Vedder Price PC

Vedder Price and our 300-plus lawyers serve a global client base from offices in Chicago, New York, Washington, DC, London, San Francisco, Los Angeles and Singapore. We deliver high-value, best-in-class legal counsel in the areas of M&A/private equity, banking and commercial finance, complex litigation, executive compensation, employment law, investment management and other business-critical corporate matters.

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The 21st Century Banker

PPP Update: SBA Issues Guidance on M&A Transactions

By Michael A. Nemeroff, Mark C. Svalina & Kareem Ratani

October 5, 2020

On October 2, 2020, the Small Business Administration (the “SBA”) issued a procedural notice (the “Notice”) detailing the requirements for an entity (a “PPP Borrower”) that received a Paycheck Protection Program (“PPP”) loan (“PPP Loan”) to enter into a change of ownership/sale transaction without defaulting on such loan. The Notice provides much needed guidance, particularly in light of months of delays in the PPP Loan forgiveness process. A brief summary of the Notice’s requirements is…

Media & Privacy Risk Report

TCPA Turnstile: No summer vacation for the TCPA defense bar (TCPA Case Update Vol. 13)

By Blaine C. Kimrey & Bryan K. Clark

September 28, 2020

Many had hoped that the summer of 2020 might bring the end of the TCPA as we know it, by way of the Supreme Court’s decision in Barr v. American Association of Political Consultants. Of course, that’s not how things played out. The government-backed debt exception is dead, but the rest of the TCPA is still very much alive. And while the pace of litigation has slowed because of the ongoing COVID-19 pandemic, TCPA…

Media & Privacy Risk Report

What do the final CCPA regulations mean for you?

By Cecilia Jeong

September 10, 2020

Last month, the California Attorney General approved the final set of regulations interpreting the requirements of the California Consumer Privacy Act (Cal. Civ. Code Sections 1798.100 et seq.) (the “CCPA”). What does it include? The final CCPA regulations include a number of points of clarification such as what it means to provide “notice at collection,” the methods to provide a consumer with access to a business’s privacy policy and what content is required to be…

The 21st Century Banker

OCC Proposal Would Bring Certainty to the Identity of the “True Lender”

By James M. Kane, James W. Morrissey, Daniel C. McKay, II, Jennifer Durham King, Juan M. Arciniegas & Mark C. Svalina

July 21, 2020

Markets like certainty. On July 20, 2020, the Office of the Comptroller of the Currency (the “OCC”) proposed a new rule for national banks and federal savings associations that would solve the “true lender” question and help bring certainty to financial markets. Under the proposed rule, a bank will be deemed the “true lender” in a bank partnership model if it is either (i) the named lender in the underlying loan agreement or (ii) the party that…

The 21st Century Banker

UPDATE: U.S. House of Representatives Seeks to Amend the CARES Act to Provide Borrower’s Relief under the PPP

By James M. Kane, James W. Morrissey, Daniel C. McKay, II, Jennifer Durham King, Juan M. Arciniegas & Mark C. Svalina

May 29, 2020

On May 28, 2020, the U.S. House of Representatives passed legislation that, if adopted by the Senate and signed into law by the President, would provide considerable relief to borrowers under the Paycheck Protection Program (PPP). The bill, known as the Paycheck Protection Program Flexibility Act of 2020 (PPPFA), amends the original Coronavirus Aid, Relief, and Economic Security (CARES) Act to loosen restrictions placed on PPP loans, making them more favorable for borrowers.…

The 21st Century Banker

SBA Announces Procedure for PPP Lenders to Collect Loan Processing Fees

By James M. Kane, James W. Morrissey, Daniel C. McKay, II, Jennifer Durham King, Juan M. Arciniegas & Mark C. Svalina

May 22, 2020

On May 21, 2020, the U.S. Small Business Administration (“SBA”) released a notice informing lenders of how they may collect loan processing fees for eligible loans issued under the Paycheck Protection Program (“PPP”). Pursuant to the CARES Act and the Interim Rule, issued by the SBA on April 2, 2020, the SBA will pay fees to lenders for processing eligible PPP loans at the following rates, based on the balance of the loan outstanding at…

Media & Privacy Risk Report

TCPA Turnstile: As we wait for a ruling in Barr, new case law abounds (TCPA Case Update Vol. 12)

By Blaine C. Kimrey & Bryan K. Clark

May 21, 2020

Undoubtedly, the biggest TCPA development in the last month was the recent Supreme Court oral argument in Barr v. American Association of Political Consultants Inc., Case No. 19-631, which has the potential to upend TCPA jurisprudence as we know it. While we wait for a Supreme Court decision, the oral argument made a few things clear:…

Media & Privacy Risk Report

Zooming into New Privacy Issues

By Blaine C. Kimrey & Bryan K. Clark

April 28, 2020

“Should we do a Zoom?” It has taken little more than a month for the Zoom video conference platform to take its place among the likes of Google, Kleenex and Xerox as brand names synonymous with the product or service being offered. But with that name recognition comes scrutiny, and Zoom is getting plenty. The privacy and security issues associated with Zoom have been well-documented. As a result, Zoom is now facing class action lawsuits…

The 21st Century Banker

Paycheck Protection Program Loans May Be Excluded from a Bank’s Regulatory Capital Ratios

By James M. Kane, Daniel C. McKay, II, James W. Morrissey, Jennifer Durham King, Juan M. Arciniegas & Mark C. Svalina

April 9, 2020

On April 9, 2020, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System (the “Federal Reserve”), and the Office of the Comptroller of the Currency (collectively, the “federal banking agencies”) issued an interim rule that permits banks to neutralize the regulatory capital effects of participating in the Federal Reserve’s Paycheck Protection Program Lending Facility (the “PPPL Facility”).…

The 21st Century Banker

Temporary Regulatory Relief: Community Bank Leverage Ratio Set At 8%

By James M. Kane, Daniel C. McKay, II, James W. Morrissey, Jennifer Durham King, Juan M. Arciniegas & Mark C. Svalina

April 7, 2020

On April 6, 2020, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System (collectively, the “federal banking agencies”) announced the issuance of two interim final rules to provide temporary relief to community banks. The federal banking agencies acted to implement Section 4012 of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which requires the federal banking agencies to…

Vedder Price PC

Vedder Price PC Blogs

Blog Authors

PPP Update: SBA Issues Guidance on M&A Transactions

TCPA Turnstile: No summer vacation for the TCPA defense bar (TCPA Case Update Vol. 13)

What do the final CCPA regulations mean for you?

OCC Proposal Would Bring Certainty to the Identity of the “True Lender”

UPDATE: U.S. House of Representatives Seeks to Amend the CARES Act to Provide Borrower’s Relief under the PPP

SBA Announces Procedure for PPP Lenders to Collect Loan Processing Fees

TCPA Turnstile: As we wait for a ruling in Barr, new case law abounds (TCPA Case Update Vol. 12)

Zooming into New Privacy Issues

Paycheck Protection Program Loans May Be Excluded from a Bank’s Regulatory Capital Ratios

Temporary Regulatory Relief: Community Bank Leverage Ratio Set At 8%

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