals: Considerations for Officeholders When Approving Private Activity Bonds

New officeholders often ask us to clarify their responsibilities when it comes to public approval of bonds and the consequences for states and their political subdivisions when they approve bonds as tax-exempt. What follows is a… more

Bonds, Financial Services Industry, Government Agencies, Internal Revenue Code (IRC), Popular

See all updates »

Melody Charlton

Disparate Impact Discrimination in AI Underwriting Alleged Against Student Loan Company

On July 10, 2025, the Massachusetts Attorney General’s Office (AGO) reached a $2.5 million settlement with a private student loan company to resolve allegations that its lending practices violated various consumer protection and… more

Artificial Intelligence, Consumer Protection Laws, Disparate Impact, ECOA, Enforcement Actions

See all updates »

Mason Clutter

Managing Data Security and Privacy Risks in Enterprise AI

Artificial intelligence (AI), particularly generative AI, thrives on vast amounts of data, fueling AI capabilities, insights, and predictions. But with this reliance on data comes potential privacy and security risks. And… more

Artificial Intelligence, Best Practices, Bias, Corporate Governance, Cyber Crimes

See all updates »

J. Christopher Coffman

There is No Sunset in the Land of OZ – Opportunity Zones Renewed by The One Big Beautiful Bill Act

On July 4, 2025, President Trump signed H.R. 1—referred to as the “One Big Beautiful Bill Act” (OBBBA)—which permanently renewed and modified the federal Opportunity Zone tax incentive program that was set to expire at the end… more

Capital Gains, Economic Development, Investment, Investors, Legislative Agendas

See all updates »

Amy Condaras

TEFRA Approvals: Considerations for Officeholders When Approving Private Activity Bonds

New officeholders often ask us to clarify their responsibilities when it comes to public approval of bonds and the consequences for states and their political subdivisions when they approve bonds as tax-exempt. What follows is a… more

Bonds, Financial Services Industry, Government Agencies, Internal Revenue Code (IRC), Popular

See all updates »

Ryan Crum

Reasonable Accommodations and Modifications for Tenants Under the Fair Housing Act

Most multifamily owners and managers are aware that discrimination against disabled tenants can result in litigation and increase the project’s operating expenses. However, the Fair Housing Act (FHA) not only prohibits… more

Disability Discrimination, Fair Housing Act (FHA), Housing Developers, Housing Discrimination, Landlords

See all updates »

Amy F. Curry

There is No Sunset in the Land of OZ – Opportunity Zones Renewed by The One Big Beautiful Bill Act

On July 4, 2025, President Trump signed H.R. 1—referred to as the “One Big Beautiful Bill Act” (OBBBA)—which permanently renewed and modified the federal Opportunity Zone tax incentive program that was set to expire at the end… more

Capital Gains, Economic Development, Investment, Investors, Legislative Agendas

See all updates »

Jeffrey S. Dible

One Big Beautiful Bill Act Enacts a Permanent Increase in the Estate and Gift Tax Lifetime Exclusion Amount for 2025 and Later Years

On July 3, 2025, and by a vote of 218 to 214, the U.S. House of Representative passed the Senate’s amended version of H.R. 1 (also known as the “One Big Beautiful Bill Act” or OBBBA 2025), which is the tax-and-budget… more

Estate Planning, Estate Tax, Exclusions, Federal Taxes, Gift Tax

See all updates »

Megan M. Dollenmeyer

Top 10 Biggest Business Tax Breaks (and Hits) in the One Big Beautiful Bill Act

With a name like the One Big Beautiful Bill Act (OBBBA), you know two things right away: (1) it’s a mouthful, and (2) you’re going to have to wade through a lot to find the useful parts. Fortunately, two tax lawyers already did… more

Base Erosion and Anti-Abuse Tax (BEAT), Bonus Depreciation, Business Taxes, Clean Energy, Corporate Counsel

See all updates »

Scott W. Dolson

Substantiating the Right to Claim QSBS Tax Benefits | Part 1

Section 1202 provides an exclusion from capital gains when a stockholder sells qualified small business stock (QSBS), assuming all eligibility requirements are satisfied. Section 1045 provides for the tax-free rollover of gain… more

Capital Gains, Documentation, Internal Revenue Code (IRC), IRS, Liquidation

See all updates »

Anne E. Duprey

Supreme Court Rejects Requirement That Majority-Group Plaintiffs Meet a Heightened Standard to Bring Title VII Claims

