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New York Law Journal

Active U.S. Enforcement of Anti-Money Laundering Rules Continues Unabated

In 2019 global enforcers imposed more than $8 billion in anti-money laundering fines. Of the world's top 50 banks, 12 were hit with fines in 2019. Four months into 2020, this trend has continued.
14 minute read

Daily Business Review

Broward Lawsuit Argues Loans Involving Fannie Mae and Freddie Mac Qualify for CARES Act Relief

An emergency law providing homeowners relief from foreclosures could be more widely applicable than it seemed on first glance, according to a Weston foreclosure attorney.
3 minute read

Daily Business Review

'A Totally New Mission': How Army Lawyer Edward O'Sheehan Helped With COVID-19 Response

A former U.S. Marine, O'Sheehan serves as a judge advocate general and senior defense counsel for the Florida National Guard, which teamed with the Army Corps of Engineers for the effort.
7 minute read

Daily Business Review

Should I Take the Economic Injury Disaster Loan? It's a Hard Maybe for Me.

Like for many other small businesses, revenues started to slow down, while expenses remained the same or increased. We had to buy new equipment and software that would facilitate working remotely.
7 minute read

New York Law Journal

A Look Ahead: Potential Constitutional Challenges to the Proposed New York Legislation for U.S. Dollar LIBOR Contracts

Because many U.S. Dollar LIBOR contracts are governed by New York law, New York will be the center of the litigation storm.
9 minute read

New York Law Journal

A 'Telegram' to SAFTs: 'Beware!'

How and when can a cryptocurrency or token offering transform from a security into a commodity or something else that is not subject to the securities laws? In his Blockchain Law column, Robert Schwinger discusses one approach that some issuers have tried in order to avoid or minimize having to face securities law requirements: "simple agreements for future tokens" or SAFTs.
19 minute read

Connecticut Law Tribune

Santander Reaches $550 Million Settlement With 34 States Over Alleged Deceptive Auto Loan Practices

Santander, the nation's largest subprime auto financing company, settled claims of loan improprieties with 34 states to the tune of $550 million.
3 minute read

New York Law Journal

Principles for Bailouts: A Closer Look at the CARES Act

We have now been through two rounds of the PPP, and it is time for some stock-taking. How well did it work? How could it be redesigned to be more efficient or fairer—or both? John C. Coffee Jr. explores these questions in this edition of his Corporate Securities column.
9 minute read

New York Law Journal

Are You Ready for Your Next Cross-Border Regulatory Inquiry?

Financial institutions that serve clients in multiple jurisdictions must be vigilant, adapting their legal and compliance teams' practices, procedures, and internal communications in every market and across regional management silos to ensure all matters are properly evaluated.
8 minute read

Litigation Daily

SBA and Treasury Department Sued Over PPP Loan Guidance on the Good Faith Necessity Certification

Recent FAQ guidance from the Small Business Administration is causing great uncertainty for businesses that have received paycheck protection loans and are grappling with whether to return them, write litigators from McCarter & English.
5 minute read

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