With the continuing spread of the Coronavirus Disease 2019 (“COVID-19” or “coronavirus”), hospitality service providers are facing a number of issues that have already exacted a heavy financial toll. With
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It’s all about Capital
By Colleen McDonald on
Posted in Other
In 2018, securitization provided an estimated $13.1 trillion in financing. Contrast that with the US $10.24 trillion issued at the end of the 2nd quarter of 2008, and we can…
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In Wake of Panama Papers Scandal Obama Calls for Stricter Bank Regulations, Tax Rules
By Raymond Marshall & David Cannon on
Posted in Other
In a news conference today President Obama addressed rules and proposed regulations announced Thursday intended to help the U.S. fight tax evasion and other crimes connected to anonymous offshore companies and accounts. The announcements come after a month of intense review by the administration following the first release of the so-called Panama Papers, millions of documents stolen or leaked from Panamanian law firm Mossack, Fonseca. The papers have revealed a who’s who of international politicians, business leaders, sports figures and celebrities involved with financial transactions accomplished through anonymous shell corporations.
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CFPB Issues Compliance Bulletin On Confidentiality of Supervisory Information
By Alejandro Moreno on
Posted in Other
On January 27, 2015, the Consumer Financial Protection Bureau (“CFPB”) issued a compliance bulletin reminding supervised financial institutions (including large depository institutions, credit unions and their affiliates, certain nonbanks, and service providers) of existing regulatory requirements regarding confidential supervisory information. In this article we (i) explain the definition of confidential supervisory information; (ii) discuss exceptions to the non-disclosure rule; and (iii) offer tips for ensuring compliance.
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Second Circuit Holds RMBS-issued Certificates Are Exempt from the TIA
By Robert Friedman & Mark McGrath on
Posted in Other
On December 23, 2014, the United States Court of Appeals for the Second Circuit issued an opinion on an issue of first impression, namely the scope of § 304(a)(2) of the Trust Indenture Act of 1939, 15 U.S.C. §§ 77aaa-77aaaa (the “TIA”), and its application to certificates issued by trusts under pooling and servicing agreements (“PSAs”). See Ret. Bd. of Policemen’s Annuity & Benefit Fund v. Bank of N.Y. Mellon, Nos. 13-1776-cv, 13-1777-cv (2d Cir. Dec. 23, 2014).
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Has New York State Failed its Hospitals?
By Eric Klein on
Posted in Other
According to New York’s Department of Health Commissioner, “nearly half [of] New York’s 227 hospitals are financially distressed.”[1]
What then is the future for New York’s hospitals, especially in light of healthcare reform and declining reimbursement rates?Continue Reading Has New York State Failed its Hospitals?