News & Analysis as of

Up to the challenge: Investing in banks

Despite bleak growth prospects for banks after the global financial crisis, financial sponsors have embraced the opportunities the restructuring of the banking sector has provided, and have proven themselves adept at managing...more

Outlook: What does the future hold?

Historically, financial sponsors approached financial services investments with caution. Since the financial crisis, however, things have changed, creating valuable opportunities for financial sponsors to invest in a sector...more

Fintech: The disruptive force for good

The disruption in the financial services industry caused by technological advances has created fertile ground for financial sponsors who excel at promoting innovation and investing in new, untested...more

A pan-European opportunity

Many commentators consider that the growing trend of financial sponsor investment in financial services is limited to a handful of countries in Europe. Deal data, however, show that investors with an appetite for banks and...more

What's In A Name? The Case Of "On-Demand" Performance Bonds

A bank's attempt to characterise performance bonds as guarantees failed in a further example of the English Court's strict approach to construction of "on-demand" payment obligations. In a decision which provides some...more

FDIC Puts Out Welcome Mat for New Bank Applications

Why it matters - Could new bank applications and de novo bank openings be in the future? To encourage new applications, the Federal Deposit Insurance Corporation (FDIC) has met with state regulators to express interest...more

Litigation Alert: Washington Supreme Court Clears Up Ambiguity on "Holder" versus "Owner" of Secured Notes

The Washington Supreme Court, sitting en banc, affirmed in Brown v. Washington State Department of Commerce the Department of Commerce’s denial of a mediation request under the Foreclosure Fairness Act (FFA) made by a...more

U.S. Chamber of Commerce criticizes NY Times arbitration articles

The U.S. Chamber of Commerce has issued strong criticism of the first two articles on arbitration published in the New York Times this past Sunday and earlier this week. (The articles were part of a series of three reports.)...more

Cross Border Financing Report 2015, UK

Section 1 – Bank licences - 1.1 What licences or approvals do lenders need to have if lending to a borrower in this jurisdiction if a) the lender is a bank or b) the lender is a not a bank? No licences or approvals...more

CFPB Releases Fall 2015 Report Touting Recovery of Millions Through Supervisory Actions

On November 3, the Consumer Financial Protection Bureau (CFPB) released its fall 2015 supervisory report concerning enforcement actions from May 2015 through August 2015. The Bureau highlights violations in the mortgage...more

Cross Border Financing Report 2015, Hong Kong

Section 1 – Bank licences - 1.1 What licences or approvals do lenders need to have if lending to a borrower in this jurisdiction if a) the lender is a bank or b) the lender is not a bank? Under the Money Lenders...more

Commission consults on CRD4 remuneration

The Commission has issued a consultation to help it produce a report on the efficiency of the CRD4 remuneration rules. The Commission is particularly interested in views on the possible impact of the “Maximum Ratio Rule” on...more

Commission publishes CRR AVAs Regulation

The Commission has published a draft Delegated Regulation concerning the making of additional valuation adjustments (AVAs) under the CRR....more

Commission adopts 2016 work programme

The Commission has adopted its 2016 Work Programme, reaffirming the commitment to the 10 political priorities of its political guidelines. The programme plans to deliver 23 key initiatives and 40 actions under its “REFIT”...more

EBA translates BRRD simplified obligations guidelines

EBA has translated the guidelines on simplified obligations under the Bank Recovery and Resolution Directive (BRRD) in the official languages. The guidelines define how EU authorities should assess whether an institution is...more

DOJ Sharpens Focus on Corporate Compliance in Deciding Whether to Prosecute Companies

One of the factors that the U.S. Department of Justice (DOJ) considers in deciding whether to bring charges against a corporation is the existence and effectiveness of the corporation’s pre-existing compliance program. On...more

EBA finalises default study templates

EBA has published the final templates and instructions for its Quantitative Impact Study on the definition of default under the CRR (see FReD 16 October). These should be submitted by participating institutions to their...more

Recent Government Cyber Alert and Draft Guide for Financial Institutions: Lessons for All Organizations

All organizations, including financial institutions, continue to face significant security threats across their wide ranging IT systems. Such organizations are particularly vulnerable if they cannot track networked devices...more

U.S. Department of Education Turns Eye to Regulating Financial Services Industry

On October 27, 2015, the United States Department of Education issued 433 pages of new regulations governing student loan programs under the Student Assistance General Provisions regulations promulgated under the Higher...more

State-Chartered Bank Settles with New York DFS for Alleged Violations of Banking Law

On October 28, the New York DFS resolved an enforcement action with a New York State-charted bank for alleged violations of state banking law. The DFS alleged that the bank hired a former New York Federal Reserve Bank...more

CFPB confirms interest in marketplace lending

Companies involved in marketplace lending will be quite interested in the attendee list for the American Banker’s Marketplace Lending + Investing conference taking place this week in New York City. It indicates that 22...more

Should Africa worry about the potential demise of US EXIM Bank?

There has been no shortage of well-intentioned laments about the expiration of the authorization of US EXIM Bank on June 30, 2015—since then, the Bank's authority to issue new loans ceased and its operations are limited to...more

New York Times article omits critical pro-arbitration facts

An article on consumer arbitration in this week’s Sunday New York Times concludes that “[b]y inserting individual arbitration clauses into a soaring number of consumer and employment contracts, companies… devised a way to...more

CFPB issues third Financial Literacy Annual Report

The CFPB has issued its third Financial Literacy Annual Report to Congress. The report covers the CFPB’s activities to improve consumer financial literacy during the period from June 2014 through September 2015. The report’s...more

CFPB Orders Auto Finance Company to Pay Over Three Million for Alleged Unfair Debt Collection Practices

On October 28, the CFPB filed an administrative order against an Ohio-based auto lender specializing in extending credit to servicemembers. The CFPB alleged that the company violated the CFPA by engaging in unfair, abusive,...more

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