FASB Finalizes Guidance on LIBOR Reference Rate Reform Transition


FASB has issued an Accounting Standards Update (ASU) that provides temporary optional guidance to ease the potential burden in accounting for reference rate reform.  Reference rate reform is the process of migrating away from LIBOR and other interbank offered rates to new reference rates. FASB stakeholders raised certain operational challenges... Read More

Topics: Banking, Public Companies and Securities

“True Lender” Litigation on the Rise: Recent Litigation and Enforcement Actions Challenge Traditional Bank Partnership Model


Over the last two years the financial industry has seen an uptick in litigation and enforcement actions aimed at banks and their non-bank lending partners. These actions have primarily challenged the validity of the bank partnership model that is used by many non-bank lenders to generate consumer and small dollar... Read More

Topics: Banking, Consumer Protection, Litigation

Trump Administration Plan for Financial Regulation Includes Reducing Regulatory Compliance Activities for Bank Boards


The U.S. Department of the Treasury today issued its first in a series of reports to President Donald J. Trump examining the United States’ financial regulatory system. Appendix B to the report includes 16 pages of detailed recommendations, noting which actions do not require further legislation. The action is not... Read More

Topics: Banking, Trump