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Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for May 2024

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The permanent suspension of an audit firm and its owner for...more

Seward & Kissel LLP

Down to the Wire: Citibank Wins Big in Revlon Appeal

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In a long-anticipated decision, on September 8, 2022, the United States Court of Appeals for the Second Circuit (the “Second Circuit”) vacated the judgment of the Southern District of New York (the “District Court”) in, In re...more

BakerHostetler

Important Lessons from the DOJ's First Civil Action for CARES Act Loan Fraud

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On January 12, 2021, the Department of Justice (the “DOJ”) settled its first civil action for alleged fraud against the Paycheck Protection Program (the “PPP”) – the primary lending program under the Coronavirus Aid, Relief,...more

BakerHostetler

SBA and Treasury Department to Increase Scrutiny of PPP Loans

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The Treasury Department and the Small Business Administration (SBA) updated the Paycheck Protection Program (PPP) frequently asked questions on Dec. 9, 2020, indicating PPP borrowers that obtained a PPP loan of $2 million or...more

Maynard Nexsen

PPP Loan Audits: What to Expect, and How to Appeal

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The Paycheck Protection Program (PPP), as established by the CARES Act and subsequent guidance found in the PPP Interim Final Rules, provides loans and loan forgiveness based on borrower's certifications and documentation...more

Arnall Golden Gregory LLP

Top 10 Things to Know About SBA PPP Loan Review Decision Appeals to OHA

Earlier this month, the Paycheck Protection Program (“PPP”) moved from a phase of “loan disbursement” to a phase of “loan forgiveness.” As explained in our August 11, 2020 Client Alert, the U.S. Small Business...more

Winstead PC

[Webinar] Administering A Trust In a Recession: Issues Surrounding Trust Loans To Beneficiaries - April 21st, 10:00 am - 10:45 am...

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This presentation will address beneficiaries requesting loans from trustees. There are multiple issues that arise regarding the trustee’s authority to do so under the trust’s language and statutory and common law, and the...more

Jackson Lewis P.C.

Strings Attached: Accepting COVID-19 Financial Relief Could Limit Ability To Oppose Union Organizing

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Businesses that seek financial assistance under the Coronavirus Aid, Relief, and Economic Security (CARES) Act will be subject to several unique restrictions that could dramatically affect a company’s future. While the...more

BakerHostetler

IRS Issues Regulations That May Affect Borrowing Costs and Financing Terms of US Multinationals

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Recently proposed IRS regulations materially change the way stock and assets of foreign corporations that are “controlled foreign corporations” (CFCs) can be used to support debt of U.S. affiliates. ...more

Patterson Belknap Webb & Tyler LLP

Commercial Division Dismisses Claim Against Major Chinese Securities Firm Due to Lack of Personal Jurisdiction

In Lantau Holdings, Ltd. v. Orient Equal International Grp., No. 653920/2016, 2017 BL 77469 (Sup. Ct. Mar. 6, 2017), Judge Anil C. Singh of the New York County Commercial Division dismissed several claims by the plaintiff,...more

Ballard Spahr LLP

FTC Backs FCC’s Proposed Rule on TCPA Amendments for Calls Collecting Government Debt

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The Federal Trade Commission's (FTC) Bureau of Consumer Protection issued a Staff Comment on June 16, 2016, supporting several of the Federal Communication Commission's (FCC) proposed regulations implementing amendments to...more

Goodwin

Consumer Financial Services Litigation - Year In Review

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In 2015, the consumer financial services industry continued to face increasing pressure, from regulators and government enforcement activity, and ever-more creative litigation tactics. In order to stay competitive—and to...more

Manatt, Phelps & Phillips, LLP

Treasury Department: Tell Us More About Online Marketplace Lending

Why it matters - Raising the possibility of regulation, the Department of the Treasury has published a Request for Information (RFI) regarding online marketplace lending (also called peer-to-peer lending), seeking...more

Carlton Fields

CFPB Issues New Manual for Company Responses to Detailed Consumer Complaints

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On May 15, the Consumer Financial Protection Bureau ("the Bureau") issued an updated Company Portal Manual (“the Manual”) containing new guidance and instructions for companies to respond to consumer complaints filed with the...more

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