Venable attorneys produce periodic alerts and newsletters covering a variety of topics and practice areas. For your convenience, we have assembled below a collection of the latest alerts and newsletters from April 2016.
CFIUS 2014 Annual Report: Telling Trends for Your Next Cross-Border M&A Deal Involving a U.S.-Based Target
Attention Corporate Counsel: If you are contemplating a cross-border M&A transaction involving a U.S.-based target company, key trends discussed in the recently released 2014 Annual Report from the Committee on Foreign Investment in the United States (CFIUS or Committee) to Congress are worth your careful consideration. The report asserts that tabular data on the covered transactions, withdrawals, and presidential decisions "is not indicative of any discernible trends."
As practitioners regularly engaged in CFIUS cases, we respectfully assert that there are certain notable takeaways.
New Bank Charters More Possible Than Ever
The Federal Deposit Insurance Corporation (FDIC) recently issued a dramatic change in its standards for approval of applications for deposit insurance—marking the first meaningful change in years in the opportunity to obtain regulatory approval to establish de novo institutions.
Whether the change is meaningful will only be shown by events, of course, but the announced change in policy may be a remarkable development.
FinTech and Marketplace Lenders under Scrutiny
Recent announcements that the CFPB is taking consumer complaints on marketplace lenders and has established an office of small business lending means that lenders and service providers should prepare for the possibility of investigations and examinations in the not too distant future. At the same time, the FTC has announced a "Financial Technology Forum on Marketplace Lending" series to explore the growing world of marketplace lending and its implications for consumers.
These developments point to the potential for increased federal and state regulatory scrutiny of marketplace lending and their service providers. Continue reading for five tips for managing enforcement and compliance risk, along with several hyperlinks to relevant articles and presentations.
It was great seeing our colleagues at ACG InterGrowth in New Orleans. Thank you for attending our reception at Galatoire's on Bourbon Street. If we missed you, we look forward to seeing you soon.