Trends in cross-border M&A deals, a change in standards for approval of bank charters, and more in this issue of Business News Digest

3 min

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.

Additional Articles:

D.C. Circuit Casts Doubt on CFPB's First Appeal Decision and Order: Oral Argument in PHH Corp. v. CFPB

FDA Tells Shippers to Keep It Clean (When It Comes to Food)

House Appropriations Committee Approves New E-cigarette "Grandfather Date"; Currently Marketed Products Would Be Spared

NCUA Approves Proposed Rule on Executive Compensation

New California Harassment and Discrimination Policy Requirements Effective April 1, 2016

New York State Passes Groundbreaking Minimum Wage and Paid Family Leave Laws

Oral Argument Suggests Supreme Court Will Uphold Implied Certification Theory of Liability

This Just In: New York City Council Approves East New York Rezoning and Affordable Housing Plan

Unique Device Identification Compliance Deadline for Class II Devices Fast Approaching

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.