De Novos During the Time of COVID-19

Troutman Pepper
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Troutman Pepper has produced a series of podcasts on legal and business issues faced by companies during the COVID-19 pandemic.

This episode features Troutman Pepper Financial Institutions lawyers Zayne Tweed (moderator) and James Stevens, who discuss de novo banks and “neo-banks” and some of the challenges faced while launching them during COVID-19 (which could be swapped out for any shock to the financial arena which impacts the regulatory process).

Specific topics See more +

Troutman Pepper has produced a series of podcasts on legal and business issues faced by companies during the COVID-19 pandemic.

This episode features Troutman Pepper Financial Institutions lawyers Zayne Tweed (moderator) and James Stevens, who discuss de novo banks and “neo-banks” and some of the challenges faced while launching them during COVID-19 (which could be swapped out for any shock to the financial arena which impacts the regulatory process).

Specific topics include:

-General overview of the regulatory process when launching de novos

-Three case studies of de novo projects that took place in the past year

-How the shifting regulatory environment impacted the process for each project

-Communicating with the regulators in a crisis

-Definition of “neo-banks” and how they interact with banks as well as the unique hurdles they face

-How neo-banks offer their products and target customers – it’s often all about the mission

-Increased focus on underbanked communities. See less -

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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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