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Interest Rates

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Just days after profiled Walmart’s efforts to keep pace with Amazon in the grocery biz, a whistleblower and former WM director of business development is accusing Walmart of issuing “misleading e-commerce results” and...more

Wealth Management Update - March 2018

by Proskauer Rose LLP on

March Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The March § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

Podcast - Credit Funds: Make-Wholes and Cramdowns: Understanding the Recent Second Circuit Momentive Decision

by Ropes & Gray LLP on

Credit funds that invest in distressed debt, whether through secondary trading or loan origination, not only must evaluate the borrower’s credit quality and business plan, but, with the help of their lawyers, must also keep...more

Madden Fix Bill Passes House, Faces Uncertain Fate In Senate

The United States House of Representatives passed H.R. 3299, commonly known as the “Madden fix” bill, by a vote of 245-171 on February 14, 2018. The bill, which is officially entitled “Protecting Consumers’ Access to Credit...more

Passive Investors in Payday Lending Operations Get Partial Reprieve

While tossing certain claims brought by Pennsylvania’s attorney general, a federal judge denied part of a motion to dismiss brought by online short-term lenders in an action accusing them of “renting” Native American tribes...more

House passes “Madden fix” bill

by Ballard Spahr LLP on

By a vote of 245-171, the House passed H.R. 3299, the “Madden fix” bill (whose official title is the “Protecting Consumers’ Access to Credit Act of 2017.”) In Madden, the Second Circuit ruled that a nonbank that purchases...more

Are you prepared for the future of LIBOR?

by Hellmuth & Johnson PLLC on

The Financial Conduct Authority (“FCA”) in the UK has announced that it will no longer require banks to submit London Interbank Offered Rate (“LIBOR”) quotes after 2021. This change requires careful review and action for...more

Virginia Attorney General Announces Settlement with Online Lender, Resulting in $2.7 Million in Relief to Virginia Consumers

by Goodwin on

?On February 7, 2018, Virginia Attorney General Mark R. Herring (Virginia AG) announced a settlement with a Virginia based online lender for alleged violations of the Virginia Consumer Protection Act. The lender allegedly...more

Seventh Circuit Rejects Use of Miller "Safe Harbor" Language When a Debt Cannot Increase

by Ballard Spahr LLP on

Safe harbor language is not always safe, as illustrated by a recent decision of the U.S. Court of Appeals for the Seventh Circuit Court of Appeals in Boucher v. Finance System of Green Bay....more

European leveraged debt lifts off: The future for European leveraged debt

by White & Case LLP on

Economies are strengthening and the outlook is probably the best it has been in 10 years, but there can be no room for complacency in the debt market. The momentum is set to continue into 2018, although the dynamics could...more

LIBOR Phaseout: What Happened and What's Next?

by Baker Donelson on

The Financial Conduct Authority (FCA) of the United Kingdom plans to phase out the London Interbank Offered Rate (LIBOR) by the end of 2021. LIBOR is the benchmark rate that many banks use to set interest rates in loan...more

What is Arkansas' Pre-Judgment Interest Rate? A Vexing Question with No Clear Answer.

If you become engaged in litigation in Arkansas, the answer to this question can be worth hundreds of thousands of dollars in potential recovery or exposure. As such, pre-judgment interest is an important consideration. This...more

Tried and trusted: US M&A in 2017: Peaks, valleys and plateaus: The US M&A landscape in 2017

by White & Case LLP on

Overall deal value declined in 2017, yet it was higher than all other post-crisis years from 2008 to 2013. HEADLINES - Overall M&A fell 14.3 percent by value compared to 2016, while the number of deals edged ahead by...more

The Future of Libor Implications for the Loan Market

by Shearman & Sterling LLP on

The London Interbank Offered Rate (ICE LIBOR, often referred to colloquially as Libor) is an important interest rate benchmark. It is currently set with reference to the rate at which certain large and financially sound Libor...more

Interest Rates are Rising in South Carolina Courts

by McNair Law Firm, P.A. on

Current economic signs give consumers, investors and economists alike reason for optimism. Unemployment is at historically low levels which means employers are having to offer higher wages to attract and keep talent. Although...more

CFTC Updates on Virtual Currency Regulation, Alternatives to Libor and Fallout From Brexit

In 2017, Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo made clear he will strive to improve, not abolish, many reforms the CFTC adopted to implement the Dodd-Frank Act’s mandate for new...more

Changes at the Fed – Janet Yellen’s Swan Song As Chair – Who’s Watching the Store and the Fed’s Policy?

January 30 and 31 will mark the first meeting of 2018 for the Fed Open Market Committee as well as the last meeting for Janet Yellen as Chair. As we move into the second full year of Trump’s presidency, the composition of the...more

State of the Financial Restructuring Market

Continuing low interest rates and generally improved economic conditions in the U.S. and worldwide during 2017 have reduced financial distress and the need for business bankruptcies in most sectors. However, out-of-court...more

The Future of LIBOR

A London seminar considers what may become of the long-time benchmark interest rate as it faces possible obsolescence—and what might take its place. Although the 2021 deadline, after which LIBOR will not be supported by...more

New Federal Corporate Income Tax Rate Decrease Affects Borrowers

by Davis Brown Law Firm on

Late in 2017, H.R.1, the federal tax reform bill (the “Federal Tax Act”) was signed into law. Effective January 1, 2018, the maximum federal corporate income tax rate decreased from 35% to 21%. ...more

Interest Rate Increase Coming for Many Tax-Exempt Borrowers

by Holland & Knight LLP on

Many states, local governments and conduit borrowers (e.g., 501(c)(3) not-for-profit corporations) have directly placed tax-exempt loans (secured by the issuance of notes or bonds) with lenders, such as banks and their...more

Preparing Borrowers For The LIBOR Phase-Out: Some Practical Advice

by Cole Schotz on

As a result of the well-publicized scandals involving LIBOR rate manipulation, British regulators announced plans in July 2017 to phase-out LIBOR by 2021 and replace it with a more reliable benchmark. In addition to other...more

The Impact of Tax Reform on Finance

by McDermott Will & Emery on

Two key changes to business tax provisions in the Tax Cuts and Job act that will interest private equity sponsors and their lenders are the new limitation on deductibility of business interest expense and the temporary...more

Critical Question: Inquiry and Analysis on Whether an Uninsured Nationally Chartered Fintech Bank Charter Can Export Interest...

by Stinson Leonard Street on

The Comptroller of the Currency (“OCC”) presented a White Paper in December 2016 on Exploring Special Purpose National Bank Charters for Fintech Companies (“White Paper”). Comptroller Tom Curry noted that he had asked the OCC...more

Replacing LIBOR in Derivatives Agreements

In July 2017, the CEO of the U.K. Financial Conduct Authority (FCA), Andrew Bailey, announced that the FCA will discontinue the London interbank offered rate (LIBOR) at the end of 2021. LIBOR is an interest rate index that is...more

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