With attorneys and staff worldwide, Bryan Cave attorneys are often quoted in the news. Recent Media Mentions of Financial Institutions Group attorneys include:
Achenbach in American Banker
Ken Achenbach was quoted in a July 2 article in American Banker regarding the decline in FDIC Loss-Sharing Deals for failed-bank buyers as the economy improves. Achenbach said “If the FDIC loss share backstop is there, it certainly mitigates the risks involved in taking the portfolio . . . Given the limited amount of diligence you’re able to do in these deals, and particularly earlier in the economic cycle where there was much more price uncertainty in the real estate markets, people actively wanted that safety net. Over time, however, bidders may be becoming more comfortable with asset pricing and may be assigning less value to the protections of loss-sharing. In addition, the FDIC is now encouraging banks that are comfortable doing so to make non-loss share bids.”
Hightower in Bank Safety & Soundness Advisor
Jonathan Hightower was quoted July 2 by the Bank Safety & Soundness Advisor concerning new Basel III capital rules, and how community bankers might need to prepare for the changes sooner rather than later. Hightower said the new rules probably won’t change acquisition, development and construction (ADC) lending behavior now, when so few banks are making ADC loans. But he said it will impact future lending plans. “Where you’ll really see a difference is when the market comes back and banks get more comfortable thinking about reentering this market,” he said. “there are lenders out there who know the business and have done this kind of lending for a long time. But now, unless those loans meet some focused requirements, they’ll be subject to those higher risk weights.”
Bryan Cave is a proud sponsor and speaker for the 2012 NBPCA Annual Congress, the Power of Prepaid.
The Power of Prepaid
June 3-6, 2012
Gaylord National Hotel & Conference Center
Washington, D.C.
Bryan Cave Partner Judith Rinearson will be speaking on a panel on the second day about Scaling for Growth: Keeping up to Date and up to Speed as your Portfolio Grows in Size and Scope.
With offices all over the world, Bryan Cave attorneys are often quoted in the news. Recent Media Mentions of Financial Institutions Group attorneys include:
Blanchard in GBA Bulletin
Atlanta Partners Jerry Blanchard, Nicole Wade and Associate Wendy Godfrey were highlighted in the December 16, 2011 Georgia Bankers Association (GBA) e-bulletin for their participation in a recent panel discussion at the 2011 GBA Credit Conference, held in Atlanta, Ga. The forum focused on current developments in foreclosure and problem loan collections in Georgia. Participants at the conference included senior lenders from around the state. Click here to read more about the discussion in the GBA e-bulletin.
Rinearson in Forbes, Wall Street Journal Online
New York Partner Judith Rinearson was quoted January 5 by Forbes online and January 6 by The Wall Street Journal online regarding the controversial appointment of Richard Cordray to head the new U.S. Consumer Financial Protection Bureau (CFPB). Cordray, a former Ohio attorney general, was President Barack Obama’s pick to head the CFPB, a watchdog group created by last year’s financial law. But for months, Senate Republicans had refused to confirm him — or anyone — to the post. Obama used his executive constitutional power to appoint Cordray while Congress was in recess. The Senate GOP says the chamber was not fully in recess, and that Obama had no right to push through a “recess” appointment. One interesting aspect of the appointment is how it will impact non-banks. “It’s generally acknowledged that the CFPB has power to oversee banks but what’s interesting is what this oversight means for nonbanks,” Rinearson told Forbes. Click here to read the full piece.
Bryan Cave is pleased to once again serve as a sponsor of 16th Annual Southeastern Bank Management & Directors Conference, hosted by UGA’s Terry College of Business on February 9, 2012. The conference’s theme for this year is “Banks & Emerging Retail Payments Systems: Opportunity or Threat?” and this year’s keynote speaker will be E. Robinson McCraw, CEO and Chairman of Renasant Bank.
Topics will include Regulations in Payment Systems, Monetizing Payments and Non-Lending Activities, the Retail Landscape, Getting Management and Your Board to think about Payments, and Evolving Accounting Standards and Compensation Policies. Download the conference agenda or information sheet.
The long-term impact of payment systems on community banks remains unpredictable, but one fact is indisputable – change is coming and banks need to be nimble, embrace technology and understand their customers’ preferences if they want to thrive in the new environment. This conference addresses an approach to extending the vitality of your bank.
With offices all over the world, Bryan Cave attorneys are often quoted in the news. Recent Media Mentions of Financial Institutions Group attorneys include:
McAlpin on BankDirector.com
Atlanta Partner Jim McAlpin authored the first in a series of articles concerning best practices of bank boards Oct. 25 for BankDirector.com. McAlpin said “there has never been a greater need for well-functioning, informed and courageous boards of directors of banks and bank holding companies. There has also never been a more important time for board members to keep in mind that their responsibilities can be boiled down into one simple goal: the creation of sustainable long-term value for shareholders.” This also was the lead article in the BankDirector November e-mail newsletter. Click here to read the full text. The second installment in the series will be published by BankDirector in early December.
