With attorneys and staff worldwide, Bryan Cave attorneys are often quoted in the news. Recent Media Mentions of Financial Institutions Group attorneys include:
Andreassen in Paybefore Update
DC Attorney Kristine Andreassen was noted as contributing to an article in the July edition of Paybefore Update concerning the Consumer Financial Protection Bureau’s proposed policy statement for disclosing consumer complaint information about financial products and services other than credit cards. The bureau’s handling of a consumer complaint database for non-credit card products would closely mirror how it currently discloses credit card complaint data, a process that has drawn criticism. Among objections, the current credit card complaint database publishes “unverified claims” that name the banks, but not any specifics regarding the complaints. Andreassen is a contributing editor to Paybefore.
Atkinson in American Banker
Charlotte partner B.T. Atkinson was quoted August 15 by American Banker regarding election year uncertainty, and how it is affecting M&A work. “The election is more likely to come up in the more red states. They are looking at the election with hope that things will get better, because they believe that it can’t get any worse,” Atkinson said. “The current administration isn’t looking to do much about regulatory relief, and they hope that the new administration will.” Atkinson noted that the Obama administration’s Jumpstart Our Business Startups Act, signed into law in April, has been a boon for many smaller banking companies that will no longer have to report to the Securities and Exchange Commission. “The JOBS Act is tremendous because deregistering saves real money,” he said. “That is one thing that has happened.”
Klingler in The Deal, Law360
Atlanta Partner Robert Klingler was quoted at length July 13 in The Deal and July 23 by Law360 concerning banks holding TARP funds and recent auctions by the U.S. Treasury of its stakes in these banks. The Treasury on July 23 started an auction process involving the sale of preferred stock and subordinated debt positions it acquired in 12 banks as part of the Troubled Asset Relief Program, under which it invested $245.1 billion in 707 financial institutions. The auction will be the fourth of its kind this year. After the current sale, the Treasury still will hold positions in 325 banks. Klingler told The Deal the preferred and sub-debt sale involving the 12 banks is happening now both because market conditions are right and because of the overarching idea that the government was never in the business of investing in private companies. Political motives could be in play, too, he added. “From a Washington outsider’s point of view, I think everything is political,” Klingler said. “The fact that an election is rapidly approaching helps play into that. The fact that the government has received a profit on the portfolio creates additional flexibility for them to say, ‘OK, let’s get out as soon as possible.'” Click here to read the Law360 article.