News from the economy, politics and the financial markets
In this section of our news section we provide you with editorial content from leading publishers.
Latest news
What Will Happen to My Severance Payments if My Employer Files for Bankruptcy? - Creditor’s Rights Toolkit
Pursuant to Section 503(b)(1)(A) of the Bankruptcy Code, "wages, salaries, and commissions for services rendered after the commencement of the case" are treated as administrative expense claims. Additionally, Section 507(a)(4) of the Bankruptcy Code grants priority status to "wages, salaries, or commissions, including vacation, severance, and sick leave" earned within 180 days of the bankruptcy case. While both sections aim to protect employees' compensation in the event of an employer's...By: Troutman Pepper Locke
The Drama Surrounding the Corporate Transparency Act Has Now Reached the U.S. Supreme Court
I last reported on December 27, 2024, that the Corporate Transparency Act (“CTA”) hit yet another speed bump. The U.S. Court of Appeals for the Fifth Circuit (“Fifth Circuit”) put the CTA on ice as of December 24, 2024, restraining the government from enforcing the new law while it heard the underlying matter in Texas Top Cop Shop, Inc. et al v. Merrick Garland, Attorney General of the United States et al....By: Foster Garvey PC
Corporate Transparency Act – Supreme Court Allows Enforcement of the Corporate Transparency Act (CTA)
On January 23, 2025, the Supreme Court stayed the nationwide injunction that was put in place by the Fifth Circuit barring enforcement of the CTA. This decision allows the Financial Crimes Enforcement Network (“FinCEN”) to enforce the Beneficial Ownership Information reporting requirements contained within the CTA....By: Bowditch & Dewey
Food Venture Financing News - Weekly Issue No. 220
CPG Corporate Venture and Private Equity Fund - This week's featured corporate venture and private equity fund is BRF S.A....By: Davis Wright Tremaine LLP
Who Regulates Residential Mortgage Trigger Leads?
In a bit of a surprise development at the end of 2024, the United States Senate passed the Homebuyers Privacy Protection Act, which amends the Fair Credit Reporting Act (FCRA) to include specific restrictions on the use of trigger leads in the residential mortgage lending space. While industry groups applauded the Senate’s passage of the act, the United States House of Representatives has not passed corresponding legislation, so the act is not currently in effect......By: Bradley Arant Boult Cummings LLP
Financial Institutions Face New Risks in Allowing Consumers to Execute Wire Transfers Online
A recent court order issued in New York should concern any financial institutions that allow consumers to initiate wire transfers online. Financial institutions that allow consumers to execute wire transfers online should consider whether additional measures are necessary to avoid unknown risks and exposure....By: Adams and Reese LLP
ESMA Publishes Q&A on its Guidelines on Funds’ Names Using ESG or Sustainability-related Terms
On 14 May 2024, ESMA published its guidelines on funds’ names using ESG or sustainability-related terms (the Guidelines). The Guidelines have applied since 21 November 2024. Funds in existence before 21 November 2024 have until 21 May 2025 to either comply with the Guidelines or change their name....By: Dechert LLP
U.S. Supreme Court Provisionally Reinstates the Corporate Transparency Act
The U.S. Supreme Court issued an order on January 23, 2025, which provisionally reinstates the Corporate Transparency Act (CTA) while a legal challenge to it continues. This brief order, which stayed an injunction against the CTA by the U.S. District Court for the Eastern District of Texas, did not provide any reasoning and is not final, but it allows the government to proceed with enforcement of the CTA, at least until the appeal of the district court’s amended order has been decided by the...By: Amundsen Davis LLC
Talking Trends with MidCap
In Women in Private Credit: Talking Trends, we dive into the world of private credit through the lens of eminent women in the field — from professionals at the forefront of industry leadership to our own lawyers. Together, we navigate the trends and topics influencing private credit against the backdrop of today’s ever-evolving geopolitical landscape....By: Proskauer Rose LLP
The Implication Of Imposing Interest In The UAE
In the current world, where trade ties are vital in strengthening the economy of a country, it is often necessary to enter into legal contracts with various entities around the world. It is also necessary that these contracts are based on agreements and policies common to all, so as to secure the interests of all parties....By: Awatif Mohammad Shoqi Advocates & Legal
