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|Regulatory Review of In-Market Mergers|
Robert L. Carothers; Jones Walker LLP;
August 20, 2015, previously published on August 20, 2015 We have recently seen an increase in the number of conversations taking place between community banks located in the same market regarding whether it makes sense to pursue a merger. These conversations are being driven by various factors, including increasing compliance costs, lack of management...
|Supreme Court Takes on Housing Discrimination|
Christopher A. Roach; Adams and Reese LLP;
August 20, 2015, previously published on August 17, 2015The U.S. Supreme Court recently ruled that certain actions that adversely affect minorities in poor neighborhoods violate the Fair Housing Act (FHA), even if there is no proof that discrimination was intentional. In a 5-4 decision, the Court formally recognized the availability of “disparate...
|CMBS Loans: Borrower (and Bondholder) Beware|
Adam H. Friedman; Olshan Frome Wolosky LLP;
August 18, 2015, previously published on August 2015As discussed in our prior Client Alert, the CMBS loan structure is rife with complexity and potential for abuse. Generally speaking, upon default or imminent default, the Controlling Class of bondholders (or the Directing Certificate Holder), can appoint a Special Servicer to administer the...
|Pentagon Adopts Amendments of Military Lending Regulations|
Eric J. Dyas; Jones Walker LLP;
August 11, 2015, previously published on August 6, 2015Concluding a process initiated by the Pentagon in 2012, on July 22, the Department of Defense ("DOD") published in the Federal Register amendments to its regulations implementing the Military Lending Act ("MLA"). Background information concerning the adoption of these amendments...
|Texas District Court Affirms Bankruptcy Court’s Use of Claim Estimation Process|
Bryan Mann Kotliar; Jones Day;
August 6, 2015, previously published on July/August 2015Many companies that file for bankruptcy protection have liabilities that cannot be definitively quantified as of the bankruptcy petition date. Such “unmatured,” “contingent,” “unliquidated,” or “disputed” debts could arise from, among other things:...
|Financial Stability Board Delays Designation of Asset Managers as SIFIs|
Sutherland Asbill Brennan LLP;
August 6, 2015, previously published on August 5, 2015On July 30, the Financial Stability Board (FSB) announced its decision to delay finalizing assessment methodologies for non-bank non-insurer global systemically important financial institutions (“NBNI G-SIFIs”). Once finalized, these methodologies could result in the designation of...
|Next Decade LLC Enlists Financial Advisor|
Sutherland Asbill Brennan LLP;
August 6, 2015, previously published on August 5, 2015Next Decade LLC announced that it has engaged Sumitomo Mitsui Banking Corporation (SMBC) as Financial Advisor and Mandated Lead Arranger for its proposed Rio Grande LNG export terminal in Brownsville, Texas. According to the press release, SMBC, which has extensive experience in financing LNG...
|Rapid Growth in Online Lending Prompts Information Request from U.S. Treasury|
Lisa M. Ledbetter, Ralph F. MacDonald; Jones Day;
August 6, 2015, previously published on July 2015The U.S. Treasury Department (the "Treasury") has issued a Request for Information ("RFI") on online marketplace lending, including peer-to-peer lending ("Online Lending") in the U.S. 80 F.R. 42866-68 (July 20, 2015).
|Continued UDAP/UDAAP Warnings|
Craig N. Landrum; Jones Walker LLP;
August 4, 2015, previously published on July 30, 2015Many banks provide identity theft and credit monitoring products as add-ons to other consumer financial products such as credit cards or deposit accounts. Recent consent orders between the Consumer Financial Protection Bureau ("CFPB") and financial institutions or their third party...
|UCITS - ESMA Developing a Common Understanding on Share Classes|
Kurt Hyzler; CSB Advocates;
August 3, 2015, previously published by http://www.csb-advocates.com/ucits-esma-common-understanding-share-classesOn the 23rd of December 2014 the European Securities and Markets Authority ("ESMA") published a discussion paper on share classes of UCITS Funds with a view to developing a common understanding of what constitutes a share class of a UCITS Fund.