• 03.31.20

    New Small Business Administration Paycheck Protection Program Information

    The Treasury Department released additional information today regarding the Paycheck Protection Program that has been authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

  • 03.30.20

    Congressional Action—Lending Programs and Relief Provisions Under the CARES Act

    On March 27, 2020, President Donald Trump signed into law the CARES Act, an approximately $2 trillion stimulus package to mitigate the adverse economic effects of the COVID-19 pandemic.

  • 03.25.20

    Feds, States Offer Guidance on Loan Modifications

    Aiming to encourage financial institutions to accommodate borrowers affected by COVID-19, federal and state regulators issued an interagency statement on loan modifications.

  • 03.19.20

    Financial Institution Regulators Promulgate Extensive Guidance on COVID-19

    While the government currently responds to the changing landscape posed by the COVID-19 virus, federal financial institution regulators are moving quickly to address multiple areas of concern posed by these unprecedented developments.

  • 03.09.20

    The SEC Proposes to Expand Capital-Raising Opportunities for Reg D, Reg A and Crowdfunding Offerings

    On March 4, 2020, the Securities and Exchange Commission (SEC) issued proposed rules to simplify certain aspects of exempt offerings with the goal of expanding access to capital for issuers and increasing opportunities for investors. The proposed rules are set forth in SEC Release No. ...

  • 12.19.18

    California DBO Seeks Help With SB 1235

    The California Department of Business Oversight (DBO) has started the process of developing regulations to implement SB 1235, which imposes new disclosure requirements for commercial financing in the state.

  • 12.19.18

    FDIC Pushes for De Novo Banks

    Undertaking a serious push to encourage de novo banks, the Federal Deposit Insurance Corporation (FDIC) announced multiple initiatives and released new resources in the hopes of attracting new banks.

  • 12.05.18

    FTC Sends Money Transfer Service $125M Penalty, Expanded Order

    An international money transfer service must pay $125 million after it failed to take the steps required in a 2009 consent order it had agreed to with the Federal Trade Commission (FTC) and a 2012 Deferred Prosecution Agreement (DPA) entered into with the Department of Justice (DOJ).

  • 11.07.18

    Latest BSA/AML Penalty: $100M From OCC

    On October 23, 2018, the Office of the Comptroller of the Currency (OCC) assessed a $100 million civil money penalty against a national bank primarily known for its issuance of credit cards, for failing to comply with a 2015 consent order requiring the financial institution to timely remedy ...

  • 10.24.18

    Federal Banking Agencies Encourage BSA/AML Collaboration

    Community banks and smaller financial institutions take note: The five federal banking agencies are encouraging banks and credit unions to enter into collaborative arrangements to share resources to more effectively and efficiently manage their Bank Secrecy Act/anti-money laundering (BSA/AML) ...

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