In a series of rulings at the end of its term, the Supreme Court fundamentally changed administrative law precedents, including some that have held firm for more than 40 years. The decisions will curtail federal agencies’...more
On March 6, the Securities and Exchange Commission (“SEC”) voted along party lines to adopt its long-awaited climate-related disclosure framework for registrants. This “Final Rule” largely reflects the proposed rule put...more
On Monday, the U.S. Supreme Court announced that it has agreed to review the Fifth Circuit’s decision in Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA). The decision...more
On Jan. 11, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule that would require nonbanks under its supervisory authority, subject to limited exceptions, to annually register information about...more
In late October, the Consumer Financial Protection Bureau (CFPB), in conjunction with the White House, announced more actions in regard to limiting what they have collectively negatively labeled as “junk fees” as well as...more
Over the last several weeks, the Bureau of Industry and Security (BIS) has telegraphed sweeping, new controls on U.S. exports to the People’s Republic of China (PRC) pertaining to tools and technologies that support advanced...more
Over the last several weeks, the Bureau of Industry and Security (BIS) has telegraphed sweeping, new controls on U.S. exports to the People’s Republic of China (PRC) pertaining to tools and technologies that support advanced...more
10/13/2022
/ Bureau of Industry and Security (BIS) ,
China ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Foreign Policy ,
Manufacturers ,
National Security ,
Popular ,
Semiconductors ,
Technology Sector ,
U.S. Commerce Department
A new Federal Trade Commission (FTC) Notice of Proposed Rulemaking (NPRM) concerning advertising, add-on products and new disclosures in the motor vehicle marketplace could have a major impact on industry participants. Using...more
The Biden administration is reportedly considering the issuance of an executive order that would create a governmentwide approach to the oversight and regulation of cryptocurrencies. Such an order would likely have...more
Securities and Exchange Commission (the “Commission”) Chair Gary Gensler has repeatedly signaled his intention to begin requiring public filers to disclose climate change-related risks in quarterly and annual filings, citing...more
On Sept. 14, Gary Gensler, chair of the Securities and Exchange Commission, testified before the Senate Banking Committee that the agency has authority using the existing, “broad” definition of a “security” to regulate the...more
9/22/2021
/ Bitcoin ,
Blockchain ,
Cryptocurrency ,
Digital Currency ,
Financial Instruments ,
Financial Markets ,
Initial Coin Offering (ICOs) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Token Sales ,
Virtual Currency
The House of Representatives of the 117th Congress convened this week, as prescribed by the U.S. Constitution, and adopted a set of rules to govern the body over the next two years. While rules packages are often full of the...more
In a recent Senate Banking Committee hearing, Sen. Pat Toomey (R-PA) asked Federal Reserve Chairman Jerome Powell whether there was likely to be “strong demand” for the three credit facilities that comprise the Federal...more
The April 30 changes to the Federal Reserve’s Main Street Lending Program (MSLP) broaden the Federal Reserve’s backstop for loans to small and medium-sized enterprises (SME), but also impose new non-credit-related...more
On April 9, the Federal Reserve published term sheets for two COVID-19-related “Main Street” lending facilities for companies with both fewer than 10,000 employees and less than $2.5 billion in 2019 revenue. Explained in more...more
Today, the Federal Reserve announced new lending facilities and expanded existing lending facilities for mid-sized “Main Street” businesses, larger investment grade businesses, capital markets and municipal securities. The...more
The nation’s health crisis is our collective primary concern, but a financial crisis of unparalleled proportions is close on its heels. A significant number of household brand companies that are deeply woven into the fabric...more
As we noted on Tuesday, the Federal Reserve and the Treasury Department are working around the clock to allocate the $454 billion Congress authorized in the CARES Act for credit and liquidity facilities created pursuant to...more
The CARES Act, which appropriated approximately $2 trillion to save the American economy, was written in just under a week, reflecting Congress’s bipartisan urgency in mitigating COVID-19’s economic toll on workers and...more
4/2/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Federal Loans ,
Federal Reserve ,
Financial Stimulus ,
Relief Measures ,
SBA ,
Small Business ,
Tax Credits ,
U.S. Treasury
Subtitle A (Coronavirus Economic Stabilization Act of 2020 (“Act”)): This extensive Act within the CARES Act principally provides $500 billion to the Department of the Treasury’s (“Treasury”) Exchange Stabilization Fund for...more
The CARES Act appropriated $454 billion to the Treasury Department to be used in capitalizing Federal Reserve lending facilities. While that may sound like a lot of money, there is already intense competition for it among...more
4/1/2020
/ Banks ,
Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Federal Reserve ,
Financial Stimulus ,
Health Care Providers ,
Healthcare ,
Lenders ,
Lending ,
Liquidity ,
Medicaid ,
Medicare ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Tax Relief ,
Unemployment Insurance
On March 25, the Senate approved a $2 trillion stimulus package, the Coronavirus Aid, Relief, and Economic Security Act, to address the economic and health impacts of the COVID-19 pandemic. The bill now moves to the House for...more
In recent years, the friction between public companies and proxy advisory firms—companies that provide proxy vote recommendations to institutional fund managers and other investment advisers—has intensified. Public issuers...more
A significant and much needed update to the United States’ anti-money laundering (AML) laws is one of the few remaining legislative efforts that may get across the finish line during this election year. Members of both...more
On May 22, the Senate Banking Committee and House Financial Services Committee are each expected to consider and approve similar but not identical pieces of legislation to modernize the jurisdiction and operation of the...more