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Coronavirus/COVID-19 › Financial Institutions › Financial Services Industry

Read guidance, analysis, and updates on the myriad issues arising from the global response to the COVID-19 pandemic. Updated hourly every day, the insights published here are written by leading lawyers and law firms... more +
Read guidance, analysis, and updates on the myriad issues arising from the global response to the COVID-19 pandemic. Updated hourly every day, the insights published here are written by leading lawyers and law firms helping to make sense of insurance, employment, tax, securities, M&A, risk management, and every other consideration touched by this crisis. Follow the channel for a daily email brief of the latest and best updates. less -
Cozen O'Connor

Hundreds of Millions Lost by Seniors Due to Bankruptcies Filed by CCRC Communities

Cozen O'Connor on

The Wall Street Journal has reported that recent bankruptcies nationwide in the Continuing Care Retirement Community (CCRC) segment of the long-term care marketplace have resulted in residents losing their buy-in deposit....more

McGlinchey Stafford

CFPB Issues Auto Finance Supervisory Highlights Sharing Marketing, Servicing, and Add-on Findings

McGlinchey Stafford on

A new “Auto Finance Special Edition” of the Consumer Financial Protection Bureau’s (CFPB or Bureau) Supervisory Highlights was released on October 7, 2024, and it is important for those overseeing compliance in their auto...more

Ballard Spahr LLP

CFPB Releases Mortgage Servicing Report on Borrower Experiences During the COVID-19 Pandemic

Ballard Spahr LLP on

The complexity of loss mitigation programs designed to assist distressed mortgage borrowers during the COVID-19 pandemic may have been too daunting for many borrowers to seek help, the CFPB said, in a report released last...more

Paul Hastings LLP

Ticking Fees Trends in the U.S. Loan Market

Paul Hastings LLP on

Ticking fees for extended commitment periods (often over at least 4 to 6-months) have long been a feature of committed financings in the U.S. loan market. Such fee structures were initially most common in syndicated deals,...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 3, Issue 4, April 2023

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Banks are Borrowing Less from the Federal Reserve - “’So the fact that they are now borrowing less means that they’re trying to get back to normal.’” Why this is important: Investors and commentators look to several...more

Hogan Lovells

UK FCA overdrafts remedies: Positive findings tempered by cost of living and upcoming Consumer Duty

Hogan Lovells on

The FCA’s evaluation of its 2019 personal current account (PCA) overdraft rule changes - introduced as part of its High-Cost Credit Review - paints a largely positive picture in terms of good consumer outcomes. However, the...more

Orrick, Herrington & Sutcliffe LLP

Treasury awards $1.73 billion to improve access to capital and financial services in underserved communities

Orrick, Herrington & Sutcliffe LLP on

On April 10, Vice President Kamala Harris and Deputy Secretary of the Treasury Wally Adeyemo announced that the U.S. Treasury Department’s Community Development Financial Institutions (CDFIs) Fund has awarded more than $1.73...more

White & Case LLP

Mixed Signals: US M&A FY 2022

White & Case LLP on

Although the record-breaking deal activity of 2021 spilled over into 2022, headwinds in the first quarter developed into a significant slowdown during the rest of 2022, with an expectation of continued slowness as we enter...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: Issue 12, December 2022

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US Senators Ask SoFi About Its Banking Law Compliance = “Four U.S. senators have signed a letter to SoFi Technologies CEO Anthony Noto expressing concerns about the online personal finance company and online bank’s digital...more

Hogan Lovells

FCA Report on the review of borrowers in financial difficulty following COVID-19

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At a time when there is an increased focus on the UK's economic outlook, the FCA has published a report highlighting how firms are treating customers in financial difficulties. The FCA review has already led to significant...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Volume 2, Issue 8

Spilman Thomas & Battle, PLLC on

Biden Signs Bills Aimed at Catching Pandemic Business Loan Cheats - "President Joe Biden signed a pair of bills that will give the Justice Department more time to investigate and prosecute people accused of fraudulently...more

Moore & Van Allen PLLC

Special Situations Client Bulletin - Legal Review Guide for Stressed/Distressed Credits

Moore & Van Allen PLLC on

Although there may be differing views as to whether the U.S. economy is heading into some form of market correction, many would argue that certain warning signs have appeared that would suggest the possibility of an economic...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Volume 2, Issue 5

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Banking Law Rooted in Civil Rights Era Gets a 21st Century Update "The Community Reinvestment Act basically mandates that if you open a bank in a low-income neighborhood, you can’t just take that neighborhood’s deposits and...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, June 3, 2022

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Federal Agencies- U.S. Department of the Treasury- U.S. Treasury Severs More Networks Providing Support for Putin and Russia's Elites-...more

Wiley Rein LLP

Wiley Consumer Protection Download (January 24, 2022)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Robins Kaplan LLP

CPI Hits Predictions, Rises 7% in December

Robins Kaplan LLP on

Consumer Price Index numbers out on Wednesday hit economists’ expectations, an increase of 7% as compared to a year earlier. Though the figure was expected, it was also the first time CPI rose that much since 1982, as strong...more

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2021

Nutter McClennen & Fish LLP on

FDIC Board Governance Dispute on Review of Bank Mergers Aired Publicly - CFPB Director Rohit Chopra on December 9 published on the CFPB’s website a blog post captioned “How Should Regulators Review Bank Mergers?” in...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Issue 10

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Welcome to our last Promissory Notes issue of 2021. As we all know, 2021 was another interesting year in the banking and finance industry, and we expect 2022 to be much the same. Our goal, as with all of our publications, is...more

Nutter McClennen & Fish LLP

Nutter Bank Report: October 2021

Nutter McClennen & Fish LLP on

Federal and State Financial Regulators Publish New Guidance on LIBOR Transition - The federal banking agencies, the NCUA and the CFPB, in conjunction with the state bank and state credit union regulators, have issued joint...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter -October 2021 # 2

Troutman Pepper Locke on

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

White & Case LLP

Financial institutions M&A: Asset/Wealth Management

White & Case LLP on

Financial institutions M&A sector trends: asset/wealth management — H1 2021 and outlook for H2 2021 - Market consolidation continues at a feverish pace. The UK tops the leader board, notching up 17 noteworthy deals in H1...more

Conyers

Alternative Financing in the Shipping Industry

Conyers on

In the decade since the global financial crisis, ship financing has undergone considerable change. Traditionally, debt financing with banks and equity financing were the most common methods used by shipping companies to raise...more

Hudson Cook, LLP

CFPB Bites of the Month - September Top 10

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So what happened at the CFPB in the past month? Bite #10 - Trade groups submitted a letter to the House Subcommittee supporting HR 4773 - Nearly 30 trade groups, led by the Consumer Bankers Association (CBA), submitted...more

Hudson Cook, LLP

CFPB Bites of the Month - August Top 10

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So what happened at the CFPB in the past month? Bite #10 - The CFPB celebrated 10 years. On July 19, Americans for Financial Reform (AFR) invited CFPB Acting Director Dave Uejio to speak at a celebration of the...more

Goodwin

FDIC Seeks Comment on Supervisory Approach to Examinations During Pandemic

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) is seeking information and comment regarding the FDIC’s supervisory approach to examinations during the pandemic; the FDIC’s tech lab, FIDTECH, announced a “tech...more

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