Foley Partners Matthew Breuer and David Cook authored an article titled “FDIC Adopts Rules to Attract Private Equity Purchasers of Failed Banks” in the September 21, 2009 issue of Real Estate Finance & Investment. The authors discuss the new rules created by the Federal Deposit Insurance Corp. in order to encourage private equity firms to buy failed banks, noting that the FDIC is looking for non-bank investors to help defray the costs related to bank failures. They add that the FDIC’s willingness to adopt weaker private equity investment rules could spell opportunity for investors who are willing to operate by the new rules.
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10 May 2024
Legal News: Environmental
AIM Act Update: Certified Audit for Recipients of Specific Allocations Due May 31, 2024
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10 May 2024
Consumer Class Defense Counsel
CFPB Announces Proposed Rule Regarding Nonsufficient Funds Fees
On Wednesday, January 24, 2024, the Consumer Financial Protection Bureau announced a Proposed Rule aimed at blocking nonsufficient funds fees on debit card, ATM, and certain peer-to-peer payment transactions that financial institutions decline in real time.
10 May 2024
Consumer Class Defense Counsel
Legal Decision Expected Today Regarding Implementation of CFPB Rule Reducing Credit Card Late Fees
On March 5, 2024, the Consumer Financial Protection Bureau finalized a rule that would reduce credit card late fees to $8 for large credit card issuers