There is some confusion in the marketplace with respect to new loan products and services in the banking industry. My definition of “FINTECH” is broad and encompasses computer programs, applications and other technology used to provide banking and financial services. Perhaps you have noticed that many retail bank services have been streamlined through on-line payment, […]
Continue reading →The Trump Administration circulated a memorandum on January 20, 2017 (the “January 2017 Memo”) to the heads of executive departments and agencies, initiating a regulatory review to be headed by the Director of the Office of Management and Budget (“OMB”). The January 2017 Memo states in relevant part, “[S]end no regulation to the Office of […]
Continue reading →My firm specializes in transactions, regulations, strategic alliances and mixed collateral loan transactions in the real estate and financial services industries. We are positioned in a unique space in that my many years in big firm law and my expertise in complex mixed collateral transactions, mergers and acquisitions, private funds, fintech and bank regulation allow […]
Continue reading →Financial Institution Letter FIL-81-2016 The FDIC is seeking comment on a handbook developed to facilitate the process of establishing new banks. Applying for Deposit Insurance – A Handbook for Organizers of De Novo Institutions provides an overview of the business considerations and statutory requirements that de novo organizers will face as they work to establish […]
Continue reading →The Dodd-Frank statute also led to the adoption of Regulation 15G of the Securities and Exchange Act of 1934 (15 U.S.C.A. § 78o-11), which requires the sponsor in a CMBS securitization to retain a 5% stake in the credit risk of the underlying commercial real estate asset. The purported purpose of the regulations is to […]
Continue reading →The Office of the Comptroller of Currency (“OCC”) recently established that it will use its authority to grant special-purpose charter to allow FinTech companies into the banking system. The charter details have not yet been finalized. In order to apply for this special-purpose charter, a company must engage in fiduciary activities, or either one of […]
Continue reading →We are consulting with an investment management firm on potential changes in commercial real estate. Our client has asked for an overview of how the Trump presidency might affect the CMBS risk retention rules and High Volatility Commercial Real Estate(“HVCRE”) rules. The scope of our review also includes an analysis on GSE’s and possible effects […]
Continue reading →We consult with marketplace lenders and community banks and other lenders to create a strategic partnership to meet both parties’ business goals. It may be more cost effective to partner with a FinTech provider or marketplace lender than to create a new platform. We offer a value-based consulting product to analyze goals, prepare a strategic […]
Continue reading →The US District Court for the Central District of Ca. granted the Consumer Financial Protection Bureau’s (“CFPB”) Motion for Partial Summary Judgement on August 31, 2016. This is a trial court decision and could be reversed on appeal. The “combination” at issue related to CashCall’s arrangement with Western Sky Financial (“Western”). Western claimed an “affiliation” […]
Continue reading →Husky Int’l Electronics v. Ritz (US Supreme Court 2016). This case is about Bankruptcy Code 11 U.S.C. 523 which defines which debts are non-dischargeable in bankruptcy. Most common examples are a debt incurred by way of fraud or false representation, fraud in a fiduciary capacity, domestic support obligations or willful or malicious injury. The opinion […]
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