September 27, 2023
To our clients and friends:
On September 19, 2023, the Consumer Financial Protection Bureau issued Circular 2023-03 to address whether creditors could rely on stock reasons in the Bureau’s sample adverse action notices when issuing those notices after using AI in the credit decision. Our Alert discusses the CFPB’s interpretation of ECOA as it applies to the use of AI, the Bureau’s recent trend of announcing enforcement priorities through guidance, and steps to take to address the Circular’s key takeaways.
Our Alert is available here.
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August 21, 2023
Washington, DC, August 21, 2023. For Immediate Release. Luse Gorman, PC is pleased to announce that Brendan Clegg has joined the Washington, DC law firm as a partner. Mr. Clegg was most recently at Alston & Bird LLP. With his addition to the partnership, Luse Gorman builds upon its unparalleled experience in the financial services industry, expanding and deepening its capabilities in regulatory and enforcement matters.
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August 7, 2023
To our clients and friends:
The SEC recently approved amendments to Rule 10b5-1 regarding insider trading plans to revise the conditions that must be met for insiders to be able to use the 10b5-1 affirmative defense including, among other things, cooling-off periods, representations from plan participants and new periodic disclosure requirements for issuers and their insiders.
Our Alert regarding the new requirements is available here.
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July 27, 2023
To our clients and friends:
The SEC recently issued guidance regarding the compliance dates for the new periodic disclosure requirements for issuers with respect to Rule 10b5-1 insider trading plans.
Our Alert regarding the guidance is available here.
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July 13, 2023
Luse Gorman, PC is pleased to announce that we were the No. 1 legal advisor in the nation for bank mergers in the first half of 2023, based on both the number of transactions and deal value, as reported by S&P Global Market Intelligence. The firm’s merger transactions also included representing the buyer in the largest U.S. bank deal announced to date in 2023.
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