On June 5, 2025, a unanimous U.S. Supreme Court invalidated how some courts evaluated so-called “reverse discrimination” cases. In its decision, the Supreme Court held that a majority-group plaintiff need not show “background… more

Ames v Ohio Department of Youth Services, Appeals, Civil Rights Act, Employment Discrimination, Employment Litigation

See all updates »

Gregory Dutton

One Big Beautiful Bill Act Cuts the Power: Phase‑Outs, Foreign‑Entity Restrictions, and Domestic Content in Clean‑Energy Credits

On July 4, 2025, President Trump signed H.R. 1—dubbed the One Big Beautiful Bill Act (OBBBA)—enacting significant modifications to clean‑energy credits previously enacted under the Inflation Reduction Act of 2022. OBBBA scales… more

Clean Energy, Compliance, Energy Policy, Energy Sector, Energy Tax Incentives

See all updates »

Michael A. Freimann

Keeping Up With New and Existing Pay Transparency Laws

For multi-state employers, pay transparency requirements often get lost in the shuffle in the ever-changing landscape of federal, state, and local employment laws. A number of states, including California, Colorado, and New… more

Compliance, Disclosure Requirements, Employee Benefits, Employee Rights, Employment Policies

See all updates »

J. Dylan Grafe

Midjourney Faces Disney Lawsuit Just as Court Backs Fair Use in AI Training

On June 11, 2025, Disney and several affiliated production companies filed a federal lawsuit against Midjourney, Inc., a leading artificial intelligence (AI) image-generation platform. The suit alleges “calculated and willful”… more

Artificial Intelligence, Copyright Infringement, Copyright Litigation, Fair Use, Intellectual Property Litigation

See all updates »

Meredith Grant

Keeping Up With New and Existing Pay Transparency Laws

For multi-state employers, pay transparency requirements often get lost in the shuffle in the ever-changing landscape of federal, state, and local employment laws. A number of states, including California, Colorado, and New… more

Compliance, Disclosure Requirements, Employee Benefits, Employee Rights, Employment Policies

See all updates »

Trey Grayson

Large Kentucky Multifamily Housing Projects Are Now IRB-Eligible

Kentucky local governments now have an additional tool to help address their housing shortages thanks to legislation enacted during the 2025 Kentucky General Assembly. A provision of Senate Bill (SB) 25 authorizes local… more

Affordable Housing, Bonds, Housing Market, Multi-Family Housing, New Legislation

See all updates »

Ben Hadden

Growing Cybersecurity Risks in the Municipal Bond Market

In November 2024, the Township of White Lake, Michigan, fell victim to a cyberattack resulting in the wiring of approximately $29 million to the unauthorized account of the culprit. Before White Lake imminently closed on its… more

Cyber Attacks, Cybersecurity, Data Protection, Disclosure Requirements, Enforcement Actions

See all updates »

Philip K. Hartmann

Short-Term Rental Bans Are Back in the Takings Spotlight

The U. S. District Court for the North District of Illinois recently enjoined the Village of Glen Ellyn from enforcing its short-term rental ban. The court granted a request for a temporary restraining order, which demonstrates… more

Judicial Authority, Local Ordinance, Municipalities, Preliminary Injunctions, Property Owners

See all updates »

J. Austin Hatfield

Sick of ALJs? The New Right to Federal Court During Agency Prosecutions

Practitioners and scholars all agree that last summer, the U.S. Supreme Court overhauled the administrative state. And no, not simply by overturning Chevron, which was undoubtably the most significant decision of the Supreme… more

Administrative Law Judge (ALJ), Administrative Procedure Act, Chevron Deference, Constitutional Challenges, Enforcement Actions

See all updates »

Stephen N. Haughey

U.S. EPA Announces Retainment of MCLs for PFOA and PFOS and Intent to Rescind and Reconsider MCLs for Other PFAS

The United States Environmental Protection Agency (U.S. EPA) announced today that it will keep the current Maximum Contaminant Levels (MCLs) set by the National Primary Drinking Water Regulations for perfluorooctanoic acid… more

Drinking Water, Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

See all updates »

W. Michael Hensley

Recent Survey Shows Class Actions on the Rise and More Expensive to Defend

Recently, Carlton Fields issued its 2025 Class Action Survey based on interviews of general counsel or senior counsel at more than 300 Fortune 1000 and other large companies across a variety of industries. The results from this… more

