Banking & Financial Services E-Note - March 28, 2013

In This Issue:

- Global Banking Group Calls for Several Rates to Replace Libor

- U.S. Applies Money-Laundering Rules to "Virtual Currencies"

- SEC Says Big Banks Don't Have to Hold Shareholder Break-Up Votes

- CFPB Proposes More Oversight of Nonbank Student Loan Companies

- Industry Discourages Adding Down Payment Rule to CFPB Measure

- IASB Accounting Rule Will Require Banks to Show Losses Earlier

- Over 4 Years After TARP, Future of Bank Reforms Still Unclear

- Index Shows Uptick in Small Business Loans From Big Banks

- Earnings for Credit Unions Hit Record $8.5 Billion in 2012

- Pave Offers Students Alternative to Traditional Loans

- Excerpt from Global Banking Group Calls for Several Rates to Replace Libor:

The tarnished Libor interest rate benchmark should be replaced with a range ofreference rates based on actual market transactions by banks, a global group of centralbankers said.

Please see full E-Note below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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