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Wages Federal Deposit Insurance Corporation

Ballard Spahr LLP

Missouri joins state efforts to regulate earned wage access providers

Ballard Spahr LLP on

On August 28, 2023 (the “Effective Date”), SB 103, signed into law by Missouri’s governor, will become the nation’s second statutory framework for earned wage access (EWA) providers.  The Missouri law closely resembles...more

CDF Labor Law LLP

Complying with Wage and Hour Obligations in the Face of Crisis

CDF Labor Law LLP on

The recent seizure and shutdown of two prominent regional banks – Silicon Valley Bank and Signature Bank – highlights for employers the issues that an unexpected liquidity crisis may bring. And, it’s not just banking...more

Constangy, Brooks, Smith & Prophete, LLP

Beware of MA penalties if you miss payroll – even if it’s due to a bank failure

On Friday, March 10, the Federal Deposit Insurance Corporation announced that it had closed the Silicon Valley Bank and taken control of its deposits. In its announcement, the FDIC said that insured depositors would have...more

McCarter & English, LLP

Silicon Valley Bank: What Happens Next?

US regulators seized Silicon Valley Bank (SVB) on March 10, marking the second largest US bank failure in history and largest since the 2008 global financial crisis. In response, investors began selling off stocks of other...more

Morrison & Foerster LLP

FDIC Bank Receivership Frequently Asked Questions

UPDATE (3/12 PM): U.S. Treasury Uses Systemic Risk Exception to Protect Depositors of Failed Banks and the Federal Reserve Board Establishes New Emergency Facility. Following the failure of Silicon Valley Bank (SVB) on...more

Lowenstein Sandler LLP

SVB FALLOUT: How VC-backed Startups May Extend Payroll & Avoid Furloughs

Lowenstein Sandler LLP on

In light of the FDIC takeover of Silicon Valley Bank (SVB), many of our startup, growth company, and fund clients have asked about how to manage their obligations to pay their team members during a period when the company’s...more

Procopio, Cory, Hargreaves & Savitch LLP

Pragmatic Steps in Response to Silicon Valley Bank’s Collapse to Potentially Mitigate Concerns

The unexpected collapse into Receivership of Silicon Valley Bank (SVB) is having a significant, disruptive affect in many areas of commerce. It creates any number of actual and potential problems and concerns for depositors...more

DailyPay, Inc.

Earned Wage Access & the American Overdraft Fee Crisis

DailyPay, Inc. on

You know we have a serious economic justice problem in this country when the poorest Americans are paying $8 billion in overdraft fees in $35 increments to the nation’s largest banks. But that’s exactly what happened in 2020...more

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