News & Analysis as of

Borrowers Reporting Requirements

Bowditch & Dewey

[Webinar] Full Disclosure – Tips, Tricks and Traps for the Unwary in Navigating Public Finance Disclosure Obligations: Part II –...

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The newly-enacted Financial Data Transparency Act (FDTA) has the potential to significantly change the format currently used by issuers and conduit borrowers in submitting financial information to the Municipal Securities...more

Goodwin

SEC Proposes Short Sale Disclosure Rule and Reopens Comment Period for Reporting on Securities Loans

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule to increase market transparency regarding short selling and extended the comment period for its proposed rule requiring reporting on...more

Goodwin

SEC Proposes Changes to Private Fund Regulation

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In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed changes to private fund regulation; the Office of the Comptroller of the Currency (OCC) succeeded in validating its “valid-when-made” rulemaking; the...more

Blake, Cassels & Graydon LLP

LMA, ELFA et facteurs ESG : tout ce que vous devriez savoir

BEST PRACTICE GUIDE FOR TERM SHEET COMPLETENESS - En novembre 2020, la Loan Market Association (la « LMA ») et la European Leveraged Finance Association (l’« ELFA ») ont publié le guide intitulé Best Practice Guide for...more

Blake, Cassels & Graydon LLP

The LMA, The ELFA and ESG: What You Need to Know

BEST PRACTICE GUIDE FOR TERM SHEET COMPLETENESS - In November 2020, the Loan Market Association (LMA) and the European Leveraged Finance Association (ELFA) published the Best Practice Guide for Term Sheet Completeness...more

Goodwin

FinCEN Proposes Rule for SARs Sharing Pilot Program

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In This Issue. The Financial Crimes Enforcement Network (FinCEN) issued a proposed rule about the establishment of a limited-duration pilot program for sharing suspicious activity reports (SARs); FinCEN published the final...more

Fisher Phillips

What Employers Need To Know About Latest Federal COVID-19 Stimulus Package

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Federal lawmakers agreed to a second round of stimulus legislation late last night, sending a nearly 6,000-page bill to President Trump for his expected signature. The proposal allocates $900 billion in economic relief to...more

American Conference Institute (ACI)

[Virtual Event] 27th NATIONAL FORUM ON Residential Mortgage Regulatory Enforcement & Litigation - November 17th - 18th, 9:00 am -...

ACI’s Residential Mortgage Forum is a premier gathering of leading servicers, lenders, external counsel, and regulators engaging in dialogue on how to navigate the very complex residential mortgage enforcement and litigation...more

Bass, Berry & Sims PLC

HRSA Releases Details on Provider Relief Fund Reporting Requirements

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The Health Resources and Services Administration (HRSA) quietly released a Post-Payment Notice of Reporting Requirements (Notice) over the weekend, which provides some initial details regarding the reporting requirements...more

Pillsbury Winthrop Shaw Pittman LLP

Can the Sustainability Linked Loan Deliver Lasting Change?

As with most sectors, sustainability is a buzzword in the loan market. The market has taken its first steps with the sustainability linked loan, which is now gaining in popularity. Sustainability linked loans (SLLs) are...more

Foodman CPAs & Advisors

What do you do if you are a Financial Institution with COVID-19 Loan Accommodations near the end?

On August 3, 2020, the Federal Financial Institutions Examination Council (FFIEC)  issued a Joint Statement on Additional Loan Accommodations Related to COVID-19 regarding loans  that are near the end of an initial loan...more

McGlinchey Stafford

Credit Reporting and COVID: What did the CARES Act change? [More with McGlinchey Ep. 5]

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Under the CARES Act, borrowers must be affected by COVID-19 and receive an “accommodation” for their creditors to be subject to new FCRA reporting obligations. However, the CARES Act does not explain how the consumer needs to...more

McGlinchey Stafford

CFPB CARES Act Nuance: Comment Code Alone Does Not Cut It

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On Tuesday, the Consumer Financial Protection Bureau issued a Bulletin entitled Consumer Reporting FAQs Related to the CARES Act and COVID-19 Pandemic. The CFPB’s Bulletin reminds creditors that compliance with the Fair...more

Womble Bond Dickinson

Main Street Lending Program Set to Launch - Additional Terms and Guidance Released

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On May 27, 2020, the Federal Reserve Board, through the Federal Reserve Bank of Boston, released additional details for lenders and borrowers interested in participating in the $600 billion Main Street Lending Program (MSLP)....more

McGlinchey Stafford

Top 11 Tips for Lenders Navigating Commercial Loan Modifications in Response to the COVID-19 Outbreak

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Managing Borrower Expectations - In the immediate term, most Lenders are considering modifications that offer (usually on request only and subject to normal underwriting and credit review) a 60–90 day deferral of payments...more

Ballard Spahr LLP

New CFPB webinar available on 2015 HMDA final rule

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On October 15, 2015, the CFPB released a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act (HMDA), requiring certain data on mortgage applications and loans to be collected beginning in 2017...more

Ballard Spahr LLP

SEC Announces Second Wave of MCDC Enforcement Actions

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The Securities and Exchange Commission (SEC) this week announced enforcement actions under its Municipalities Continuing Disclosure Cooperation (MCDC) Initiative, targeting 22 municipal bond underwriting firms for alleged due...more

Saul Ewing LLP

SEC’s Self-Reporting Program to Correct Misstatements Regarding Continuing Disclosure Compliance Set to Expire on September 10,...

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The Securities and Exchange Commission’s Municipalities Continuing Disclosure Cooperation Initiative provides an opportunity for municipal bond issuers, borrowers and underwriters to correct misstatements in offering...more

Pillsbury Winthrop Shaw Pittman LLP

Proposed Regulations May Affect Default Risk for Borrowers with Pension Plans

The Pension Benefit Guaranty Corporation (PBGC) has proposed regulatory safe harbors waiving the obligation of financially sound defined benefit pension plans and the companies that maintain them from the duty to report...more

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