Artificial Intelligence, Class Action, Consumer Fraud, Corporate Counsel, Data Privacy

See all updates »

Jillyn Hess-Verdon

One Big Beautiful Bill Act Enacts a Permanent Increase in the Estate and Gift Tax Lifetime Exclusion Amount for 2025 and Later Years

On July 3, 2025, and by a vote of 218 to 214, the U.S. House of Representative passed the Senate’s amended version of H.R. 1 (also known as the “One Big Beautiful Bill Act” or OBBBA 2025), which is the tax-and-budget… more

Estate Planning, Estate Tax, Exclusions, Federal Taxes, Gift Tax

See all updates »

Blake Humphrey

Clicking Has Consequences: Fourth Circuit Rules Streaming Service’s Arbitration Clause in Website Registration Is Enforceable

Proponents of arbitration received a victory in federal court this past Tuesday when the U.S. Court of Appeals for the Fourth Circuit issued its published decision in Dhruva v. CuriosityStream, Inc… more

Appeals, Arbitration, Arbitration Agreements, Clickwrap Agreements, Consumer Contracts

See all updates »

Rahat Huq

Texas Bill Could Eliminate PSF Guaranty on School Bonds

Pursuant to Section 45.052 of the Texas Education Code, school district and charter school bonds (including refunding bonds) are eligible to be guaranteed by the corpus and income of the Permanent School Fund (PSF). If obtained,… more

Bonds, Financial Markets, Investment, Investors, New Legislation

See all updates »

Nolan M. Jackson

Kentucky Bills Would Tax and Strictly Regulate Hemp-Infused THC Beverages Like Alcohol

In the years since the 2018 Farm Bill became federal law, a burgeoning industry of hemp-infused THC beverages has proliferated throughout the country, including in Kentucky. The 2018 Farm Bill legalized the domestic production… more

Hemp, Marijuana, Marijuana Related Businesses, New Legislation, Regulatory Agenda

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Alexandra Just

Public Finance Municipal Bond, Disclosures and Tax Compliance Recap

Frost Brown Todd’s (FBT) Public Finance Practice Group hosted its annual Public Finance 360° Seminar on Feb. 20, 2025. Webinar topics included a 2025 municipal bond market update, financial disclosure considerations, and tax… more

Arbitrage, Disclosure Requirements, Investment, Investors, IRS

See all updates »

Chris Kim Kahn

U.S. EPA Announces Retainment of MCLs for PFOA and PFOS and Intent to Rescind and Reconsider MCLs for Other PFAS

The United States Environmental Protection Agency (U.S. EPA) announced today that it will keep the current Maximum Contaminant Levels (MCLs) set by the National Primary Drinking Water Regulations for perfluorooctanoic acid… more

Drinking Water, Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

See all updates »

Brad S. Keeton

Antitrust Developments Update for April 2025

In our last antitrust developments publication, we commented on the challenge to the new Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) final rule brought by the U.S. Chamber of Commerce and other parties in the United… more

Acquisitions, Antitrust Litigation, Constitutional Challenges, Department of Justice (DOJ), Enforcement Actions

See all updates »

Panagiota "Patricia" Koutsis

Integrating Sale-Leaseback Transactions with Mergers and Acquisitions: A Value-Maximization Strategy

When business owners contemplate transitioning to their next venture or life phase, strategically combining a sale-leaseback transaction with a merger and acquisition (M&A) deal can unlock substantial value and optimize outcomes… more

Acquisitions, Business Strategies, Due Diligence, Environmental Social & Governance (ESG), Financing

See all updates »

Scott Krapf

Indiana Political Subdivisions Required to Livestream, Record, and Archive All Public Meetings Beginning July 1, 2025

In 2023, the Indiana General Assembly adopted HEA 1167-2023, which created a new statutory section within the Open-Door Law statutes (I.C. 5-14-1.5-2.9). That statute was subsequently amended in HEA 1306-2024 and is scheduled to… more

Disclosure Requirements, Government Agencies, New Legislation, Public Access Laws, Public Meetings

See all updates »

Grace A. Kuntz

Reasonable Accommodations and Modifications for Tenants Under the Fair Housing Act

Most multifamily owners and managers are aware that discrimination against disabled tenants can result in litigation and increase the project’s operating expenses. However, the Fair Housing Act (FHA) not only prohibits… more

