During the past few months we have pointed out the latest trends and legal analysis affecting the financial services platform. The four trends that are affecting profitability are regulatory, the Dodd-Frank Act and the establishment of the Consumer Financial Protection Board (“CFPB”). The CFPB has been plagued by delays in rule-making and by confusing and sometimes conflicting mandates in other federal law. The JOBS Act, recently signed into law will create changes in private placements and initial public offerings, with the SEC charged with appropriate rule making. The next trend relates to the residual failure of banks and the lack of clear direction as to how the defaulted portfolio of commercial real estate loans will be affected. The third trend is that as banks and financial services platforms look to increase profitability, the issue of overcharges on consumer fees is of regulatory concern. Finally, some of the large investment and money-center banks are still experiencing challenges which affect share price and potential investor and depositor suits. Since the current challenges are “regulatory, compliance and litigation oriented”, we strive to act as your advisor, confidant and friend in helping you to work through the maze of new regulation, overcharges of fees, compliance plans for third-party processors and workouts and commercial litigation. Please call me and I will be happy to audit your current loan documents, a potential litigation matter or a compliance issue.
Educational Programs are also invaluable at this time of regulatory change. As Vice-Chair of the OCBA Banking and Lending Section, the Section will be presenting a seminar this October on recent trends in Banking and Lending Law. As moderator, I am responsible for planning the program content. Please feel free to contact me with any topics that might be of interest to you or your institution.