United States: Finance and Banking

Federal banking agencies have issued revised model risk management guidance in SR 26-2, introducing a more explicitly risk-based approach to model governance, validation, and monitoring. While primarily targeting organizations with over $30 billion in assets, the principles-based framework has broader implications for regional and community banks navigating evolving regulatory expectations.

The transition from PSD2 to PSD3, accompanied by the directly applicable Payment Services Regulation, represents more than a legislative update, it reflects a strategic shift in the EU's approach to payments regulation.

Capital. It is first in the CAMELS (capital, assets, management capability, earnings, liquidity, and sensitivity) acronym and often first in many community bankers’ hearts. Its place of prominence within community...

The IRS and Treasury have released new proposed regulations under Section 892, revising applicability dates for previously proposed rules from 2025 that govern debt acquisitions and the "effective control" standard for foreign government investments. These revised dates include transition rules designed to protect existing and committed investments from the more stringent 2025 standards, while the preamble signals potential substantive changes to address market concerns.

The U.S. Treasury Department and IRS have issued new proposed regulations addressing transition relief and grandfathering provisions for foreign government investors under Section 892.

Debt Finance partner Raquel Smith joins hosts Laura Cicirelli and Eric Weiner to discuss venture debt facilities, unpacking key terms founders should understand including common red flags, covenants, and events of default. The conversation explores building strong relationships within the venture debt ecosystem and examines the broader risks, strategic considerations, and potential pitfalls associated with venture debt financings.

Transferring residential property to a limited liability company involves more than simple paperwork and requires careful consideration of multiple legal and financial implications.

Congress has passed legislation to reauthorize partial claims with VA-guaranteed home loans, providing relief options for veterans facing foreclosure. The VA has announced implementation timelines for servicers to integrate this program into their systems, with the program opening for submissions in mid-2026.

You have found a business you want to buy. The seller has an existing SBA loan with a solid interest rate, and the idea of simply stepping into their shoes — taking over the loan along with the business — sounds...

The SEC rescinded Rule 202.5(e), which had codified the SEC rule requiring settling parties to agree that they would not publicly deny the SEC’s allegations. The change brings the SEC in line with the majority of federal agencies, including the CFTC which announced a similar change in early June. New language reflecting the change is already appearing in SEC orders.

Today, scrutiny is no longer confined to public equities markets. In a pair of recent prosecutions, including last week’s indictment of a Google employee, the Department of Justice has made clear that it will pursue insider trading type cases wherever (i) confidential data moves prices, and (ii) a duty-bound actor exploits that data for trading advantage, even outside the securities laws. Prediction markets and crypto platforms appear to be the primary testing ground for this expanded enforcement theory

Federal banking agencies have issued revised model risk management guidance in SR 26-2, introducing a more explicitly risk-based approach to model governance, validation, and monitoring. While primarily targeting organizations with over $30 billion in assets, the principles-based framework has broader implications for regional and community banks navigating evolving regulatory expectations.