James Stevens, co-leader of Troutman Pepper’s Financial Services Industry Group, was quoted in the September 3, 2024 American Banker article, “Where Have All the New Banks Gone?“
Where Have All the New Banks Gone?
Latest from Troutman Pepper Financial Services
FDIC Proposal on Change-in-Control Notices Has Potential Ripple Effects on M&A
Alexandra Barrage, a partner in Troutman Pepper’s Corporate Practice Group, was quoted in the August 29, 2024 S&P Global Market Intelligence article, “FDIC Proposal on Change-in-Control Notices Has Potential Ripple Effects on M&A.”
Episode 559: Hot Takes: The ERAS Tour of Brokered Deposits
Alexandra Barrage, a partner in Troutman Pepper’s Corporate Practice Group, was a guest on the August 26, 2024 Breaking Banks podcast, “Episode 559: Hot Takes: The ERAS Tour of Brokered Deposits.”
Brokered Deposits Rule Threatens to Upend Bank Balance Sheets
Alexandra Barrage, a partner in Troutman Pepper’s Corporate Practice Group, was quoted in the August 23, 2024 Bank Director article, “Brokered Deposits Rule Threatens to Upend Bank Balance Sheets.”
“In the worst case, these [newly designated brokered deposits] will have to get offloaded in a way that potentially puts those banks at even
What Is an Assignment for the Benefit of Creditors and How Does It Differ From a Bankruptcy?
An assignment for the benefit of creditors (ABC) is a state law-based process where a financially distressed company (assignor) transfers its assets to a third-party fiduciary (assignee) for liquidation and distribution to creditors. This process differs significantly from a bankruptcy case, with key distinctions including the lack of court supervision in certain jurisdictions, enforceability of
FDIC’s Brokered Deposit Proposal Expected to Face Industry Pushback
Matthew Bornfreund, a partner in Troutman Pepper’s Corporate Practice Group, was quoted in the August 21, 2024 S&P Global Market Intelligence article, “FDIC’s Brokered Deposit Proposal Expected to Face Industry Pushback.”
Currently, deposit accounts enabling payment transactions are automatically non-brokered, but the new rule will eliminate this designation, meaning parties relying on the
What Are Fraudulent Transfer Claims and What Defenses Exist to Such Claims?
A fraudulent transfer is a wrongful attempt to avoid a debt by improperly transferring assets to a third party or transferring assets for less than fair value while insolvent or leading to insolvency. Each state has its own statute regarding fraudulent transfers, often similar to the Uniform Voidable Transactions Act (UVTA) or the Uniform Fraudulent
Bank Allies Say FDIC Brokered Deposit Plan Reflects Outdated Thinking
Matthew Bornfreund, a partner in Troutman Pepper’s Corporate Practice Group, was quoted in the August 7, 2024 American Banker article, “Bank Allies Say FDIC Brokered Deposit Plan Reflects Outdated Thinking.”
Matthew Bornfreund of Troutman Pepper says such “hot money” – as it was later dubbed – was viewed by skeptics as one of
Legal and Regulatory Compliance Insights: Focus on BAAS
Later today, Troutman Pepper Partner James Stevens is presenting “Legal and Regulatory Compliance Insights: Focus on BAAS” to 10 founders from the Fintech South Innovation Challenge, the lead-up accelerator to Fintech South, and mentors assigned to those founders. The presentation is being held at the Advanced Technology Development Center at Georgia Tech. James
Regulators Prowl for Financial Firms That Wield NDAs to ‘Muzzle’ Whistleblowers
Chris Willis, Co-Leader of Troutman Pepper’s Consumer Financial Services Practice Group, was quoted in the August 6, 2024 Corporate Counsel article, “Regulators Prowl for Financial Firms That Wield NDAs to ‘Muzzle’ Whistleblowers.”