With attorneys and staff worldwide, Bryan Cave often makes the news. Recent media mentions of attorneys in the Financial Institutions Group include:
Walt Moeling in SNL
Walt Moeling was quoted August 11 in an SNL blog post, a product of SNL Financial, regarding the slow down in bank failures (even as the problem bank list has shown no signs of shrinking). Moeling said a number of banks have nonperforming loans on their books that are current, but they have had time to write down the loans to levels closer to market values. In addition, some banks with a high likelihood of failing have recapitalized and should survive. “I think it’s strengthening. Banks that were really clamped down are coming out,” he said. “Not that all the problems are over. Some have bled so much that they’re not going to get a transfusion.”
John ReVeal in Bank Safety & Soundness Advisor
John ReVeal was quoted August 1 by the Bank Safety & Soundness Advisor concerning the final rule on preemption issued recently by the Office of the Comptroller of the Currency (OCC) — a last statement on what has been an opaque, legalistic debate carried out between the U.S. Treasury Department and the OCC. At stake were OCC powers that allow the agency to exempt (or preempt) national banks and thrifts from state consumer finance laws. Dodd–Frank legislation codifies what many consider to be a new, stricter standard. But does the Dodd-Frank standard compel the OCC to change its preemption standards? “What community banks can do is breath a momentary sigh of relief,” ReVeal said. “Preemption still exists. Everything we believed about preemption before Dodd-Frank is still true.” Now the OCC’s view will be tested in the courts. “We just need to watch the new laws and see how that plays out,” ReVeal noted.