At a Brookings Institution event on June 20, Assistant Attorney General Jonathan Kanter, a top antitrust official for the U.S. Justice Department (DOJ or Department), announced that the Department will reassess its approach to bank merger enforcement given current market realities. Specifically, the Department will assess whether the factual and economic assumptions underlying its 1995
Editor’s Note: Montana became the latest state to pass a comprehensive privacy bill, joining California, Virginia, Colorado, Connecticut, Utah, and Tennessee. Florida, too, passed a privacy bill, but with a much narrower scope. Meanwhile, at the federal level, the House Energy and Commerce Committee continued to work on the federal analog: the American Data Privacy and
Editor’s Note: Montana became the latest state to pass a comprehensive privacy bill, joining California, Virginia, Colorado, Connecticut, Utah, and Tennessee. Florida, too, passed a privacy bill, but with a much narrower scope. Meanwhile, at the federal level, the House Energy and Commerce Committee continued to work on the federal analog: the American Data Privacy and
On June 14, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations and temporary regulations on tax credit transfers pursuant to Section 6418 of the Internal Revenue Code of 1986, as amended (Code), which was enacted by the Inflation Reduction Act. Section 6418 allows eligible taxpayers to elect to transfer
On June 14, the Office of the Comptroller of the Currency (OCC) published the spring edition of its Semiannual Risk Perspective, which discusses key issues facing banks. The good news is that the federal banking system saw historic growth in net interest income in 2022. However, rising interest rates weigh on other aspects of
Please join Troutman Pepper Partners Chris Willis and James Stevens for a very special announcement about two new great tools for the financial services industry: The Troutman Pepper Financial Services blog and the Troutman Pepper Financial Services app. The blog will provide analysis and commentary on financial services law, regulation, and business, spanning across all
A contentious divide in the leadership of Republic First Bancorp, Inc. (Republic First) has now resulted in a third lawsuit against the company, this one filed by shareholders. Early last year, Republic First’s eight-person board of directors was evenly split into two camps: one led by former Republic First CEO, Vernon Hill, II, and another
The New York Stock Exchange (NYSE) and Nasdaq amended their previously proposed clawback listing standards on June 5 and June 6 respectively to give listed companies until December 1 to adopt required clawback policies. On June 9, the Securities and Exchange Commission (SEC) approved the NYSE and Nasdaq– amended clawback listing standards.
The New York Stock Exchange (NYSE) and Nasdaq amended their previously proposed clawback listing standards on June 5 and June 6 respectively to give listed companies until December 1 to adopt required clawback policies. On June 9, the Securities and Exchange Commission (SEC) approved the NYSE and Nasdaq– amended clawback listing standards.
Hosted by attorneys Keith Barnett, Carlin McCrory, and Josh McBeain, Troutman Pepper’s latest podcast, Payments Pros, offers insights from attorneys, business leaders, and regulatory experts on the most challenging legal and regulatory concerns confronted by participants in the payments industry.