Disability Discrimination, Fair Housing Act (FHA), Housing Developers, Housing Discrimination, Landlords

See all updates »

Elizabeth La Rocca

End of E-Verify Alerts for Terminated Work Authorization Shifts Compliance Burden to Employers

On June 20, 2025, the U.S. Department of Homeland Security (DHS) announced a change in how E-Verify will manage the termination notification of employees with Employment Authorization Documents (EADs) that have been revoked… more

Cuba, Department of Homeland Security (DHS), E-Verify, Employer Responsibilities, Employment Authorization Documents (EAD)

See all updates »

Alan K. MacDonald

FinCEN Eliminates Beneficial Ownership Reporting by Domestic Companies and U.S. Residents Under the Corporate Transparency Act

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued its promised interim final rule to eliminate the obligation of United States residents and entities organized under domestic law to file beneficial… more

Beneficial Owner, Corporate Transparency Act, Disclosure Requirements, Exemptions, Filing Requirements

See all updates »

Glorify Batsirai Mandima

Public Finance Municipal Bond, Disclosures and Tax Compliance Recap

Frost Brown Todd’s (FBT) Public Finance Practice Group hosted its annual Public Finance 360° Seminar on Feb. 20, 2025. Webinar topics included a 2025 municipal bond market update, financial disclosure considerations, and tax… more

Arbitrage, Disclosure Requirements, Investment, Investors, IRS

See all updates »

Shannon Keene Martin

Managing Uncertainty: Regulatory Impacts on the Manufacturing Industry

At Frost Brown Todd’s inaugural FBT Connect™ Manufacturing event on April 8, experts opined on the regulatory impacts facing the manufacturing industry today. Jonathan Miller, partner-in-charge of Frost Brown Todd’s Washington,… more

Biden Administration, Employment Litigation, Environmental Protection Agency (EPA), Manufacturers, NLRB

See all updates »

Brian S. Masterson

There is No Sunset in the Land of OZ – Opportunity Zones Renewed by The One Big Beautiful Bill Act

On July 4, 2025, President Trump signed H.R. 1—referred to as the “One Big Beautiful Bill Act” (OBBBA)—which permanently renewed and modified the federal Opportunity Zone tax incentive program that was set to expire at the end… more

Capital Gains, Economic Development, Investment, Investors, Legislative Agendas

See all updates »

Kevin N. McMurray

U.S. EPA Announces Retainment of MCLs for PFOA and PFOS and Intent to Rescind and Reconsider MCLs for Other PFAS

The United States Environmental Protection Agency (U.S. EPA) announced today that it will keep the current Maximum Contaminant Levels (MCLs) set by the National Primary Drinking Water Regulations for perfluorooctanoic acid… more

Drinking Water, Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

See all updates »

Katelyn O. Meckes

D.C. Political News Round-Up | May 2025

In this month’s deep dive, Frost Brown Todd D.C. Partner-in-Charge Jonathan Miller interviews attorney and tariff expert Jan de Beer to discuss how businesses can navigate the United States’ ever-evolving tariff policies. From… more

Budget Reconciliation, China, Clean Energy, Climate Change, Connected Cars

See all updates »

Melanie L. McCoy

One Big Beautiful Bill Act Enacts a Permanent Increase in the Estate and Gift Tax Lifetime Exclusion Amount for 2025 and Later Years

On July 3, 2025, and by a vote of 218 to 214, the U.S. House of Representative passed the Senate’s amended version of H.R. 1 (also known as the “One Big Beautiful Bill Act” or OBBBA 2025), which is the tax-and-budget… more

Estate Planning, Estate Tax, Exclusions, Federal Taxes, Gift Tax

See all updates »

Frances Kern Mennone

There is No Sunset in the Land of OZ – Opportunity Zones Renewed by The One Big Beautiful Bill Act

On July 4, 2025, President Trump signed H.R. 1—referred to as the “One Big Beautiful Bill Act” (OBBBA)—which permanently renewed and modified the federal Opportunity Zone tax incentive program that was set to expire at the end… more

Capital Gains, Economic Development, Investment, Investors, Legislative Agendas

See all updates »

Jonathan Miller

D.C. Political News Round-Up | May 2025

In this month’s deep dive, Frost Brown Todd D.C. Partner-in-Charge Jonathan Miller interviews attorney and tariff expert Jan de Beer to discuss how businesses can navigate the United States’ ever-evolving tariff policies. From… more

