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Category: Financial Services

How to Regulate the Unregulated? —Industrial Banks, FinTechs, and FDIC’s New Final Rule

The Federal Deposit Insurance Corporation recently released a final rule with respect to parent companies that own or control industrial […]

Banking-as-a-Service and How Traditional Banks are Adapting

Banks have always adapted to emerging technologies and market behavior. Consider the changes to bank products, services, and pricing over […]

SEC Amendments to Private Offering Framework

Publicly traded companies raise capital by selling their securities on national exchanges. The public offerings are registered with the Securities […]

Madden Class Action Update: Financial Institutions Win at Trial Level; Madden Distinguished

A district court in the Eastern District of New York recently dismissed a class action against bank-related defendants relating to […]

PPP Loan Enforcement Begins With SBA Issuing a Borrower Questionnaire

The Small Business Administration will soon require borrowers who received Paycheck Protection Program loans greater than $2 million to complete […]

All That Glitters Is Not Gold: A Look at The First Federal Securities PPP-Related Class Action

The CARES Act’s Paycheck Protection Program, while a commendable and necessary initiative, was certain to invite lawsuits against banks. It […]

Avoiding FCPA Trouble – Hints from the DOJ’s Advisory Opinion

If you conduct business internationally, pay attention. A recent Department of Justice advisory opinion offers guidance in complying with the […]

Litigation Issues for Lenders Related to PPP Loans: False Claims Act

Our firm has been at the forefront of the Payroll Protection Program “agent fee” litigation—advising and defending banks in purported […]

Seven States and the District of Columbia Sue to Overturn FDIC’s New “Valid When Made” Rule

In yet another challenge to the current administration’s efforts to abolish the “Madden Rule,” on August 20, 2020, seven states […]

A Brief Look At Lender Liability Litigation: Awareness & Risk Mitigation

What is “lender liability” and when do risks arise? These questions—while quite elemental—naturally occur to professionals at the outset of […]