Headlines 1. OCC to Consider Fintech Applications for Special Purpose National Bank Charters 2. Federal Banking Agencies Publish Guidance on New Credit Loss Accounting Standard 3. Federal Banking Agencies Issue Final Rule on Extended Exam Cycles 4. Division of Banks Amends Foreclosure Prevention and ATM/EFT Rules 5. Other Developments: Marijuana Guidance and Bank Fraud
1. OCC to Consider Fintech Applications for Special Purpose National Bank Charters
FROM THE EDITOR
Vicki Dallas
A recent decision by Judge Sontchi in the Bankruptcy Court for the District of Delaware casts some light on the methods that representatives of non-U.S. debtors can—and can’t—use to track down those who owe such debtors money.
The coming year will likely continue to be a tumultuous year for health care providers, suppliers, and payers, as they adapt to meet new challenges and market forces, particularly in light of the open questions as to the viability and continued existence of the Affordable Care Act (ACA) and recent comments made by members of the incoming Trump administration.
The proposed bankruptcy sale of Golfsmith International Holdings to Dick’s Sporting Goods was recently approved, after the privacy ombudsman recommended that almost 10,000,000 consumer records (i.e., the personal information of consumers) of Golfsmith International Holdings can be transferred to Dick’s Sporting Goods.
Imagine you are the CEO of company sitting across from an interviewer. The interviewer asks you the age old question, “So tell me about your company’s strengths and weaknesses?” You start thinking about your competitive advantages that distinguish you from competitors. You decide to talk about how you know your customers better than the competition, including who they are, what they need, and how your products and services fit their needs and desires. The interviewer, being somewhat cynical, asks “Aren’t you worried about the liabilities involved with collecting all that data?”
More and more frequently the following question arises: “What do we do about personal, sensitive, and business information owned by or residing with a financially troubled company?” Information is an intangible asset and often has significant value. Information increasingly resides with a party other than the owner and may need to be transferred in unexpected ways. Unfortunately, the thinking about this question often arises after financial distress is readily apparent, such as after a bankruptcy filing.
In this exciting age of startups, the market is brimming with opportunities for individuals and entities alike to invest in emerging companies. Today’s rapid rate of technology development justifies investors’ eagerness to take an interest in innovative companies, hoping to find the next “unicorn.” Notwithstanding the fast pace of the tech industry, it remains important for investors to conduct due diligence before kicking funds into any business, especially when bargaining for a security interest or license.
Commercial Litigation
When can you be deprived of costs where you better your Part 36 offer?