We don’t know about you, but we’ve been following the contentious litigation between the Consumer Financial Protection Bureau (CFPB) and debt-relief services company Morgan Drexen pretty closely. The CFPB filed its lawsuit in August 2013, alleging, among other things, that the company deceived consumers into paying unlawful up-front fees for debt relief services by disguising them as fees related to “sham” bankruptcy services.
USA, Banking, Insolvency & Restructuring, Litigation, Morrison & Foerster LLP, Consumer Financial Protection Bureau (USA)
On April 23, the FDIC published additional Q&As on the Statement of Policy on Qualifications for Failed Bank Acquisitions (“Policy Statement”) issued in September 2009. The Q&As clarify that there is no requirement that investors must have held their ownership for a specific amount of time.
USA, Banking, Corporate Finance/M&A, Insolvency & Restructuring, Morrison & Foerster LLP, Share (finance), Shareholder, Board of directors, Consideration, Holding company, Voting, Capital punishment, Right of first refusal, Federal Deposit Insurance Corporation (USA)