This is the third installment of our series evaluating the choice between starting a “new” bank through the de novo chartering process or purchasing an existing bank to implement the new business plan. Since we first wrote on...more
The Senate Banking Committee has not taken up the previously discussed Senator Warren (D-MA) and Senator Hawley (R-MO) claw back legislation, but has instead, by a bipartisan vote, cleared to the full Senate new bipartisan...more
Currently, the FDIC has a limited ability to claw back executive compensation in the event of a bank failure. An unlikely combination of U.S. Senators, including Elizabeth Warren (D-MA), Josh Hawley (R-MO), and J.D. Vance...more
Sherrod Brown, the Chairman of the Senate’s Committee on Banking, Housing, and Urban Affairs recently sent a letter to Michael Hsu, the Acting Comptroller expressing his concern over a number of national trust charters...more
This week the U.S. Small Business Administration (SBA) released updated Paycheck Protection Program (PPP) interim final rules which incorporate new requirements imposed by the Economic Aid to Hard-Hit Small Businesses,...more
Congress on Monday approved a deal on a $900 billion COVID-19 economic relief package, which is expected to be signed into law within the next few days. The bill provides $12 billion in support to small lenders focused on...more
The Office of the Comptroller of the Currency (OCC) released “OCC Bulletin 2020-44” which encourages institutions to “prudently document their implementation and lending decisions” under the Small Business Administration's...more