Covid-19 Thought Leadership & Analysis

"TCPA relief for Covid-19 communications could extend to financial institutions" by Ali M. Abugheida and Geoffrey L. Warner (Bloomberg Law)

Financial institutions face unprecedented and rapidly evolving challenges in the wake of the Covid-19 pandemic, including the need to communicate quickly and efficiently with customers in the face of government-issued stay-at-home orders. But the Telephone Consumer Protection Act, with its steep...

Ali M. Abugheida, Geoffrey L. Warner

Jeffrey P. Naimon quoted in American Banker article, “As Democrats urge pause in bank rules, GOP says hurry up”

Jeffrey P. Naimon was quoted on May 27, 2020 in an American Banker article, “As Democrats urge pause in bank rules, GOP says hurry up,” which discussed the differing party views on bank regulation amid the upcoming election. Naimon noted, “This happens in the run-up to any election because...

"CARES Act puts inspectors general back in the spotlight" by Daniel R. Alonso, Preston Burton, and Meredith Leeson (New York Law Journal)

Federal Inspectors General—the nation’s watchdogs over government agencies and government programs—are back in the news. First, the Coronavirus Aid, Relief, and Economic Security Act , received close attention not only for its $2 trillion infusion of taxpayer dollars into the U.S. economy, but also...

Daniel R. Alonso, Preston Burton, Meredith Leeson

"Battle over business interruption coverage already underway" by Fredrick S. Levin, Michael A. Rome, Ali M. Abugheida, and Eric Chiang (Law360)

Businesses across the country are reviewing their insurance policies to assess whether they have valid claims against losses suffered as a result of the COVID-19 pandemic and related government shutdown directives. Two types of insurance coverage are particularly relevant: business interruption...

Fredrick S. Levin, Michael A. Rome, Ali M. Abugheida, Eric Chiang

Daniel P. Stipano extensively quoted in American Banker article, “Will coronavirus hasten arrival of fully remote bank exams?”

Daniel P. Stipano was extensively quoted on May 1, 2020 in an American Banker article, “Will coronavirus hasten arrival of fully remote bank exams?” which discussed the transition to a remote work environment during the coronavirus pandemic, and how it will effect bank examinations. Stipano said, “...

"CRA reform plan is suddenly outdated" by Warren W. Traiger (American Banker)

Bank regulators were in the process of reshaping a 43-year-old community lending law when the coronavirus pandemic hit, prompting calls from bankers and community advocates alike to suspend rulemaking and revealing how inflexible the proposal could be amid a crisis. Even absent current economic...

Warren W. Traiger

"SEC flexes regulatory and enforcement muscles in pandemic markets" by Thomas A. Sporkin and Timothy J. Coley

The Securities and Exchange Commission is sticking to its three-fold mission of protecting investors, maintaining fair and orderly markets, and encouraging capital formation as it responds to the Covid-19 pandemic by issuing regulatory guidance on crisis-relevant market and capital issues,...

Clinton R. Rockwell interviewed in California Mortgage Bankers Association podcast

This podcast from the California Mortgage Bankers Association features an interview with Clinton R. Rockwell on a variety of topics surrounding the mortgage industry, including how Covid-19 is impacting the mortgage industry. Rockwell noted, “A lot of the guidance is solving a specific problem, or...

"Navigating digitized mortgage processes during Covid-19" by Valerie L. Hletko and Edward W. Somers (Law360)

The risks presented by the coronavirus pandemic have forced innovation in executing consumer contracts — and fast. Not least affected is the mortgage industry, which typically relies on in-person interactions for document execution to satisfy legal requirements and investor guidelines. Office...

Valerie L. Hletko, Edward W. Somers

Special Alert: Regulators provide important guidance on next wave of PPP funding

President Trump on April 24 signed the Paycheck Protection Program and Health Care Enhancement Act, adding $310 billion in funding to the $350 billion initially appropriated to the program under the Coronavirus Aid, Relief, and Economic Security Act. The Federal Reserve Board, Treasury Department,...