MVA White Collar Defense, Investigations, and Regulatory Advice Blog

On April 5, 2021 the Consumer Financial Protection Bureau (CFPB) published a proposed rule entitled Protections for Borrowers Affected by the COVID-19 Emergency Under the Real Estate Settlement Procedures Act (RESPA), Regulation X. The proposed amendments to Regulation X are aimed to ensure that the approximately 2.5 million borrowers still in forbearance programs will not be ushered immediately into foreclosure when their respective COVID-related forbearance ends. 

The proposed amendments, which apply only to mortgage loans secured by principal residences, contemplate a ...

Moore & Van Allen (MVA) Litigation Member Jim McLoughlin and Financial Regulatory Advice & Response Member Neil Bloomfield‘s article titled, “3rd Circuit panel raises the bar on risk disclosures as the trend toward greater disclosure continues” was published by Westlaw on March 30, 2021.

The Article

It had been an article of faith in the securities legal community that a registrant has no obligation to disclose possible wrongdoing or a government investigation into its conduct absent some statement that would be rendered misleading without such a disclosure.

However, in ...

Summary

Last Friday, the IBA published its Feedback Statement on Consultation on Potential Cessation.

The relevant dates regarding cessation are the same in the November request for comment – i.e., all LIBOR settings will either cease to be provided by any administrator or no longer be representative:

• immediately after 31 December 2021, in the case of all sterling, euro, Swiss franc and Japanese yen settings, and the 1-week and 2-month US dollar settings; and,
• immediately after 30 June 2023, in the case of the remaining US dollar settings.

Canada has designated the Proud Boys as a terrorist entity, meaning that banks and other financial services providers will no longer be allowed to deal with or facilitate transactions concerning property controlled by the group. The restrictions will apply to U.S. financial institutions in their activities within Canada and will extend to cover the activities of Canadian institutions outside of Canada.

Moore & Van Allen (MVA) Senior Counsel Tandy Mathis will be presenting during the NCBAR 2021 International Practice Section Program webcast, “The World Spins Madly On: Making Sense of the Current State of International Law Practicing International Law in the Digital Age,” taking place on March 25. Tandy will present on the session titled, “Practicing International Law in the Digital Age.”

This session concentrates on e-discovery, privacy, and security issues unique to international law practitioners. Explore how these issues and digital solutions are continuing to ...

MVA Financial Regulatory Advice and Response Member Barbara Meeks and Associate Jules Carter will serve as panelists for the Lorman webinar titled, “BSA/AML Customer Identification Program and Due Diligence Basics” which will take place on March 11.

This webinar will provide an overview of BSA/AML/Know Your Customer (KYC) components,  including the Customer Identification Program (CIP) and beneficial owner Customer Due Diligence (CDD) Rules. They will cover key definitions and procedural issues for compliance and highlight areas of risk for enhanced due ...

MVA Financial Services Member Lauren Biek, Co-head of Financial Regulatory Advice and Response Neil Bloomfield, and Financial Services Counsel Ed Ivey will serve as panelists during the NCBA: The Business Lawyer as First Responder, 2021 Business Law Section Program. This live webcast will take place on February 11. Additionally, Financial Services Member Kimberly Zirkle serves on the planning committee for the Business Law Section program.
 
The panel titled, “SOFR, So Good? Current Issues in Credit Agreements” will highlight the differences in approach ...

Moore & Van Allen (MVA) Co-head of the White Collar, Regulatory Defense & Investigations practice and member of the firm’s Management Committee, Valecia McDowell has been highlighted in the Business North Carolina article titled, “Dynamic Diversity: The Changing Look of N.C. Executive Power,” published on February 1. The article also mentions area CEOs Marvin Ellison of Lowe’s and Gene Woods of Atrium Health.
 
To view the complete Business North Carolina article, please click here.

Moore & Van Allen (MVA) Co-head of the White Collar, Regulatory Defense and Investigations practice and a member of the firm’s Management Committee, Valecia McDowell, will be teaching the LAW 832 - Internal Investigations course during the winter session for Duke Law on February 19 - 21.
 
During this course, students will study the range of legal and practical issues in the conduct of in-house investigations of potential illegal conduct by corporate employees and officers. Students will participate in simulated exercises involving interviews of company employees in the ...

Moore & Van Allen (MVA) Financial Regulatory Advice and Response Member Ed O’Keefe will serve as the moderator for the panel titled, “Long-Term Effects of COVID-19 on Bank Health” during the Banking Institute Program which will take place March 18-19. Ed’s panel includes senior representatives of the OCC, Federal Reserve, NC Department of Banking and the Bank Policy Institute.

This year's Institute agenda also includes panels on: 

• The Current State of the LIBOR Transition
• Diversity and Inclusion: A Business Imperative
• Bank Partnerships with FinTech Firms

And ...