On January 1, 2021, Congress passed the Corporate Transparency Act ("CTA"), which set out to bring the United States' reporting requirements for corporations in line with the rest of the world for purposes of combating money laundering […]
A little over two months ago, the federal banking authorities (Feds) issued a new Policy Statement, a re-vamp and expansion of the 2008 “extend and hold” or “pretend and extend” policy that emerged from the 2008 Bank Liquidity […]
About six weeks ago, the federal banking authorities (Feds) issued a new Policy Statement, a re-vamp and expansion of the 2008 “extend and hold” or “pretend and extend” policy that emerged from the 2008 Bank Liquidity Crisis […]
Click here to read Jeff Novel's February recap highlighting several notable developments in banking, fintech and crypto that those working in the financial services industry should know about.
The first month of 2023 is already over. Click here to read Jeff Novel's recap highlighting several notable developments in banking, fintech and crypto that those working in the financial services industry should know about.
The advent of the digital era has not only popularized online transactions but has also led to the development of virtual currencies to expedite business transactions. The Financial Action Task Force, an independent intergovernmental body, defines virtual […]
As revelations regarding the collapse of the FTX Cryptocurrency Exchange come to light, the United States District Court for the District of New Hampshire has issued an opinion that hints at increased regulation of cryptocurrencies through […]
In September, the Department of Justice ("DOJ") announced the "first ever" False Claims Act ("FCA") settlement with a Paycheck Protection Program ("PPP") lender. Under the settlement, a lender agreed to pay $18 […]
What started with Bitcoin in 2009 has developed into a market of over 6,500 digital assets increasingly competing with traditional products offered by financial institutions. The rapid expansion of digital assets, including cryptocurrencies, has led […]
In May 2021, as part of the American Families Plan, the Biden Administration proposed that financial institutions should report consumer and business account activity exceeding $600 annually. Proponents of the legislation claim that it will give the […]
There has been a recent trend in Texas litigation of borrowers asserting claims or counterclaims against their lenders for breach of fiduciary duty. The first thing that a plaintiff has to establish in such a claim is that the lender actually owed it […]
A Lender has two choices for funding a Main Street Loan. A Lender may fund a Main Street Loan and then seek to sell a participation interest in said Main Street Loan to the Main Street SPV. A Lender may condition its extension of credit to […]