On May 20, the Federal Reserve Board issued a proposal (following a December 2025 Request for Information) to create a new, special-purpose “payment account” that eligible financial institutions could use solely to clear and settle payments. At the same time, the Board signaled that Federal Reserve Banks should temporarily pause decisions on certain master account applications from higher-risk institutions while this policy work proceeds.
ATLANTA – Troutman Pepper Locke represented Repay Holdings Corporation (REPAY), a leading provider of integrated payment processing solutions, in a definitive agreement to acquire Kubra Data Transfer Ltd. (KUBRA) for approximately $372 million. The acquisition will be financed with a combination of cash on hand and debt financing. For more information, see the press release.
The U.S. credit card industry is staring down a two-pronged policy challenge.
On one front, the Credit Card Competition Act (CCCA) is intended to foster increased competition in credit card merchant transaction routing so as to engender downward pressure on network interchange fees. On the other, a push to cap credit card Annual Percentage Rates
In 2025, the U.S. digital asset landscape evolved more dramatically than in any year since the industry’s inception. A pro‑innovation White House, an active Congress, and key regulators — including the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the Office of the Comptroller of the Currency (OCC), the Department of
James Stevens, co-leader of Troutman Pepper Locke’s Financial Services Industry Group, was quoted in the February 3, 2026 Payments Dive article, “Why Some Payments Companies Want To Be Banks.”
On December 16, the Federal Reserve Board issued a Request for Information on a new special‑purpose “Payment Account” prototype, which is essentially a stripped‑down Federal Reserve Bank account designed for institutions focused on payments innovation. The goal with this specialized or “skinny” access is to give legally eligible, payments‑centric institutions a more predictable and lower‑risk path to access key Federal Reserve payment services, without changing who is legally eligible for Federal Reserve master accounts.
Register Here
November 12 – 14, 2025
Members of Troutman Pepper Locke’s Financial Services Industry Group are set to speak at the upcoming Third Party Payment Processor’s Annual Conference, “Solving the Payment Puzzle.” This event offers attendees valuable insights into the latest developments in payments and compliance.
When a tenant in a shopping center files for bankruptcy, Section 365(b)(3) of the Bankruptcy Code provides special protections for landlords that go beyond those available for other commercial leases. These protections require any potential assignee of a shopping center lease to comply with exclusivity and use provisions, maintain the existing tenant mix, and meet financial standards similar to the original tenant. As a result, landlords can block assignments to undesirable tenants, but buyers must carefully review lease terms and co-tenant agreements before bidding on a debtor’s lease.
When a commercial tenant files for bankruptcy, landlords encounter a complex set of legal and financial challenges. The bankruptcy process can affect everything from the payment of rent to the treatment of security deposits and letters of credit. Understanding these implications is essential for landlords seeking to protect their interests and maintain stability in their property portfolios.
Understanding Tenant Rights During Landlord Bankruptcy
When a landlord files for Chapter 11 bankruptcy, commercial tenants may be concerned about the future of their lease and their rights in the bankruptcy process. The Bankruptcy Code gives debtor landlords significant powers, such as the ability to reject, assume, or assign leases. However, tenants are also afforded special protections to help maintain stability and predictability. Knowing these rights is essential for tenants who want to protect their business operations and the value of their lease.