Moeling in American Banker, Atlanta Journal-Constitution
Atlanta Partner Walt Moeling was quoted at length Nov. 17 by American Banker regarding the new perception businesspeople have toward serving on a bank board. “Most of them joined because it is one of the great clubs in an area and there is an opportunity to help people in your community. But after four years of foreclosing on your neighbors, watching your friends lose their jobs and seeing your investment lose its value, you’re done,” said Moeling, adding that banks still can find local people to serve, but those directors will have to be prepared to roll up their sleeves a lot. “The compliance burden is huge. Regulators are going to expect directors to be on top of things. The meetings will be longer and more detailed. It will be a lot more demanding than it ever was in the past and it is not going to be as much fun.” He also was quoted Nov. 7 in The Atlanta Journal-Constitution concerning the reasons for the failure of Decatur First Bank in Decatur, Ga. The bank’s quest for growth (it opened subsidiary banks in the mid-2000s in the once-booming Lake Oconee area, about 80 miles east of Atlanta) provided a windfall for a few years until the housing market crashed.
ReVeal on BankDirector.com
DC Counsel John ReVeal was interviewed for two videos now being used on the BankDirector.com Web site. One video focuses on the Bank Secrecy Act (BSA) and how violations are perceived today by regulators. The other, which outlines what a bank board should know about BSA, has become the group’s official training piece concerning BSA and is located in a password-protected section. Click here to view ReVeal’s video on BSA and regulators.
Final interchange regulations under the Durbin Amendment of the Dodd Frank Act will go into effect October 1, changing the rules for interchange transaction fees. The Bryan Cave Payments team will present a live webinar and Q&A session on Tuesday, August 2, 2011 from 2:00 to 3:00 pm EDT explaining what the new interchange and routing rules mean for the prepaid industry and how to comply.
The Durbin Amendment:
What Does the Final Ruling Mean for Prepaid?
You can register for free online. Attendees are encouraged to submit in advance and without attribution, any questions they would like addressed during the webinar. Please enter your questions when you register.
The Webinar will be presented by Judie Rinearson (Bryan Cave – New York), Linda Odom (Bryan Cave – Washington, D.C.) and Courtney Stolz (Bryan Cave – Washington, D.C.).
CLE credit for this webinar will be available for attendees in California, Georgia, Illinois, New York and Virginia.
With attorneys and staff worldwide, Bryan Cave often makes the news. Recent media mentions of attorneys in the Financial Institutions group include:
Walt Moeling in American Banker
Atlanta Partner Walt Moeling was quoted July 5 by American Banker regarding the recent drop in bank consent orders, formerly called cease-and-desist orders. Since the beginning of 2008, the Federal Deposit Insurance Corp. has issued 851 consent orders. The issuances peaked in November 2009, when the FDIC issued 51 consent orders. In May, just 10 banks entered into consent orders with the FDIC. “At this point, these banks should be getting a “Hallelujah” instead of a consent order,” Moeling said. “These are the survivors that are making it in a lousy market. It isn’t a reflection of the board’s performance, it’s a reflection of the market.” Click here to read the full article.
Judie Rinearson in PaybeforeLegal
New York Partner Judith Rinearson authored an article for the July edition of Paybefore Legal regarding key provisions of the Durbin Amendment to the Dodd-Frank Act. The Federal Reserve Board issued its much-anticipated final rule implementing the amendment on June 29. “And now the real work begins for the industry and its participants “changing programs, business models, disclosures, contracts and more to bring thousands of affected programs into compliance,” she wrote. “But before you can dig in, you need to know if your organization and its prepaid programs are covered by the Fed’s final rule. And if they are, what that means.” Rinearson’s article poses 13 questions to help clients identify whether their prepaid card program is eligible for the interchange exemption, fraud prevention adjustment and routing or exclusivity exemptions. Click here to read the article.
With attorneys and staff worldwide, Bryan Cave often makes the news. Recent media mentions of attorneys in the Financial Institutions group include:
Andreassen on Moneylaundering.com
DC Associate Kristine Andreassen was quoted June 7 by Moneylaundering.com regarding a report from the U.S. Senate Caucus on International Narcotics Control in which lawmakers criticize the U.S. Treasury Department for failing to adequately implement a portion of the Credit CARD Act of 2009. The lack of regulations governing the cross-border transportation of prepaid access products has hamstrung American efforts to combat Mexican drug-trafficking organizations, according to lawmakers. Andreassen said that the Financial Crimes Enforcement Network (FinCEN) ultimately must decide whether to require individuals carrying prepaid access devices to declare the actual or potential maximum value the products have before crossing the border. “One of the issues FinCEN has to account for is cards that cross the border empty, and are then reloaded on the other side,” she said.
