Finance & Banking, Election & Politics Law, Commercial Law & Contracts

House to hold hearing on CFPB ability to repay/QM rule

by Barbara S. Mishkin | Ballard Spahr LLP on 5/20/2013

The House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit has scheduled a hearing for tomorrow, May 21, on “Qualified Mortgages: Examining the Impact of the Ability to Repay Rule.”...more

Trade group charges CFPB’s closing of Consumer Advisory Board meeting to public violates federal law

by Barbara S. Mishkin | Ballard Spahr LLP on 5/16/2013

A letter sent today to the CFPB by an attorney for the Community Financial Services Association of America (CFSA), a national trade organization for payday lenders, asserts that the CFPB violated the Federal Advisory...more

CFPB Targets Auto Financing For Enforcement

by Michael Volkov on 5/14/2013

The Consumer Finance Protection Bureau continues to spread its wings in the enforcement arena. It is an agency born and confined in political controversy. ...more

Greenberger: Derivatives Legislation Would Seriously Weaken Dodd-Frank [Video]

by Bloomberg Law on 5/10/2013

May 10 (Bloomberg Law) -- Michael Greenberger, a professor at the University of Maryland School of Law, tells Bloomberg Law's Lee Pacchia that a new set of legislation making its way through the House of Representatives could...more

Bill Proposes Significant Changes To Finance Lenders Law

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 4/24/2013

If you are in the business of making loans in California, there’s a good chance that you need a license. Some lenders are licensed under the Real Estate Law while others are licensed under laws governing banks, credit unions...more

State Banking Regulators Support Federal Online Payday Lending Bill

by BuckleySandler LLP on 4/22/2013

On April 10, the CSBS sent a letter to Senator Jeff Merkley (D-OR) and Representative Suzanne Bonamici (D-OR) – the chief sponsors in their respective chambers of Congress of legislation related to online payday lending – to...more

Wall Street Sales Tax Reintroduced on Capitol Hill: Likely a Significant Impact on Private Investment Funds

by David Sussman | Duane Morris LLP on 4/19/2013

On April 17, 2013, U.S. Rep. Keith Ellison (D-Minn.) reintroduced the Inclusive Prosperity Act of 2013 (H.R. 1579) (the "Bill"), a financial transaction tax that, according to its supporters, would provide the federal...more

Illinois House Considers Bill to Allow “Bonding Off” of Mechanics Liens

by Timothy Patenode, Jennifer Ryan | Katten Muchin Rosenman LLP on 4/12/2013

Lenders in Illinois might want to take note of pending Illinois House Bill 2804. The bill would amend the Mechanics Lien Act, so as to allow “bonding off” of mechanic liens for the first time in Illinois. Nearly every state...more

The Canadian Federal Budget and Financial Institutions

by Kashif Zaman | Osler, Hoskin & Harcourt LLP on 4/10/2013

The recently published federal budget (titled “Canada’s Economic Action Plan 2013”) included high level guidance regarding the Government’s priorities for the regulation of financial institutions, services and markets. The...more

Democratic Lawmakers Push Regulators For Independent Foreclosure Review Details

by BuckleySandler LLP on 4/3/2013

On March 25, Senator Elizabeth Warren (D-MA) and Representative Elijah Cummings (D-MD) sent a letter to Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry challenging the regulators’ response...more

Government Relations Alert: Adjusting For A Reduced Shortfall, Governor Dayton's Revised Budget Excludes Sales Tax Overhaul

by Leonard, Street and Deinard on 3/15/2013

Governor Dayton yesterday unveiled his revised budget for fiscal years 2014-2015. With Minnesota Management & Budget (MMB) recently projecting the FY 2014-15 shortfall at $627 million, down from last November's estimate of...more

Governor Dayton Drops Business to Business Sales Tax Proposal

by John Knapp | Winthrop & Weinstine, P.A. on 3/11/2013

With Governor Dayton scheduled to release his supplemental budget proposal next week, he announced today at a meeting of the Twin West Chamber of Commerce that he will drop the proposed expansion of the state sales tax to...more

If You're Not At the Table, You're On the Menu: Ways and Means Working Groups Solicit Input on Tax Reform

by Mary Burke Baker, Michael W. Evans, Andrés Gil, Karishma Shah Page, Ryan J. Severson | K&L Gates LLP on 3/8/2013

Comprehensive tax reform is the top priority of the congressional tax-writing committees this year. In continuation of several years of work on this issue, the House Ways and Means Committee recently unveiled the next stage...more

Treasury Releases Message on Impact of Sequestration on 1603 Cash Grants

by John A. Eliason | Foley & Lardner LLP on 3/5/2013

On March 4, 2013, U.S. Treasury released guidance on the impact of the across-the-board spending cuts known as “sequestration” to the Section 1603 cash grant program. As stated in the message, payments under Section...more

