Luse Gorman, PC is pleased to announce that we are again the No. 1 legal advisor in the nation, based on number of transactions, for bank merger and acquisitions as reported by S&P Global Market Intelligence.
Read More...To our clients and friends:
On December 12, 2019, the Federal Deposit Insurance Corporation (the “FDIC”) issued a notice of proposed rulemaking (the “Proposed Rule”) to modernize certain aspects of the FDIC’s brokered deposit regulatory framework so that the classification of a brokered deposit appropriately reflects technological changes in the banking industry.
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The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Financial Crimes Enforcement Network, in consultation with the Conference of State Bank Supervisors, issued a joint statement today clarifying the legal status of hemp and the relevant Bank Secrecy Act (BSA) requirements applicable when providing financial services to these customers (the “Joint Statement”).
Our Alert, which summarizes the key provisions of the Joint Statement, is available here.
Read More...On October 29, 2019, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (the “Federal Agencies”) adopted a final rule to simplify the regulatory capital requirements for eligible community banks and holding companies that opt into the community bank leverage ratio framework (“CBLR framework”), as required by Section 201 of the Economic Growth, Relief and Consumer Protection Act of 2018. The final rule will be effective as of January 1, 2020.
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