On June 1, The Board of Governors of the Federal Reserve System (Board of Governors) and the California Department of Financial Protection and Innovation (CA DFPI) announced a mutual consent order with Silvergate Capital Corporation, a former leader in crypto lending, providing for the winding down of its operations.
Under the terms of the consent
Troutman Pepper client Payroc WorldAccess, LLC, (Payroc), a global payments leader, recently announced the acquisition of Atlantic Merchant Services, LLC, (Atlantic Merchant), a full-service merchant processing company based in Raleigh, North Carolina by one of Payroc’s subsidiaries. Payroc is backed by private equity firm Parthenon Capital who assisted Payroc in completing this acquisition. Read a company press release about the transaction.
NEW YORK – Troutman Pepper advised in more than 25 capital markets transactions in Q1 2023 with overall deal value topping $5 billion. Transactions spanned across the United States with a notable concentration in Canadian cross-border deals.
James Stevens, co-leader of Troutman Pepper’s Financial Services Industry Group, was quoted in the April 13, 2023 S&P Global Market Intelligence article, “Bank Collapses Leave Billions in Crypto Deposits Homeless with Few Spots to Land.”