The Federal Deposit Insurance Corporation (FDIC) released a Proposed Statement of Policy on Bank Merger Transactions (the Proposal) that outlines the FDIC’s views on its jurisdiction and expectations with respect to each statutory factor under the Bank Merger Act (BMA).
The CLS Blue Sky Blog
Latest from The CLS Blue Sky Blog
Biased Boards
How do directors add value to corporations, and what are their incentives? They add value through monitoring and advising management – although monitoring seems to have taken precedence in the wake of high-profile financial scandals. As for directors’ incentives, the…
Digital Bank Holidays: Buying Time in a Financial Emergency
It has been a year since Silicon Valley Bank failed, and one of the major policy questions that emerged – what to do about deposit insurance? – remains unresolved. Banking is an industry that needs public confidence to function, and…
Skadden Discusses Lender Compliance With CFPB’s Small Business Rule
Despite facing challenges both from Congress and in court, the Consumer Financial Protection Bureau’s (CFPB’s) “Small Business Lending Under the Equal Credit Opportunity Act (Regulation B)” (Small Business Rule) is likely here to stay.
In December 2023, President Biden vetoed…
Davis Polk Discusses IRS Guidance on Tax-Exempts’ Claims for Renewable Energy Credits
The Inflation Reduction Act of 2022 (IRA) allows so-called “applicable entities” to elect to treat certain renewable energy tax credits as payments of federal income tax, generating a refund payment from the IRS (refundable tax credits or elective payment). Applicable…
How Technology Investment Drives Community Bank Consolidation
From 2011 to 2019, the number of bank charters fell by nearly one-third, from 7,357 to 5,177, with community banks accounting for three-quarters of this decline (FDIC Community Bank Report, 2020) In a new paper, we presents compelling…
Death by a Thousand Cuts: The Hostile Bids Regime in Europe, 2004-2023
In 2004, the European Union (EU) adopted the Takeover Directive, a framework statute aimed at regulating corporate control transactions and takeover bids targeting EU listed issuers. The Directive, amidst aspirations of fostering a unified market for corporate control and ensuring…
SEC Chair Speaks on Mandatory Disclosure at Conference Honoring John C. Coffee, Jr.
Today, Columbia is honoring Jack Coffee, a leader of securities law scholarship and policy. I hope Columbia one day might invite me back to celebrate your career, Professor Fox. Caveat inviter, though, at the SEC, we are Merritt neutral. As…
Ropes & Gray Discusses Fifth Circuit Stay of SEC Climate Rules
On March 15, the U.S. Court of Appeals for the Fifth Circuit granted an administrative stay of the SEC’s climate disclosure rules, which were adopted on March 6. The rules are discussed in our earlier post here.
The 20-word…
How Directors’ Liability Protection Can Affect the Quality of Company Projects
Corporate executives are responsible for seeking and acting on business opportunities and investment initiatives (often called company “projects”). However, there is a danger that they will take on too many projects, which diminishes the overall quality of projects presented for…