Budget Reconciliation, China, Clean Energy, Climate Change, Connected Cars

See all updates »

Zachary D. Mills

Tariff Letters and Trade Pressure: Changes to the Reciprocal Tariff Program

On April 2, 2025, President Trump promulgated Executive Order 14257, which implemented the “reciprocal tariff” program, designed to bolster domestic manufacturing and address trade imbalances with U.S. trading partners. These… more

Automotive Industry, Canada, Executive Orders, Imports, International Emergency Economic Powers Act (IEEPA)

See all updates »

Mekesha H. Montgomery

Managing Uncertainty: Regulatory Impacts on the Manufacturing Industry

At Frost Brown Todd’s inaugural FBT Connect™ Manufacturing event on April 8, experts opined on the regulatory impacts facing the manufacturing industry today. Jonathan Miller, partner-in-charge of Frost Brown Todd’s Washington,… more

Biden Administration, Employment Litigation, Environmental Protection Agency (EPA), Manufacturers, NLRB

See all updates »

Thierry R. Montoya

California’s Climate Disclosure Rulemaking Enters a New Phase

California’s requirements for climate-related corporate disclosures are evolving as the California Air Resources Board (CARB) continues to implement Senate Bill (SB) 253 and SB 261. Although these statutes were enacted in 2023… more

California, Climate Change, Corporate Governance, Disclosure Requirements, Environmental Policies

See all updates »

Edward Moore, Jr.

Legislature Takes Steps to Ensure Texas Remains the Most Business-Friendly State in the Union

On February 27, 2025, Senator Bryan Hughes (R-Tyler) filed Senate Bill 29 (S.B. 29), proposing several corporate reforms designed to ensure that Texas remains the premier business-friendly jurisdiction in the nation. If enacted,… more

Board of Directors, Business Entities, Business Judgment Rule, Business Litigation, Business Ownership

See all updates »

Ricardo Morales

Legislature Takes Steps to Ensure Texas Remains the Most Business-Friendly State in the Union

On February 27, 2025, Senator Bryan Hughes (R-Tyler) filed Senate Bill 29 (S.B. 29), proposing several corporate reforms designed to ensure that Texas remains the premier business-friendly jurisdiction in the nation. If enacted,… more

Board of Directors, Business Entities, Business Judgment Rule, Business Litigation, Business Ownership

See all updates »

Emma H. Mulvaney

Integrating Sale-Leaseback Transactions with Mergers and Acquisitions: A Value-Maximization Strategy

When business owners contemplate transitioning to their next venture or life phase, strategically combining a sale-leaseback transaction with a merger and acquisition (M&A) deal can unlock substantial value and optimize outcomes… more

Acquisitions, Business Strategies, Due Diligence, Environmental Social & Governance (ESG), Financing

See all updates »

Lindsay S. Oak

Disparate Impact Discrimination in AI Underwriting Alleged Against Student Loan Company

On July 10, 2025, the Massachusetts Attorney General’s Office (AGO) reached a $2.5 million settlement with a private student loan company to resolve allegations that its lending practices violated various consumer protection and… more

Artificial Intelligence, Consumer Protection Laws, Disparate Impact, ECOA, Enforcement Actions

See all updates »

Nilesh (Neal) Patel

Midjourney Faces Disney Lawsuit Just as Court Backs Fair Use in AI Training

On June 11, 2025, Disney and several affiliated production companies filed a federal lawsuit against Midjourney, Inc., a leading artificial intelligence (AI) image-generation platform. The suit alleges “calculated and willful”… more

Artificial Intelligence, Copyright Infringement, Copyright Litigation, Fair Use, Intellectual Property Litigation

See all updates »

Nancy Eff Presnell

What Does the CFPB’s Withdrawal of Guidance Documents Mean for Bank Compliance

On May 12, 2025, the Consumer Financial Protection Bureau (CFPB) announced the withdrawal of various guidance, interpretive rules, policy statements, and advisory opinions issued since the CFPB assumed its functions in 2011… more

Banks, Compliance, Consumer Financial Protection Bureau (CFPB), Executive Orders, Financial Services Industry

See all updates »

William T. Repasky

What Does the CFPB’s Withdrawal of Guidance Documents Mean for Bank Compliance

On May 12, 2025, the Consumer Financial Protection Bureau (CFPB) announced the withdrawal of various guidance, interpretive rules, policy statements, and advisory opinions issued since the CFPB assumed its functions in 2011… more

