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The Federal Reserve began accepting lender applications to participate in the Main Street Lending Program (the “Program”), which is a lending program intended to provide liquidity to small and medium-sized businesses with 15,000 or fewer employees or $5 billion or less in 2019 revenue. See our prior

The National Legal Aid & Defender Association (NLADA) has announced that Nelson Mullins is one of 30 law firms honored with the 2025 Beacon of Justice Award. The award recognizes firms for their efforts to promote equal justice for families and communities. NLADA is the nation’s oldest and largest n

As the U.S. Securities and Exchange Commission (“SEC”) continues to step up its enforcement concerning cryptocurrencies, U.S.-based exchanges should take note when conducting due diligence concerning tokens to list for trading to ensure that the projects are not smoke and mirrors.That’s the lesson t

Thunder Bridge Capital Partners IV, Inc. (NASDAQ:THCP), a special purpose acquisition company, was represented by Nelson Mullins as it entered a definitive merger agreement with Coincheck, Inc., one of the largest multi-cryptocurrency marketplaces and digital asset exchanges in Japan by verified acc

[Update: Governor Baker has signed the emergency legislation into law and it is effective immediately.]After some delay, on April 23, 2020, the Massachusetts Senate and House passed emergency legislation that allows for notaries public to use electronic videoconferencing to perform acknowledgements,

Nelson Mullins partner Jackson Hwu will present at the Florida Venture Capital Conference on February 9, 2023, in Miami, Florida. Hwu is moderating a panel titled "Let's Separate Blockchain Technology from Cryptocurrency." The panel will discuss use cases for blockchain technology and

Nelson Mullins partners Matthew Lindenbaum and Robert Lindholm, associate Daniel Curran, and chair of the FinTech and Regulation Practice, Richard B. Levin, recently had their article, “Gov't Backtrack On Ether As Security May Spur Crypto Clash,” featured on Law360. In the article, the trio of s

The SEC announced on May 3, 2022 that 20 additional positions will be allocated to the Crypto Assets and Cyber Unit within the Division of Enforcement. The announcement specifically identified crypto asset offerings, crypto asset exchanges, crypto asset lending and staking products, decentralized fi

Recently issued guidance from the Federal Trade Commission (FTC) addresses frequently asked questions about the application of the agency’s Safeguards Rule, 16 C.F.R. § 314.1 et seq., to new car dealers since the 2023 overhaul of that rule. The latest guidance also reaffirmed the FTC’s 2005 guidance

The U.S. Department of Justice (“DOJ”) and the Consumer Finance Protection Bureau (“CFPB”) issued a joint letter reminding the auto finance industry to enforce certain interest rate restrictions and other consumer protection measures enjoyed by active duty service-members and their families. The joi

In its just-released Financial Stability Report, the Board of Governors of the Federal Reserve System reveals that it has its eye on stablecoins, which now amount to more than $180 billion in the cryptocurrency market. The Fed has identified stablecoins as potentially backed by volatile assets that

The Securities and Exchange Commission (“SEC”) released Staff Accounting Bulletin No. 121 (“SAB 121”) on March 31, 2022. SAB 121 provides SEC staff’s views regarding accounting treatment of obligations incident to a reporting company’s custody of crypto-assets for its platform users. The staff notes

I had the pleasure of presenting at Bank Director Magazine's Inspired By Acquire or Be Acquired: What Officers and Directors Need to Know Now virtual conference, along with Richard Levin, earlier this month. Our presentation, "Custody of Digital Assets," covered not only the custody of

The United States Securities and Exchange Commission (“SEC”) recently proposed its Annual Regulatory Agenda, which recommends enhancing the rules requiring corporate disclosures of Environmental, Social and Governance (“ESG”) related activities. Historically, SEC disclosure requirements have been b

New York partner Lori Anne Czepiel will join industry leaders on the panel "Banking on Innovation: Shaping the Future of Financial Services" at the Banking Transformation Summit on Tuesday, Nov. 19. The panel includes Cynthia Jackson with U.S. Bank, Amina Turgulova with Solidus Labs, and L

