On January 29, the Office of the Comptroller of the Currency (OCC) issued a notice of proposed rulemaking regarding its review of business combinations under the Bank Merger Act (BMA). Specifically, the OCC proposed: (i) amendments to 12 C.F.R. § 5.33 to remove provisions related to expedited review and the use of streamlined business combination
In the absence of comprehensive federal action, states and regulators are enacting legislation and issuing guidance requiring climate-related disclosures, stepping in to fill the void left by the U.S. Securities Exchange Commission’s (SEC) delay on a climate risk disclosure rule.
In November 2022, the Financial Industry Regulatory Authority (FINRA) launched a targeted crypto asset sweep, reviewing more than 500 retail communications related to crypto assets from member firms.
In the rapidly changing world of financial services, payment processors, money transmitters, and other fintech businesses are grappling with an increase in regulatory scrutiny and consumer expectations. Troutman Pepper’s dedicated Payments team is actively engaged in addressing these challenges, providing legal support to clients throughout their business cycles.
We are pleased to announce that Troutman Pepper attorneys Jason Cover, Mark Furletti, and Caleb Rosenberg will moderate a panel at the Online Lenders Alliance’s (OLA) Legal Issues Conference, taking place February 13-14 in Arlington, Virginia.
James Stevens and Keith Barnett were quoted in the January 25, 2024 Payments Dive article, “Rivals May Chase Fiserv Special Bank Charter Lead.”
The Absolute Priority Rule, as outlined in Section 1129(b)(2) of the Bankruptcy Code, plays a crucial role in Chapter 11 bankruptcy cases. It stipulates that claims of a higher priority must be paid in full before lower priority claims can receive any recovery. This rule also requires that all creditors must be paid in full
In this episode of The Consumer Finance Podcast, host, Chris Willis, is joined by Partners Kim Phan and Lori Sommerfield, to discuss recent developments related to website accessibility under the Americans with Disabilities Act (ADA). In this episode, they explore the Department of Justice’s proposed rule under Title II of the ADA, which seeks to
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
Partner James Stevens, a co-leader of Troutman Pepper’s Financial Services Group, was quoted in the January 22, 2024 Banking Dive article, “BaaS to Require Strong Commitment, Investment in 2024, Experts Say.”