September 19, 2022
To our clients and friends:
The Board of Governors of the Federal Reserve System has proposed regulations to implement the Adjustable Interest Rate Act (the “LIBOR Act”). The LIBOR Act and the Federal Reserve’s proposed implementing regulations are intended to address the discontinuation of the USD LIBOR benchmarks on June 30, 2023, by establishing a SOFR-based replacement benchmark that will automatically apply to agreements that rely on LIBOR and do not have a contractual non-LIBOR-based fallback benchmark.
Our newsletter, which summarizes the key provisions of the proposed regulations, is available here.
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June 17, 2020
To our clients and friends:
On June 11, 2020, the U.S. Small Business Administration (“SBA”) issued an interim final rule (the “Interim Final Rule”) implementing the changes made to the SBA’s Paycheck Protection Program (the “PPP”) by the Paycheck Protection Program Flexibility Act of 2020 (the “PPP Flexibility Act”). The PPP Flexibility Act changed many aspects of the PPP; most significantly extending the covered period for loan forgiveness purposes, lowering the amount required to be spent on payroll costs, extending the loan term to maturity period and revising the loan deferral period.
Our Alert summarizes key provisions of the Interim Final Rule and is available here.
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July 18, 2018
Luse Gorman is proud to co-host the 2018 Bank Leadership and Profitability Improvement Conference on August 23-24 at the Ritz-Carlton, Washington, D.C. Our Co-Hosts are Crowe and KBW/Stifel Financial.
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October 19, 2017
Luse Gorman, PC was the top legal advisor for merger and acquisition transactions, based on number of deals, for banks and thrifts during the nine months ended September 30, 2017, having served as legal counsel on 14 transactions announced during this period.
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July 20, 2015
Mr. Brown was formerly a partner in the Washington, D.C. office of the law firm of Kilpatrick Townsend & Stockton LLP.
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