As Financial Technology, or "FinTech," continues to boom, we are happy to release the upcoming schedule for FinTech University, a series of webinars focusing on FinTech and how it's changing our world.Mark your calendars and register to participate virtually in future FinTech Universit

The South Carolina Supreme Court recently issued Administrative Order No. 2020-05-06-01 adopting a court form for the foreclosing party to use when certifying compliance with the Coronavirus Aid, Relief, and Economic Security (CARES) Act in foreclosures. The foreclosure form is available here and ha

In a recent article, the Nelson Mullins’ AI Task Force describes recent updates to California’s Artificial Intelligence (AI) Safety Bill and additional AI safety initiatives. Governor Gavin Newsom vetoed the California Artificial Intelligence (AI) Safety Bill, citing concerns that it imposed strict

GREENVILLE, S.C. — Nelson Mullins Riley & Scarborough LLP recently recognized two attorneys from the firm’s Greenville office with the Claude M. Scarborough Pro Bono Award for their outstanding commitment and contributions to pro bono work. This year’s honorees from the firm’s Greenville office were

A somewhat common question that arises after a bankruptcy discharge is granted is whether post-petition liabilities are discharged under pre-petition agreements, like guaranties. To describe the issue in more digestible language, let’s say that the owner of a small business guarantees the business’s

The Federal Deposit Insurance Corporation (“FDIC”) on August 18, 2022 issued updated Supervisory Guidance on banks assessing multiple re-presentment fees against customers’ accounts. This follows the March 2022 FDIC Consumer Compliance Supervisory Highlights, which also raised similar concerns. The

Earlier this week, the CFPB announced a final rule covering small dollar lending which rescinds the mandatory underwriting provisions of the 2017 Payday Lending Rule. The 2017 Payday Lending Rule was the result of a prior CFPB initiative, which was led by former CFPB Director Richard Cordray, and wh

Nelson Mullins will have its annual Financial Services Conference in Washington, D.C. This event will feature a lineup of national speakers on the future of financial services. The conference agenda is available here.For those who cannot attend in person, there is an option to attend virtually. Plea

For the past six months, we have received calls from banks and non-depository mortgage lenders regarding Department of Justice (“DOJ”) investigations into mortgage lending discrimination. These DOJ inquiries are bypassing the banks’ prudential regulators and the non-bank state regulators, which have

HOUSTON – Nelson Mullins Riley & Scarborough LLP is pleased to announce that Lena Serhan has joined the firm as a partner in the Houston office. She focuses her practice on complex cross-border and domestic disputes, including international arbitration, enforcement of international awards and judgme

Nelson Mullins partners Benjamin Barnhill, Neil Grayson, and Brennan Ryan co-authored an article titled “Build Or Buy: Assessing Options For Starting A New Bank,” which was published by Law360. This article examines the differences between starting a new bank by using the de novo chartering process,

Financial Technology, or "FinTech," has quickly grown in popularity. With significant innovation in recent years, the financial sector has prospered in helping lead this digital revolution. As banking and financial services attorneys, we are launching FinTech University, a series of sessio

Richard B. Levin, Daniel Newman, and Bobby Wenner of the Nelson Mullins FinTech and Regulation Practice recently published an article in the 2024/25 edition of the International Fintech Review. The article discusses the use of the major questions doctrine by defendants in enforcement actions by the

The SEC announced today that it reached a settlement with Poloniex, LLC (“Poloniex”), in connection with the SEC’s inquiry that began back in December 2017 into whether Poloniex operated an exchange under federal securities laws without registering as an exchange. Specifically, the SEC alleged that

GREENVILLE, S.C. — Nelson Mullins Riley & Scarborough LLP has been shortlisted by the Financial Times for its 2023 Innovative Lawyers Awards for North America in the category of Innovative Lawyers in Deals & Financing.The firm has been recognized for its representation of Redemption Holding Company

