Banking

Expert Analysis

• Case Law Likely Undercuts DOL's Microsoft Diversity Probe

  

  The U.S. Department of Labor is unlikely to uncover liability in its recent investigation into Microsoft’s attempt to hire more Black managers and executives, because Title VII case law supports private employers' consideration of race among other factors to enhance diversity, says Conor Ahern at Sanford Heisler.

• DOJ Guidance, Indictment Suggest Expanding Crypto Focus

  

  Read together, the U.S. Department of Justice's recently released cryptocurrency guidance and unsealed BitMEX indictment send a strong message that the government is expanding efforts to combat use of digital assets and blockchain technology for criminal purposes, say Benjamin Klein and Deborah Meshulam at DLA Piper.

• Opinion

  Lawyers Must Fight Voter Suppression This Election Season

  

  Lawyers should use their unique skill sets, knowledge and spheres of influence to fight burdensome ID requirements and other voter suppression tactics that may influence the 2020 elections, and to participate in potential post-election litigation, say CK Hoffler and Allyce Bailey at the National Bar Association.

• Why Sustainable Finance Is On The Rise

  

  With green bonds, green loans and sustainability-linked debt instruments appearing with increasing prevalence in the bond and loan markets, opportunities within sustainable finance look set to continue their upward trajectory as environmental, social and governance factors increase in importance for both companies and investors, say attorneys at Vinson & Elkins.

• Why Online Mediation May Be Here To Stay

  

  Videoconferenced mediation offers several advantages and helps cases settle faster and more cordially, making it hard to imagine going back to logistically difficult in-person dispute resolution after COVID-19 restrictions are gone, says Sidney Kanazawa at ARC.

• States' Evolving Patchwork Of Insurance Data Security Laws

  

  With key differences in state approaches to insurance data security regulation beginning to emerge, even small and bank-affiliated insurance entities that are granted partial exemptions in some jurisdictions will likely have to develop information security programs eventually, say attorneys at McIntyre & Lemon.

• CFTC Climate Change Report Highlights Costs Of Inaction

  

  The Commodity Futures Trading Commission's recent report on climate change and financial markets makes it clear that while government regulation of carbon dioxide pollution may have negative consequences, letting greenhouse gas emissions go unaddressed could harm investors, asset managers and financial institutions, says Nicholas Fox at Goldberg Segalla.

• Clients Have The Power To Promote Wellness At Law Firms

  

  Law firm clients can play a role in lowering mental distress in the legal profession by seeking lawyer wellness data from firms and factoring those responses into outside counsel hiring decisions, says Jonathan Prokup at Cigna.

• Opinion

  Appellate Courts Should Welcome Well-Crafted Amicus Briefs

  

  A Seventh Circuit judge's recent order granting leave for three organizations to file amicus curiae briefs in Prairie Rivers Network v. Dynegy Midwest Generation is a reminder that relevant, nonduplicative amicus briefs can provide courts with helpful perspective, important facts and legal arguments, says Lawrence Ebner at Capital Appellate Advocacy.

• 4 Compliance Tips Amid Increased Ransomware Scrutiny

  

  In light of two new U.S. Treasury Department advisories signaling increased oversight of ransomware payments, victim companies and their third-party response teams considering making payments should follow certain due diligence and compliance best practices, say attorneys at Squire Patton.

• CFPB U-Turn On Mortgage Marketing May Repair Industry Ties

  

  The Consumer Financial Protection Bureau this week rescinded previous guidance that increased scrutiny on marketing services agreements in the mortgage space, representing a step toward reconciling the often tense relationship between regulators and the industry, says Nate Viebrock at Viebrock & De Nittis.

• Floating-Rate Debt Considerations As Libor Cessation Nears

  

  Ahead of Libor's discontinuance in 2021, issuers of floating-rate debt should contemplate several liability management measures to eliminate benchmark rate exposure for both new and legacy securities, says Dawn Pruitt at Faegre Drinker.

• Alternative Financing Options For Retail And Hotel Properties

  

  With the pandemic making it more difficult for retail shopping centers and hotels to secure traditional mortgage loans, borrowers should understand some of the customary features and requirements of mezzanine loans and preferred equity investments, say Mark Levenson and Jeffrey Gaskill at Sills Cummis.

• SEC's Accredited Investor Rule Will Benefit Sovereign Wealth

  

  The U.S. Securities and Exchange Commission’s newly finalized rule amending the "accredited investor" definition should lay to rest sovereign wealth funds’ ongoing headache of determining whether they qualify to participate in certain investment activities on a case-by-case basis, say attorneys at Baker McKenzie.

• What Hiring Law Firms Should Consider Instead Of Grades

  

  With law schools forgoing traditional grading due to the pandemic, hiring firms that have heavily weighted first-year grades during the on-campus interview process should turn to metrics that allow a more holistic view of a candidate, says Kate Reder Sheikh at Major Lindsey.