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Lenders › Financial Crimes

Baker Donelson

Thompson v. United States: A Reminder That Statutory Language is Critical in Criminal Cases

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On March 21, 2025, a unanimous Supreme Court overturned a false statement conviction under 18 U.S.C. § 1014 holding that the statute requires false, and not merely misleading, statements to certain federal agencies including...more

Ankura

Fraud and Corruption in Covid Bounce Back Loans - A Perspective for Lenders

Ankura on

Under the government Bounce Back Loan Scheme (BBLS), small businesses struggling due to the pandemic could obtain a fully government-secured loan of up to £50,000 with no repayments required for the first 12 months....more

Offit Kurman

Lenders Must Act Fast to Recover Funds in Fraudulent Loan Schemes

Offit Kurman on

Lenders get into a groove with originating loans with existing and new borrowers. So often, the closing comes and goes, and the monthly payments commence without any trouble. But then a borrower comes along who seeks to...more

Troutman Pepper Locke

New York Attorney General Settles $1 Billion Lawsuit Against Yellowstone Capital Over High-Interest Loans

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On January 22, New York Attorney General Letitia James announced a significant settlement with Yellowstone Capital of New Jersey and its affiliated companies over allegations of illegal high-interest loans disguised as...more

Husch Blackwell LLP

PPP Loan Audits Could Affect Millions of Borrowers

Husch Blackwell LLP on

In March 2020 during the height of the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law establishing, among other things, the Payment Protection Program (PPP) administered...more

Ballard Spahr LLP

FinCEN Expands CTA FAQs

Ballard Spahr LLP on

On November 16, the Financial Crimes Enforcement Network (“FinCEN”) issued – again –expanded FAQs pertaining to beneficial ownership information (“BOI”) reportable under the Corporate Transparency Act (“CTA”).  These expanded...more

Harris Beach Murtha PLLC

Lenders: The Corporate Transparency Act is Headed Your Way in January 2024

Harris Beach Murtha PLLC on

The Corporate Transparency Act (CTA), which was passed by Congress in 2021 and is administered by the Financial Crimes Enforcement Network (FinCEN) at the U.S. Department of the Treasury, will become effective on January 1,...more

Orrick, Herrington & Sutcliffe LLP

Supreme Court False Claims Act Ruling May Affect Paycheck Protection Program Lenders

Orrick, Herrington & Sutcliffe LLP on

On June 1, the Supreme Court ruled that entities that submit false claims to the government can be liable if they subjectively believed the claims were false at the time of submission. ...more

Bradley Arant Boult Cummings LLP

Fraud & Financial Crimes: The Increase of Identification Fraud During the COVID-19 Pandemic

Bradley Arant Boult Cummings LLP on

As a result of the COVID-19 pandemic, businesses experienced a rapid and significant increase in the use of digital technology. Bearing in mind health concerns, as well as business continuity, many businesses began to shift...more

K2 Integrity

PPP Lending—A Unique Compliance Challenge for Banks

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A commitment to PPP compliance now will not only align with regulator expectations, but can help guide innovation and the introduction of new products in the long run. ...more

Hogan Lovells

UK FCA publishes annual Sector Views report

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The UK Financial Conduct Authority (FCA) has published Sector Views, its annual report examining how each financial sector is performing....more

A&O Shearman

Key Regulatory Topics: Weekly Update - 9 February 2018 - 15 February 2018

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Insurance Europe publishes papers on avoiding Brexit cliff-edge risks - On 9 February, Insurance Europe published a paper calling for an agreement between the UK and the EU on the transitional arrangements that should...more

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