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A Message from Krieg DeVault LLP's Creditors' Rights and Bankruptcy Practice Group on Our Response to the Coronavirus COVID-19 Pandemic

on March 24, 2020

We are living through extraordinary times. As experienced veterans of the workout and insolvency arena, the members of Krieg DeVault’s Creditors’ Rights and Bankruptcy Practice Group wish to remind you of our ability to help with any distressed debt or workout issues you may face as a result of...


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Financial Services Regulators Respond to COVID-19

Posted by: Michael J. Messaglia and Brett J. Ashton on March 23, 2020

In response to the impact of the coronavirus outbreak (“COVID-19”) on our economy and our financial institutions, the FDIC, the Federal Reserve Board and the Office of the Comptroller of the Currency (the “Banking Regulators”) have taken a series of steps in the past two weeks to provide...


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NCUA Issues Proposed Rule Allowing Some Credit Unions to Issue Subordinated Debt

Posted by: Brett J. Ashton on January 27, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

On January 23, 2020 the National Credit Union Administration (the “NCUA”) board issued its proposed rule (the “Proposed Rule” or the “Rule”) to modernize existing secondary capital regulations applicable to low income credit unions (“LICUs”),1 and to expand access to additional capital for non...


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Community Reinvestment Act Proposed Rulemaking Update

Posted by: Maria M. Vladimirova and Charles O. Richert on December 24, 2019

Court Decision Clears Way for Broader Use of Postnuptial Agreements

On December 12, 2019, the Federal Deposit Insurance Corporation (“FDIC”) and the Office of the Comptroller of the Currency (“OCC”) (together, the “Agencies”) issued a joint notice on proposed rulemaking and a request for comment (collectively, the “Proposed Rule”) on proposed updates to their...


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Brokered Deposits Restrictions Proposed Rulemaking Update

on December 24, 2019

On December 12, 2019, the Federal Deposit Insurance Corporation (“FDIC”) issued a notice of proposed rulemaking and a request for comment (collectively, the “Proposed Rule”) with proposed updates to their brokered deposit regulations.1  While the Proposed Rule doesn’t alter the scope of those...


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New Wave of Overdraft Fee Class Action Suits Targets Indiana Financial Institutions

Posted by: Brett J. Ashton, Mark J.R. Merkle, Scott S. Morrisson, and Kay Dee Baird on September 23, 2019

Overdraft practices have been the subject of both regulatory scrutiny and civil litigation for over a decade. Prior to 2010, the allegations in overdraft cases typically focused on allegations of failure to notify consumers of their participation in overdraft programs and deceptive practices...


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Agencies Adopt Final Rule Excluding Community Banks from Volcker Rule

on July 12, 2019

On July 9, 2019, the FRB, FDIC, OCC, CFTC and SEC announced the adoption of a final rule to exclude certain community banks from the Volcker Rule's restrictions on proprietary trading, consistent with the Economic Growth, Regulatory Relief, and Consumer Protection Act. The final rule was...


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