Negotiations for New International Services Trade Agreement Offer Business Opportunities

by Nathaniel Bolin, Jeffrey Gerrish, James Hecht, Robert Lighthizer | Skadden, Arps, Slate, Meagher & Flom LLP on 2/4/2013

The Obama Administration has recently announced its intention to begin negotiating a new agreement aimed at promoting international trade in services. These negotiations, which have received strong backing from both the...more

Washington Insight: Corporate Lobbyist's Toolkit - January 2013

by King & Spalding on 2/4/2013

In This Issue: - Making Decisions on Corporate Campaign Expenditures - What’s in Store in Congresson Campaign Finance Reform? - DC Circuit Reversed Van Hollen. Players Changed Tactics to Avoid Disclosure. ...more

Making Decisions on Corporate Campaign Expenditures by Thomas J. Spulak

by King & Spalding on 1/30/2013

The Nation has just witnessed one of the most expensive election campaigns - with over $6 billion spent by candidates, political parties and committees. Whether all of that money made a difference remains to be seen. One...more

"SEC Considering Disclosure of Political Activity Spending"

by Brian V. Breheny, Kenneth Gross, Ki Hong, Samuel Scrimshaw | Skadden, Arps, Slate, Meagher & Flom LLP on 1/24/2013

On December 21, 2012, the U.S. Securities and Exchange Commission (SEC) indicated in its semiannual regulatory agenda that the staff of the SEC’s Division of Corporation Finance is considering whether to recommend that the...more

Risky Business: Protecting Indian Investments Abroad

by Nandan Nelivigi | White & Case LLP on 1/20/2013

GMR’s ouster from the US$511 million airport modernization project in Maldives has refocused the spotlight on political risks facing foreign investments. As the GMR-Maldives story unfolds, this is a good time for Indian...more

The Fiscal Cliff Deal - What does it mean for you and your business?

by Butler, Snow, O'Mara, Stevens and Cannada,... on 1/18/2013

In the early morning hours of January 1, 2013, the Senate approved the American Taxpayer Relief Act of 2012 (the “Act”) by a vote of 89-8. Less than 24 hours later, the House of Representatives also approved the Act by a vote...more

The American Taxpayer Relief Act of 2012 and What It Means to You

by Jonathan R. Flora, James Olson | Schnader Harrison Segal & Lewis LLP on 1/11/2013

On Jan. 2, 2013, President Obama signed the “American Taxpayer Relief Act of 2012” (the “Act”) which was passed by the House and Senate the previous day to avoid the so-called “fiscal cliff.” The Act prevents many of the tax...more

Will Congress' Dodd-Frank Mistake Harm Banks? [Video]

by Bloomberg Law on 1/10/2013

Jan. 10 (Bloomberg Law) -- Scott Cammarn, partner at Cadwalader, Wickersham and Taft, talks with Bloomberg Law's Lee Pacchia about a little known provision of Dodd-Frank that could end up costing foreign banks doing business...more

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Finance & Banking › Election & Politics Law › Commercial Law & Contracts

House to hold hearing on CFPB ability to repay/QM rule

Trade group charges CFPB’s closing of Consumer Advisory Board meeting to public violates federal law

CFPB Targets Auto Financing For Enforcement

Greenberger: Derivatives Legislation Would Seriously Weaken Dodd-Frank [Video]

Bill Proposes Significant Changes To Finance Lenders Law

State Banking Regulators Support Federal Online Payday Lending Bill

Wall Street Sales Tax Reintroduced on Capitol Hill: Likely a Significant Impact on Private Investment Funds

Illinois House Considers Bill to Allow “Bonding Off” of Mechanics Liens

The Canadian Federal Budget and Financial Institutions

Democratic Lawmakers Push Regulators For Independent Foreclosure Review Details

Government Relations Alert: Adjusting For A Reduced Shortfall, Governor Dayton's Revised Budget Excludes Sales Tax Overhaul

Governor Dayton Drops Business to Business Sales Tax Proposal

If You're Not At the Table, You're On the Menu: Ways and Means Working Groups Solicit Input on Tax Reform

Treasury Releases Message on Impact of Sequestration on 1603 Cash Grants

Negotiations for New International Services Trade Agreement Offer Business Opportunities

Washington Insight: Corporate Lobbyist's Toolkit - January 2013

Making Decisions on Corporate Campaign Expenditures by Thomas J. Spulak

"SEC Considering Disclosure of Political Activity Spending"

Risky Business: Protecting Indian Investments Abroad

The Fiscal Cliff Deal - What does it mean for you and your business?

The American Taxpayer Relief Act of 2012 and What It Means to You

Will Congress' Dodd-Frank Mistake Harm Banks? [Video]

Mortgage Forgiveness Act Extended

President Signs ATM Disclosure Bill And CFPB Privilege Bill

House Committee on Oversight and Reform: CFPB a Threat to Credit Access

Greenberger: Derivatives Legislation Would Seriously Weaken Dodd-Frank [Video]

Will Congress' Dodd-Frank Mistake Harm Banks? [Video]

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