James Stevens, co-leader of Troutman Pepper Locke’s Financial Services Industry Group, was quoted in the April 11, 2025 The Financial Brand article, “They’re Back: Fintech Banking Is Suddenly Advancing on Multiple Fronts.”
As written, “it’s a very limited charter,” explains James Stevens, partner and co-leader of the financial services group of Troutman Pepper
James Stevens, co-leader of Troutman Pepper Locke’s Financial Services Industry Group, was quoted in the April 10, 2025 S&P Global Market Intelligence article, “Speedier US Bank Deal Closings Forthcoming as Regulators Give Faster Sign-offs.”
On April 8, the Office of the Comptroller of the Currency (OCC) officially notified Congress of a significant information security incident involving its email system. This notification, mandated by the Federal Information Security Modernization Act, follows the discovery of unauthorized access to OCC emails and attachments that included highly sensitive information related to the financial condition of federally regulated financial institutions.
James Stevens, co-leader of Troutman Pepper Locke’s Financial Services Industry Group, was quoted in the April 7, 2025 Payments Dive article, “Stripe Seeks Georgia Special Banking Charter.”
On March 17, the Office of the Comptroller of the Currency (OCC) announced that it has granted conditional approval for SmartBiz Loans to transform the business model of CenTrust Bank, N.A., located in Northbrook, Illinois. This approval follows SmartBiz Loans’ acquisition of CenTrust Bank, N.A., which has since been renamed SmartBiz Bank, N.A. The approval allows SmartBiz Bank, N.A. to expand its small business lending activities on a nationwide scale.
On March 7, the Office of the Comptroller of the Currency (OCC) issued a significant update regarding the involvement of national banks and federal savings associations in cryptocurrency activities. Interpretive Letter 1183 reaffirms the permissibility of various crypto-asset activities and aims to streamline the regulatory process for banks engaging in these activities.
Troutman Pepper Locke advised Performance Trust Capital Partners, LLC in the successful completion of Chesapeake Financial Shares, Inc.’s private placement of $25 million in fixed-to-floating rate subordinated notes. The offering, which was significantly oversubscribed due to robust investor demand, will provide Chesapeake Financial Shares, Inc. with the capital needed to pursue growth opportunities and strengthen its balance sheet. For more information, read the press release.
James Stevens, co-leader of Troutman Pepper Locke’s Financial Services Industry Group, was quoted in the March 5, 2025 Banking Dive article, “FDIC Withdraws Merger Policy, Brokered Deposits Proposal.”
On January 16, U.S. Representative Andy Barr (R-KY) introduced H.R. 478, the “Promoting New Bank Formation Act,” which was referred to the Committee on Financial Services. This bill aims to support the establishment and growth of new financial institutions, particularly in rural areas, by easing regulatory requirements.
James Stevens, co-leader of Troutman Pepper Locke’s Financial Services Industry Group, was quoted in the January 31, 2025 Banking Dive article, “Banking Sector Girds for M&A Uptick in 2025.”