Banks, Compliance, Consumer Financial Protection Bureau (CFPB), Executive Orders, Financial Services Industry

See all updates »

W. Davis Riddle

Navigating Nearshoring: Recent Trends and Future Outlook

For many reasons, companies in the U.S. have recently invested significantly in “nearshoring,” relocating supply chains to Mexico and Canada. In April, as part of the FBT Connect™ Manufacturing program hosted by Frost Brown… more

Canada, China, International Trade, Investment, Manufacturers

See all updates »

Aaron R. Rodgers

Tariff Letters and Trade Pressure: Changes to the Reciprocal Tariff Program

On April 2, 2025, President Trump promulgated Executive Order 14257, which implemented the “reciprocal tariff” program, designed to bolster domestic manufacturing and address trade imbalances with U.S. trading partners. These… more

Automotive Industry, Canada, Executive Orders, Imports, International Emergency Economic Powers Act (IEEPA)

See all updates »

Cheryl K. Rosenberg

Texas Bill Could Eliminate PSF Guaranty on School Bonds

Pursuant to Section 45.052 of the Texas Education Code, school district and charter school bonds (including refunding bonds) are eligible to be guaranteed by the corpus and income of the Permanent School Fund (PSF). If obtained,… more

Bonds, Financial Markets, Investment, Investors, New Legislation

See all updates »

Emilia Rubin

The State of the CFPB Amid Reduction in Force Litigation

The Consumer Financial Protection Bureau (CFPB) has been at the center of significant legal and operational turmoil in recent months. Ongoing litigation surrounding the CFPB’s reduction in force (RIF) will likely reshape the… more

Banks, Consumer Financial Protection Bureau (CFPB), Enforcement Actions, Final Rules, Financial Institutions

See all updates »

Jerry J. Ruiz

Making Sense of Small Biz Fair Lending Compliance

Starting this June, the first tier of small business lenders will begin collecting certain data to report to the Consumer Financial Protection Bureau under Rule 1071, issued pursuant to Section 1071 of the Dodd-Frank Act. While… more

Compliance Dates, Consumer Financial Protection Bureau (CFPB), Covered Financial Institutions, Dodd-Frank, Enforcement

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Matthew Schantz

Managing Data Security and Privacy Risks in Enterprise AI

Artificial intelligence (AI), particularly generative AI, thrives on vast amounts of data, fueling AI capabilities, insights, and predictions. But with this reliance on data comes potential privacy and security risks. And… more

Artificial Intelligence, Best Practices, Bias, Corporate Governance, Cyber Crimes

See all updates »

Wes Scott

Integrating Sale-Leaseback Transactions with Mergers and Acquisitions: A Value-Maximization Strategy

When business owners contemplate transitioning to their next venture or life phase, strategically combining a sale-leaseback transaction with a merger and acquisition (M&A) deal can unlock substantial value and optimize outcomes… more

Acquisitions, Business Strategies, Due Diligence, Environmental Social & Governance (ESG), Financing

See all updates »

Daniel Shackle

Indiana Political Subdivisions Required to Livestream, Record, and Archive All Public Meetings Beginning July 1, 2025

In 2023, the Indiana General Assembly adopted HEA 1167-2023, which created a new statutory section within the Open-Door Law statutes (I.C. 5-14-1.5-2.9). That statute was subsequently amended in HEA 1306-2024 and is scheduled to… more

Disclosure Requirements, Government Agencies, New Legislation, Public Access Laws, Public Meetings

See all updates »

Jeffrey S. Shoskin

Supreme Court Rejects Requirement That Majority-Group Plaintiffs Meet a Heightened Standard to Bring Title VII Claims

On June 5, 2025, a unanimous U.S. Supreme Court invalidated how some courts evaluated so-called “reverse discrimination” cases. In its decision, the Supreme Court held that a majority-group plaintiff need not show “background… more

Ames v Ohio Department of Youth Services, Appeals, Civil Rights Act, Employment Discrimination, Employment Litigation

See all updates »

Sarah K. Simon

Carveouts and Cash Flow: Additional Impacts of Cherryland Mall

As discussed in our preceding post, the Michigan Court of Appeals’ decision in Wells Fargo Bank v. Cherryland Mall has had significant implications for non-recourse loans, particularly concerning solvency covenants often found… more

Borrowers, Carve Out Provisions, Commercial Loans, Commercial Real Estate Contracts, Lenders

