News & Analysis as of

Federal Reserve State and Local Government

Bradley Arant Boult Cummings LLP

State Laws Show Uniformity Is Key To Truly Fair Bank Access

Over the past few years, one of the more noteworthy types of new financial services rules at the state level has been the so-called fair access to banking law. Concerns about ideological debanking have gained political...more

Jenner & Block

US Fintech Landscape for 2025

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With the change of presidential administrations in January, there has been a significant shift in the landscape for financial technology companies in the United States for 2025 and beyond. First, the new administration...more

Bass, Berry & Sims PLC

Healthcare Trends & Transactions Q3 2024

Bass, Berry & Sims PLC on

In the healthcare mergers and acquisitions (M&A) market, while deal volumes varied across different sectors, by and large the sure and steady pace of deal volume in Q2 continued into Q3. Moreover, several positive...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 3, Issue 8, November 2023

FTC Amends Safeguards Rule to Require Non-Banking Financial Institutions to Report Data Security Breaches - “Amendment will require non-bank financial institutions to report when they discover that information affecting...more

Perkins Coie

Cannabis Legal Report - January 2023

Perkins Coie on

New York City Attempts to Crack Down on Illicit Cannabis Market - During a council hearing on Jan. 18, 2023, New York City lawmakers and law enforcement officials discussed the need for tackling the city’s illicit cannabis...more

McDermott Will & Schulte

A Month of Climate Change Activity Ends with Publication of New York's First-in-the-Country Climate Change Risk Regulatory...

When we published our last climate change update earlier this month, it was probably a safe bet that the last few weeks of the month would continue to be active. That was an understatement. Before summarizing the New York...more

Farrell Fritz, P.C.

Forget Congress: The IRS Needs To Reverse Course On The Deduction Of Business Expenses Paid With PPP Loan Proceeds

Farrell Fritz, P.C. on

Round Two- “Painful social lockdowns in Europe and some American states helped blunt the coronavirus. Now, amid a fitful reopening, the pandemic is once again surging.” So begins an article on the front page of last...more

Adler Pollock & Sheehan P.C.

[Webinar] The Municipal Liquidity Facility – Lending Lifeline or Last Resort in the Age of COVID-19? - June 30th, 10:00 am - 11:00...

This webinar will discuss the Municipal Liquidity Facility (the “MLF”), the Federal Reserve’s emergency lending program for state and local governments experiencing cash-flow and other financial pressures due to the COVID-19...more

Partridge Snow & Hahn LLP

Federal Reserve Board Expands Municipal Liquidity Facility Eligibility

The Federal Reserve Board has expanded the number and type of governmental entities eligible to utilize the Municipal Liquidity Facility (MLF) that was established to help state and local governments manage cash flow...more

Butler Snow LLP

Municipal Liquidity Facility - Application Materials and Updated Term Sheet

Butler Snow LLP on

On May 18, 2020, the Federal Reserve Bank of New York (the “Reserve Bank”) released application materials for the Municipal Liquidity Facility (the “Facility”) established in connection with the Coronavirus Aid, Relief, and...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2020

President Signs New COVID-19 Relief Bill into Law, Funding Additional PPP Loans - The Paycheck Protection Program and Health Care Enhancement Act was signed into law by President Donald Trump on April 24, providing $484...more

Proskauer - New Media & Technology

Electronic Signatures Becoming the Norm during COVID-19 Outbreak

The COVID-19 pandemic has fundamentally altered the way we live and conduct business. Most non-essential businesses have closed their offices and established entirely remote workforces, and many individuals may be in...more

Goodwin

Financial Services Weekly Roundup: Priming The Pump – Additional Actions To Combat COVID-19

Goodwin on

Priming the Pump. As the COVID-19 outbreak continues, the Board of Governors of the Federal Reserve System (Federal Reserve), consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), took additional...more

Jackson Walker

CARES Act Update – Federal Reserve and U.S. Treasury Establish Municipal Liquidity Facility to Provide Financial Assistance to...

Jackson Walker on

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides emergency economic stimulus to small businesses and certain eligible recipients in response to the economic distress caused by the COVID-19 pandemic. The...more

Akin Gump Strauss Hauer & Feld LLP

COVID-19 Policy Update #13

Congress Fails to Reach Agreement on Additional Dollars for Small Business and Hospitals; Agencies Act to Provide CARES Act Funding to Key Sectors - Congressional negotiators failed to reach agreement yesterday on adding...more

Chambliss, Bahner & Stophel, P.C.

CARES Relief for State and Local Governments

The CARES Act establishes a $500 billion loan program accessible by cities, states, and businesses, while also providing for more than $250 billion in direct funding to state and local governments. The majority of the direct...more

ArentFox Schiff

IRS Clarifies Interaction of Payroll Tax Deferral with PPP Loan Forgiveness Under CARES Act

ArentFox Schiff on

On April 10, the Internal Revenue Service published responses to frequently asked questions with respect to the payroll tax deferral provisions of the CARES Act, including clarification that employers that take loans under...more

Snell & Wilmer

CARES Act Appropriates $100 Billion for Healthcare Providers

Snell & Wilmer on

With the passage of the CARES Act, $100 billion has been appropriated to the Public Health and Social Services Emergency Fund (“PHSSEF”), to be administered by a small agency within the Department of Health and Human Services...more

ArentFox Schiff

Summary of Municipal Liquidity Facility

ArentFox Schiff on

The CARES Act authorized the Secretary of the Treasury to make up to $500 billion in loans, loan guarantees, and other investments for eligible businesses, States, and municipalities. The term sheet released by the Federal...more

Troutman Pepper Locke

Help for State and Local Governments: New Municipal Liquidity Facility Established to Buy Short-Term Debt

Troutman Pepper Locke on

On April 9, 2020, the Federal Reserve took additional actions to provide up to $2.3 trillion of loans to support the economy. Among the actions taken, the Fed announced the creation of a new Municipal Liquidity Facility (the...more

Holland & Knight LLP

The RESPONSE: Federal and State Actions Affecting the Financial Services Industry - Edition 4

Holland & Knight LLP on

Like our clients, Holland & Knight's Financial Services Industry Group is committed to actively contributing to our nation's response to the coronavirus (COVID-19) pandemic and related economic fallout and recovery efforts. ...more

Seyfarth Shaw LLP

The Week in Weed: December 2019

Seyfarth Shaw LLP on

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. New Jersey is talking about decriminalizing marijuana. Regular readers will doubtless recall that legalization...more

Robins Kaplan LLP

Financial Daily Dose 9.19.2019 | Top Story: Fed Cuts Rates Another Quarter percent

Robins Kaplan LLP on

As pretty much expected, the Federal Reserve cut interest rates a quarter point again yesterday, its second cut since late July. Fed Chair Powell also indicated in remarks after the FOMC broke that a “‘more extensive’ series...more

Robins Kaplan LLP

Financial Daily Dose 9.12.2019 | Top Story: Purdue Pharma Reaches Tentative Comprehensive Opioid Crisis Settlement

Robins Kaplan LLP on

The White House is reportedly nearing a nationwide ban on most flavored e-cigarettes, a direct response to the recent spate of vaping-related illnesses that have affected hundreds across the country....more

Allen Matkins

The IBank May Someday Be California's Bank

Allen Matkins on

Yesterday, I wrote about legislation that would authorize local governments to form their own local or regional public banks. Senator Ben Hueso has a somewhat different idea. He has introduced a bill, SB 528, that would...more

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