Category: Financial Services
New Cybersecurity Rulemaking Proposed for Banking Industry
On January 12, 2021, financial regulators jointly published a new notice of proposed cybersecurity rulemaking for the banking industry. See […]
The Anti-Money Laundering Act of 2020: New tools to combat financial crimes.
Since 1970, the Bank Secrecy Act has provided financial regulators with tools to combat money laundering and, for the last […]
OCC’s True Lender Rule Challenged in New Lawsuit
FinTech Litigation Update In January, seven states and the District of Columbia filed litigation in the Southern District of New […]
Key Changes to the Paycheck Protection Program
At the end of December 2020, Congress passed a new COVID-19 relief package that included significant changes to the Paycheck […]
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 […]