• 03.10.16

    $6.5M Fine for Persistent BSA/AML Failures

    A $6.5 million civil money penalty imposed against a $1.57 billion Florida bank for persistent anti-money laundering (AML) and Bank Secrecy Act (BSA) deficiencies provided an appropriate back drop for two enforcement-related announcements by the Office of the Comptroller of the Currency (OCC).

  • 03.09.16

    Crowdfunding: Disclosing Both Pros and Cons?

    Crowdfunding has grown tremendously in the past few years, and with the recent finalization by the Securities and Exchange Commission of its rulemaking under a 2012 law, there may be an even greater expansion of investor opportunities.

  • 03.01.16

    Madden Tells SCOTUS That Marketplace Lenders Should Not Worry About Madden

    As the Marketplace Lending (MPL) industry gears up for the upcoming conference trifecta—ABS Vegas, AltFi Europe and LendIt USA 2016, the effect of the Midland Funding, LLC et al. v. Saliha Madden case and its pending appeal before the U.S. Supreme Court is palpable.

  • 02.18.16

    FDIC Dips Its Toes Into Marketplace Lending

    In the Winter 2015 edition of the Federal Deposit Insurance Corporation's (FDIC) Supervisory Insights, the agency provided an overview of the marketplace lending model, "a small but growing component of the financial services industry that some banks are viewing as an opportunity to ...

  • 12.22.15

    Fed Finalizes Capital Planning, Stress Test Requirements for 2017

    Capital planning and stress tests for bank holding companies and other institutions with assets over $10 billion have been finalized by the Federal Reserve Board of Governors.

  • 12.21.15

    Congress Takes the FAST Lane to Important Securities Reforms

    On December 4, 2015, the President signed the Fixing America's Surface Transportation Act, better known as the FAST Act, which had been approved by a bipartisan Congress.

  • 12.10.15

    Purchased Loans From Alternative Lenders Should Be Accorded Same Risk Analysis as Originated Loans

    In a new advisory, the Federal Deposit Insurance Corporation (FDIC) provided a reminder to all covered entities of the importance of underwriting and administering purchased loans and loan participations as if the loans were originated by the purchasing institution.

  • 12.10.15

    Marketplace Lending and San Bernardino

    Reports show that the San Bernardino shooter took out an online marketplace loan a few weeks prior to the attacks.

  • 11.16.15

    Midland Has Appealed to the U.S. Supreme Court

    Madden v. Midland Funding, an important court case for marketplace lending may now be heard at the Supreme Court.

  • 11.12.15

    Auto Loans at the Top of OCC's Supervisory Priority List

    In two recent speeches, Comptroller of the Currency Thomas J. Curry discussed the supervisory priorities of the Office of the Comptroller of the Currency (OCC), including bank operational risks, increased credit exposures and insufficient loan loss reserves.



pursuant to New York DR 2-101(f)

© 2024 Manatt, Phelps & Phillips, LLP.

All rights reserved