Consumer Finance Monitor Podcast Episode: Did the Supreme Court Hand the CFPB a Pyrrhic Victory?
Consumer Finance Monitor Podcast Episode: Understanding the Federal Reserve Board Proposal to Lower Interchange Fee Cap for Debit Card Transactions
Consumer Finance Monitor Podcast Episode: Community Reinvestment Act Reform: A Close Look at the Final Rule
The Future of Payments: Exploring FedNow With the Payments Professor — Payments Pros – The Payments Law Podcast
Federal Banking Interagency Final Guidance on Third-Party Relationships - The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: What is FedNow and its Role in the U.S. Payments System?
Breaking (Down) the Debt Ceiling
Podcast: 2023 Deal Cycle - Considerations for Transactions in Uncertain Economic Times - Diagnosing Health Care
Crypto Year in Review 2022: Federal Reserve and Central Bank Digital Currencies and FDIC/OCC Regulatory Developments - The Crypto Exchange Podcast
Is the U.S. Payments System Failing Business and Consumers? A Discussion with Special Guest Dan Awrey, Professor of Law, Cornell Law School
DE Under 3: Latest Monthly Jobs Report, Unemployment & the US BLS JOLTS Report
Stablecoin Regulation in an Unstable Time: The Fed and Treasury Address a Stablecoin Regulatory Framework
Congressional and Federal Agency Action Following Executive Order on Digital Assets Policy
The Return of TALF Fund Opportunities Via COVID-19 Relief
Regulators Tackle Board Effectiveness and Overdrafts
The Community Reinvestment Act (CRA): Recap and What to Expect in 2014
After months of drama that we dutifully catalogued right here, the U.S. plan to “force the sale of TikTok’s American operations” to Oracle and Walmart “has been shelved indefinitely.” The forced sale has “languished since...more
On December 29, the Federal Reserve announced it would extend the termination date of Main Street Lending program facilities to January 8, 2021. The extension will allow additional time for lenders to process and fund loans...more
On December 27, 2020, the President signed into law the Consolidated Appropriations Act, 2021.Title X of Division N of that law ("Title X") contains several provisions that change the authority of the Board of Governors of...more
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more
The Federal government’s COVID emergency loan programs and credit facilities have moved into critical new phases. As highlighted by the recent media focus on the new SBA PPP Forgiveness Questionnaire for borrowers, both...more
The Main Street Lending Program (MSLP) is scheduled to terminate on Dec. 31, 2020. The Federal Reserve recently issued additional guidance in anticipation of winding down the program....more
The US federal government has taken significant actions to quell the economic fallout for businesses weathering the coronavirus (COVID-19) pandemic, including the Federal Reserve providing $600 billion through the Main Street...more
The Main Street Lending Program is designed to help companies that were in sound financial condition prior to the COVID-19 pandemic to maintain their operations and payroll until conditions normalize. The Federal Reserve Bank...more
The window for the Main Street Loan Program (“Main Street Program”), designed to provide loans with favorable terms to midsize companies to help address the economic fallout caused by the pandemic, is closing on December 31,...more
The Federal Reserve has issued amended FAQs for the for-profit and non-profit Main Street Lending Programs. The FAQs address the following: • Restrictions on underlying credit facilities for MSELF Upsize Tranches; •...more
The Federal Reserve recently adjusted the terms of the Main Street Lending Program (MSLP) to better target support to smaller businesses....more
The Federal Reserve announced on October 30, 2020 that the minimum loan size for three Main Street Lending Program facilities available to for-profit and nonprofit borrowers, (1) the Main Street New Loan Facility (MSNLF), (2)...more
Updated Benefits for Senior Living Facility Owners and Operators - Effective October 30, 2020, the Federal Reserve updated its Term Sheets and Frequently Asked Questions (the “Updated FAQs”) describing the Main Street...more
The Federal Reserve Bank of Boston announced on July 6, 2020, that the Main Street Lending Program (“Main Street Program” or “Program”) is now fully operational and ready to purchase participation in eligible loans that are...more
Nonprofit organizations are on the front lines in the battle against the coronavirus (COVID-19), but they also number among the many victims of COVID-19’s devastating financial impact. In response, the Federal Reserve...more
In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more
In our last general discussion on the Main Street Lending Program (the “Program”), we focused on providing an overview of the Program and some key commercial and legal matters for borrowers and lenders to consider when making...more
For six months, the Federal Reserve has been developing and refining the products, purpose and eligibility for the Main Street Lending Program. The portal finally opened for loans at the end of July, and in September, the...more
October 15, 2020 By: Jeffrey B. Scheer and Anna W. Richards As we previously advised, the Main Street Lending Program is fully operational and is accepting submissions of eligible loans to nonprofit organizations and...more
Big Friday win for Apple in its ongoing battle with Epic Games, as N.D. Cal. Federal Judge Yvonne Gonzalez Rogers ruled that Cook & Co. didn’t “need to reinstate the popular video game Fortnite in its App Store,” a blow to...more
Who Needs to Know - Lenders and potential borrowers considering making loans or borrowing under the MSLP. Why It Matters - In the month of September, the Federal Reserve Bank of Boston (Boston Fed) released...more
Fed Releases Updated Frequently Asked Questions for Business and Nonprofit Facilities and Instructions for Lender Required Documentation - On September 18, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”)...more
In the News. The Board of Governors of the Federal Reserve System (Federal Reserve) proposed rules to modernize the regulations that implement the Community Reinvestment Act (CRA); the Conference of State Bank Supervisors...more
On September 18, 2020, the Federal Reserve issued new Frequently Asked Questions (FAQs) for its Main Street Lending Program (MSLP). Separate FAQs for the MSLP’s three for-profit programs (the Main Street New Loan Facility...more