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Robin R. Smith

Texas Bill Could Eliminate PSF Guaranty on School Bonds

Pursuant to Section 45.052 of the Texas Education Code, school district and charter school bonds (including refunding bonds) are eligible to be guaranteed by the corpus and income of the Permanent School Fund (PSF). If obtained,… more

Bonds, Financial Markets, Investment, Investors, New Legislation

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Stephen M. Sparks

TEFRA Approvals: Considerations for Officeholders When Approving Private Activity Bonds

New officeholders often ask us to clarify their responsibilities when it comes to public approval of bonds and the consequences for states and their political subdivisions when they approve bonds as tax-exempt. What follows is a… more

Bonds, Financial Services Industry, Government Agencies, Internal Revenue Code (IRC), Popular

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Michael J. Stegman

One Big Beautiful Bill Act Enacts a Permanent Increase in the Estate and Gift Tax Lifetime Exclusion Amount for 2025 and Later Years

On July 3, 2025, and by a vote of 218 to 214, the U.S. House of Representative passed the Senate’s amended version of H.R. 1 (also known as the “One Big Beautiful Bill Act” or OBBBA 2025), which is the tax-and-budget… more

Estate Planning, Estate Tax, Exclusions, Federal Taxes, Gift Tax

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Colin C. Stouffer

Carveouts and Cash Flow: Additional Impacts of Cherryland Mall

As discussed in our preceding post, the Michigan Court of Appeals’ decision in Wells Fargo Bank v. Cherryland Mall has had significant implications for non-recourse loans, particularly concerning solvency covenants often found… more

Borrowers, Carve Out Provisions, Commercial Loans, Commercial Real Estate Contracts, Lenders

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Griffin Terry Sumner

You Need Appellate Counsel Sooner Than You Think: Why Hire Appellate Counsel Before Trial vs. After Verdict

For high-stakes litigation, waiting until after an adverse verdict to engage appellate counsel can be a costly mistake. Traditionally, clients didn’t think about an investment in appellate counsel until after a final judgment… more

Appeals, Appellate Courts, Business Litigation, Collaboration, Commercial Litigation

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Alexis Switzer

EEOC Lectures Employers About Unlawful DEI-Related Discrimination

On March 19, 2025, the Equal Employment Opportunity Commission (EEOC) issued two technical assistance documents (“Guidance”) regarding employer diversity, equity, and inclusion (DEI) policies, programs, and practices, and how… more

Affirmative Action, Compliance, Diversity and Inclusion Standards (D&I), Employment Discrimination, Employment Policies

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Laura H. Theilmann

Large Kentucky Multifamily Housing Projects Are Now IRB-Eligible

Kentucky local governments now have an additional tool to help address their housing shortages thanks to legislation enacted during the 2025 Kentucky General Assembly. A provision of Senate Bill (SB) 25 authorizes local… more

Affordable Housing, Bonds, Housing Market, Multi-Family Housing, New Legislation

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Jared Tully

The State of the CFPB Amid Reduction in Force Litigation

The Consumer Financial Protection Bureau (CFPB) has been at the center of significant legal and operational turmoil in recent months. Ongoing litigation surrounding the CFPB’s reduction in force (RIF) will likely reshape the… more

Banks, Consumer Financial Protection Bureau (CFPB), Enforcement Actions, Final Rules, Financial Institutions

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Megan Vandermeer

Top 10 Biggest Business Tax Breaks (and Hits) in the One Big Beautiful Bill Act

With a name like the One Big Beautiful Bill Act (OBBBA), you know two things right away: (1) it’s a mouthful, and (2) you’re going to have to wade through a lot to find the useful parts. Fortunately, two tax lawyers already did… more

Base Erosion and Anti-Abuse Tax (BEAT), Bonus Depreciation, Business Taxes, Clean Energy, Corporate Counsel

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Jason Villalba

Legislature Takes Steps to Ensure Texas Remains the Most Business-Friendly State in the Union

On February 27, 2025, Senator Bryan Hughes (R-Tyler) filed Senate Bill 29 (S.B. 29), proposing several corporate reforms designed to ensure that Texas remains the premier business-friendly jurisdiction in the nation. If enacted,… more

Board of Directors, Business Entities, Business Judgment Rule, Business Litigation, Business Ownership

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Alicia Visse-Kroger

End of E-Verify Alerts for Terminated Work Authorization Shifts Compliance Burden to Employers