Moeling in Atlanta Journal-Constitution, Bank Investment Consultant
Atlanta Partner Walt Moeling was quoted May 27 in The Atlanta Journal-Constitution regarding Georgia Rep. Greg Morris, who has been fined $5,000 by federal bank regulators after he made overdrafts not allowed because of his role as a bank director. Moeling said it’s a relatively minor violation. “Director overdrafts seldom impose any threat to the safety and soundness of a bank,” he said. “Nonetheless they are clear violations and the regulators will act when they find repeat offenders.” He also was quoted May 25 by Bank Investment Consultant regarding a growing group of acquisition-minded community banks, for whom fee-based businesses are looking like a more attractive way to bolster revenue than are traditional bank deals.
Rinearson in Franchise Law News
New York Partner Judith Rinearson authored an article in the current edition of Franchise Law News with tips on how to avoid the legal traps of promotional certificates. A spate of class-action lawsuits claim that the short expiration dates popular with “Groupon-like” gift certificate programs violate applicable laws. “Just because you are compliant with federal law, don’t think you are off the hook,” she cautioned. “With care in structuring these programs, and with good, clear disclosures in all marketing materials, these Groupon-like gift certificate programs can be a true win-win for both consumers and retailers.”
With attorneys and staff worldwide, Bryan Cave attorneys often make the news. Sometimes media mentions highlight the firm’s involvement with notable clients, sometimes the individual accomplishments of attorneys and staff. Recent media mentions of attorneys in the financial institutions practice include:
Klingler in American Banker
Atlanta Associate Robert Klingler was quoted Aug. 4 by American Banker regarding the charges against Rep. Maxine Waters, and whether those charges might be of use to banks denied TARP funds. An ethics panel report alleges Waters may have broken rules when she helped a trade group arrange a meeting between then-Treasury Secretary Henry Paulson and executives of OneUnited Bank, an institution with financial ties to her husband and huge losses from the takeovers of Fannie Mae and Freddie Mac. Klingler said the government had a uniform standard for deciding TARP investments – essentially awarding funds to institutions that could prove their viability – and no one ever expected the system to be perfect. “We understand that the process will sometimes result in wrong outcomes,” he said, adding that those who believe they were treated unfairly could use the Waters investigation for “rhetoric” at best. “I don’t know that it is rhetoric that necessarily the public is happy with. Generally, the public is opposed to TARP. So hearing a bank whine about not getting TARP isn’t going to get the American public riled up.”
Moeling in National, Regional Publications
Atlanta Partner Walt Moeling was quoted in the August edition of US Banker on the moves being made by community banks to boost their capital ratios. “In this kind of market, the most successful banks that deal with their problems don’t just take one approach, they pull out the playbook,” Moeling said. “My most successful clients have cut expenses, sold branches, consolidated charters, disposed of nonbank activities.” Click here to read the full article. Moeling was quoted Aug. 10 by American Banker (reprinted by Bank Investment Consultant online) concerning a push of stock offerings expected this fall from community banks, particularly via private placements rather than public offerings. Click here to read the article. In addition, he was quoted Aug. 2 in The Atlanta Journal-Constitution regarding JPMorgan Chase & Co., which plans to open 10 new bank branches across the northern metro Atlanta area by the end of the year. Eight currently are under construction. Click here to read the article.
Recent media mentions of attorneys in Bryan Cave’s financial institutions practice include:
Atkinson in Virginian-Pilot
Charlotte Partner B.T. Atkinson was quoted June 7 by The Virginian-Pilot in Norfolk, Va., concerning private-equity firms that are investing in troubled banks. Hampton Road Bancshares, parent company of Hampton Road Bank and Shore Bank, recently announced that private equity firms will invest in the company. Click here to read the article.
Hester in American Banker
Atlanta Associate Barry Hester was quoted June 10 by American Banker on a controversial provision of the financial reform bill that would tighten capital restrictions on many banks, including those still participating in the government’s TARP bailout program. “It will immediately result in undercapitalization for a number of banks,” Hester said. “It would be like flipping the switch, where banks that are currently OK would suddenly need to raise more capital. It could be a disaster if it isn’t phased in to let people plan ahead.”
Klingler on thestreet.com, bailoutsleuth.com
Atlanta Associate Robert Klingler was quoted June 4 by thestreet.com regarding bank capital standards. Click here to read the article. He also was quoted that same day by bailoutsleuth.com on the Small Business Lending Fund, which is designed to inject $30 billion into small banks – defined as those with less than $10 billion in assets – with the idea that they will in turn lend money to small businesses.