Fifth Circuit Reverses Bankruptcy Court’s Ruling on Lenders’ Sacred Right of Pro Rata Repayment in Uptiering Transaction
On December 31, 2024, the Fifth Circuit Court of Appeals overturned the Bankruptcy Court for the Southern District of Texas’ (the “Bankruptcy Court”) decision that the exchange by certain lenders of Serta Simmons Bedding, LLC (“Serta”) holding $1.2 billion of first lien term loans for super priority term loans constituted an open-market purchase exempt from the pro rata payment provisions of the credit agreement....By: Seward & Kissel LLP
Consumer-Protection Federalism: The CFPB’s Latest Guidance
Just days before the inauguration, the Consumer Financial Protection Bureau (the CFPB) issued guidance to states in a report titled, “Strengthening State-Level Consumer Protections: Promoting Consumer Protection Federalism.” In its report, the CFPB urges states to strengthen state-level consumer protection laws. Many people suspect the new administration will roll back federal consumer protections. If states follow the CFPB’s guidance, however, businesses may find themselves operating in a more...By: Snell & Wilmer
Trusts Holding Loans Need Licensing, Says Maryland Office of Financial Regulation
On January 10, 2025, the Maryland Office of Financial Regulation issued emergency regulations revised to clarify that “passive trusts” holding residential mortgage loans must obtain a Mortgage Lender License and if the trusts hold installment loans (described below), then they may also need to obtain an Installment Lender License....By: Cadwalader, Wickersham & Taft LLP
Federal Reserve and FDIC Withdraw From the Network for Greening the Financial System
AT A GLANCE - The Federal Reserve and FDIC have withdrawn from the Network for Greening the Financial System due to concerns that its activities exceeded the Federal Reserve's and the FDIC's statutory mandates—and amid increasing scrutiny of US regulators' participation in non-treaty international organizations....By: Mayer Brown
Maryland Emergency Regulations
On January 10, 2025, the Maryland Office of Financial Regulation issued emergency regulations revised to clarify that “passive trusts” holding residential mortgage loans must obtain a Mortgage Lender License and if the trusts hold installment loans (described below), then they may also need to obtain an Installment Lender License. The emergency regulations were issued on an emergency basis to codify precedent established in case law in Summer 2024....By: Cadwalader, Wickersham & Taft LLP
Changes Afoot
As the new administration settles in, it has begun to catalyze significant changes in the bank supervisory and regulatory environment. The FDIC is the first mover in this effort. Longtime director and sometime Chairman Martin Gruenberg resigned as a director over the weekend prior to the January 20 inauguration....By: Cadwalader, Wickersham & Taft LLP
CFPB Rescinds 2020 Advisory Opinion on Earned Wage Access Products
As part of a flurry of last minute regulatory activity by the Biden administration’s Consumer Financial Protection Bureau (CFPB or Bureau), on January 15, the CFPB published an advisory opinion in the Federal Register rescinding a previous advisory opinion which the Bureau issued during the first Trump administration in November 2020. The 2020 advisory opinion had described how a specific type of “earned wage” product did not constitute the offering or extension of “credit” under the Truth in...By: Troutman Pepper Locke
IRS Roundup January 6 – 10, 2025
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 6, 2025 – January 10, 2025....By: McDermott Will & Emery
UK Financial Conduct Authority portfolio letter for credit reference agencies and credit information service providers
The U.K. Financial Conduct Authority published a portfolio letter setting out its supervisory strategy for credit reference agencies and credit information service providers. In the letter, the FCA sets out its priority areas for the next two years, which relate to: - embedding the consumer duty—the FCA has concerns that the process of raising a data dispute or complaint can be difficult for consumers to navigate. As such the FCA intends to undertake work to understand complaint practices...By: A&O Shearman
Bermuda Public Companies Update, Winter 2025
This edition of the Bermuda Public Companies Update summarises significant transactions involving Bermuda companies listed on the New York Stock Exchange and Nasdaq in the second half of 2024. Global Market Update - In the second half of 2024 global capital markets witnessed a gradual recovery, with IPO activity slowly rebounding from the restrained levels of early in the year. Despite this progress, deal volumes remain well below historical norms, reflecting ongoing macroeconomic...By: Conyers
Showing 4281 to 4300 of 4428 entries