On June 20, 2025, the U.S. Department of Homeland Security (DHS) announced a change in how E-Verify will manage the termination notification of employees with Employment Authorization Documents (EADs) that have been revoked… more

Cuba, Department of Homeland Security (DHS), E-Verify, Employer Responsibilities, Employment Authorization Documents (EAD)

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Ryan Whitaker

There is No Sunset in the Land of OZ – Opportunity Zones Renewed by The One Big Beautiful Bill Act

On July 4, 2025, President Trump signed H.R. 1—referred to as the “One Big Beautiful Bill Act” (OBBBA)—which permanently renewed and modified the federal Opportunity Zone tax incentive program that was set to expire at the end… more

Capital Gains, Economic Development, Investment, Investors, Legislative Agendas

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Geoffrey M. White

Reverse Build-to-Suit: Sale Leaseback Transaction with a Twist

A reverse build-to-suit is a specialized real estate mechanism where the tenant develops and builds out the leased property to support the tenant’s use. This is a “reverse” of the common build-to-suit model, where a landlord… more

Build-to-Suit, Commercial Leases, Commercial Real Estate Market, Construction Contracts, Construction Industry

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Tyler J. Wicker

Here Comes the Sun(set of the TCJA): Taking Advantage of the 2025 Exclusion Amounts

The 2017 Tax Cuts and Jobs Act (the “TCJA”) brought significant changes to the federal estate and gift tax laws, marking a pivotal shift in the landscape of estate planning and wealth transfer. Enacted on December 22, 2017,… more

Charitable Donations, Estate Planning, Estate Tax, Gift Tax, Irrevocable Trusts

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Timothy E. Wieher

Integrating Sale-Leaseback Transactions with Mergers and Acquisitions: A Value-Maximization Strategy

When business owners contemplate transitioning to their next venture or life phase, strategically combining a sale-leaseback transaction with a merger and acquisition (M&A) deal can unlock substantial value and optimize outcomes… more

Acquisitions, Business Strategies, Due Diligence, Environmental Social & Governance (ESG), Financing

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Justin L. Yarnell

Three Tax Issues Manufacturers Should Watch in 2025 Budget Bill

On May 13, the House Ways and Means Committee voted to approve a $3.8 trillion tax bill that would make permanent much of the 2017 Tax Cuts and Jobs Act. The bill then moved to the House Budget Committee, where it was merged… more

Bonus Depreciation, Budget Reconciliation, Energy Tax Incentives, Inflation Reduction Act (IRA), Internal Revenue Code (IRC)

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Emily E. Ziegler

There is No Sunset in the Land of OZ – Opportunity Zones Renewed by The One Big Beautiful Bill Act

On July 4, 2025, President Trump signed H.R. 1—referred to as the “One Big Beautiful Bill Act” (OBBBA)—which permanently renewed and modified the federal Opportunity Zone tax incentive program that was set to expire at the end… more

Capital Gains, Economic Development, Investment, Investors, Legislative Agendas

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Beau F. Zoeller

Large Kentucky Multifamily Housing Projects Are Now IRB-Eligible

Kentucky local governments now have an additional tool to help address their housing shortages thanks to legislation enacted during the 2025 Kentucky General Assembly. A provision of Senate Bill (SB) 25 authorizes local… more

Affordable Housing, Bonds, Housing Market, Multi-Family Housing, New Legislation

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Brian D. Zoeller

One Big Beautiful Bill Act Cuts the Power: Phase‑Outs, Foreign‑Entity Restrictions, and Domestic Content in Clean‑Energy Credits

On July 4, 2025, President Trump signed H.R. 1—dubbed the One Big Beautiful Bill Act (OBBBA)—enacting significant modifications to clean‑energy credits previously enacted under the Inflation Reduction Act of 2022. OBBBA scales… more

Clean Energy, Compliance, Energy Policy, Energy Sector, Energy Tax Incentives

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Alex Zurbuch

Clicking Has Consequences: Fourth Circuit Rules Streaming Service’s Arbitration Clause in Website Registration Is Enforceable

Proponents of arbitration received a victory in federal court this past Tuesday when the U.S. Court of Appeals for the Fourth Circuit issued its published decision in Dhruva v. CuriosityStream, Inc… more

Appeals, Arbitration, Arbitration Agreements, Clickwrap Agreements, Consumer Contracts

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