Expert Analysis

• Parsing Gov't Scrutiny Of Lending To Unauthorized Workers

  

  Attorneys at Mayer Brown explain guidance recently issued by three banking regulators that addresses risks associated with lending to so-called non-work authorized individuals and discuss what the regulatory update could mean for fintech companies.

• Addressing Merchant Cash Advances In Subchapter V

  

  As regulatory enforcement continues and more small businesses turn to Subchapter V bankruptcy to manage merchant cash advance debt, counsel and trustees can take meaningful steps throughout the bankruptcy process to successfully counteract the potentially nefarious actions of MCAs, say Hannah Hutman at Hoover Penrod and Starria Cuffee at Stretto.

• SEC Rulemaking Radar: The Rubber Meets The Road

  

  The U.S. Securities and Exchange Commission's new rulemaking agenda shows its regulatory reset taking shape, with sweeping crypto proposals that could bring the biggest changes it has made to broker-dealer, exchange and trading compliance in decades, says Christopher Grobbel at Goodwin.

• CFPB Complaint Portal Overhaul Signals Changing Priorities

  

  The Consumer Financial Protection Bureau's updates to its consumer complaint portal and decision to cease publishing consumer complaint narratives should be viewed by companies as one component of a larger recalibration of how the CFPB collects information and allocates its supervisory and enforcement resources, say attorneys at Cooley.

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  Being In A Band Made Me A Better Lawyer

  

  Playing shows in storied New York City venues and rehearsing with my bandmates in poorly ventilated rooms helped develop the professional qualities I rely on as a litigator, including an ability to collaborate with strong-minded equals and the determination to treat each client with singular focus, says Eliad Shapiro at Herrick Feinstein.

• 6 Risk Areas Future Fla. Stablecoin Issuers Should Plan For

  

  Companies hoping to issue stablecoins under Florida’s new supervision regime should prioritize constructing robust risk management architecture across key areas before the Oct. 1 effective date so they can secure licenses, avoid a web of potential liabilities, and operate sustainably as state and federal regulations evolve, says Elizabeth Brusa at Shumaker.

• Mich. Ruling Gives Consumer Protection Law Its Teeth Back

  

  The Michigan Supreme Court's recent decision in Attorney General v. Eli Lilly, overruling key holdings in two earlier cases, means that Michigan businesses can no longer defeat allegations of deceptive conduct under the state's consumer protection law simply by pointing to any governmental regulation of the business, say attorneys at DiCello Levitt.

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  Law School's Missed Lessons: Surviving A Long Trial

  

  Most of law school trial advocacy is geared toward the sprint of trying a short case, but beyond managing a cross-examination or closing argument, effectively handling the marathon of a lengthy trial requires the ability to maintain composure, organization and credibility with the jury, says Mihir Elchuri at Hirschler.

• What B. Riley Dismissal Teaches About Governance Litigation

  

  The same facts in litigation against B. Riley Financial produced three different outcomes in three courthouses, but the Court of Chancery's decision in Marchner v. B. Riley is the cleanest demonstration in years of why boards facing a government investigation often prepare for the wrong lawsuit, says Ashwin Ram at Buchalter.

• Upping Fed, FDIC's Insider Loan Cap May Ease Bank Burdens

  

  Coordinated Federal Deposit Insurance Corp. and Federal Reserve proposals to raise the 1970s-era cap for bank executives borrowing from their institutions represent a long-needed regulatory recalibration that would lighten compliance obligations caused by the outdated ceiling without diminishing the original protections against conflicts of interest, say attorneys at Ballard Spahr.

• How 2 SEC Financial Report Initiatives May Clash In Practice

  

  The Securities and Exchange Commission’s near-simultaneous launch of a new unit to investigate fraud by accounting and audit professionals and its proposal to let public companies file less frequent financial reports sets up possible conflicts for issuers and their financial reporters that demand immediate strategic attention, say attorneys at Bracewell.

• Recent OCC Charter Approvals Signal Fintech Momentum

  

  The Office of the Comptroller of the Currency's recent charter approval for Circle, along with faster Federal Deposit Insurance Corp. review procedures, signals a more workable path to national bank and trust charters, meaning fintech firms should prepare regulator-ready applications and plan for intensified competition, say attorneys at Davis Wright.

• Bank Charter Denial Offers Road Map For Stablecoin Issuers

  

  The Office of the Comptroller of the Currency's recent denial of Wise's bank charter application signals that stablecoin issuers should expect rigorous scrutiny of anti-money laundering controls, governance, management expertise and affiliate compliance history when applying for federal approval, say attorneys at Katten.

• Complying With Calif. Crypto License Law's 11th-Hour Rewrite

  

  Financial businesses that applied early for the digital asset license now required in California should check their filings and compliance decisions against last-minute updates to the law and its rules, as overlooked changes could leave companies budgeting for nonexistent bonds, relying on an outdated exemption or racking up steep fines, say attorneys at Astraea Counsel.

• Decoding Arbitral Disputes: Award Enforcement Is Just Step 1

  

  In Qatar National Bank v. South Sudan and Bank of South Sudan, a D.C. federal court recently confirmed a $1 billion arbitral award, but the judgment itself remains only the entrance to the asset-recovery exercise, says Josep Galvez at 4-5 Gray's Inn Square.