Charleston partner Matt Austin and Matthew Latrick, Regional Counsel for the Americas for Morgan Advanced Materials will present, “What To Do When the Feds Come Knocking,” at the South Carolina Chapter of the Association of Corporate Counsel’s (ACC SC) Annual Meeting on Sept. 14, in Columbia, South

The Office of the Comptroller of the Currency (“OCC”) adopted a final rule on June 2, 2020 that clarifies that when a bank transfers a loan, the interest permissible before the transfer continues to be permissible after the loan is transferred, a doctrine referred to as “valid when made.” This rule

Nelson Mullins will have its annual Financial Services Conference in Washington, D.C. This event will feature a lineup of national speakers on the future of financial services. The conference agenda is available here.For those who cannot attend in person, there is an option to attend virtually. Plea

Join us for an in-depth discussion on the intersection of cryptocurrency technology and First Amendment protections. As digital currencies and decentralized platforms continue to grow in use and influence, questions arise about their classification and rights within the legal framework of free speec

COLUMBIA, S.C. – Jody Bedenbaugh, a partner in Nelson Mullins Riley & Scarborough LLP’s Columbia office, joins other distinguished leaders from across South Carolina to participate in the Diversity Leaders Initiative (DLI), an award-winning program of Furman University’s Riley Institute, now in its

Nelson Mullins partners Jackson Hwu and Caio Prado, and associate Rebecca Lester provided legal counsel for Digibee as it raised $25 million in a Series A equity round. Digibee is a low-code Brazilian SAP startup whose business involves integrating large business systems into the digital world throu

Nelson Mullins attorneys Ben Barnhill, Gary Brown, Neil Grayson, John Jennings, Lee Kiser, Mark Miller, Ann Murray, Nikki Lee, Allie Nagy, Mason Gregory, and Troy Varrasse are representing their clients in mergers totaling approximately $935 million. Barnhill, Jennings, Murray, Lee, Nagy, and Gregor

The Office of the Comptroller of the Currency (“OCC”) issued its long-anticipated final rule on Oct. 27, to establish a “simple, bright-line test” to determine when a national bank or federal savings association has made a loan and, therefore, is the “true lender” in a lending relationship with a th

Michelle is chair of the firm's Global Club and Branded Residences Group and co-chair of the Hospitality, Tourism, and Leisure Team. Michelle advises her club, community association, hotel operator, and developer clients with projects in the U.S. as well as the Caribbean, the Bahamas, Latin Amer

Securities and Exchange Commission (“SEC”) Chairman Gary Gensler received a letter last week seeking clarification on the SEC’s authority to regulate cryptocurrency exchanges from Senator Elizabeth Warren, chair of the Senate Banking Committee’s Subcommittee on Economic Policy. Warren cited SEC Chai

Nelson Mullins Financial Institutions Corporate & Regulatory Partner Craig Nazzaro was quoted by S&P Global Market Intelligence in an article titled “Banks can expect return to strict oversight of anti-money laundering rules.” The article discussed how banks may now face increased enforcement from r

In the wake of the early months of COVID-19, the Federal Housing Finance Agency (FHFA) and the U.S. Department of Housing and Urban Development (HUD) instituted a foreclosure and eviction moratorium on Fannie Mae and Freddie Mac single-family foreclosures and real estate owned evictions. Additional

CHARLESTON, S.C. — Nelson Mullins Riley & Scarborough LLP Charleston Office Managing Partner John C. McElwaine has been selected as a World Trademark Review Global Leader.Now in its second year, this new guide entitled, “WTR Global Leaders 2020” brings together the world’s foremost law firm and corp

COLUMBIA, S.C. — The partners of Nelson Mullins Riley & Scarborough LLP re-elected James K. Lehman as Managing Partner of the firm to a three-year term effective Jan. 1, 2024.Lehman began his role as the managing partner in 2012, and under his leadership during the past 12 years, the firm has experi

The SBA added to its FAQ on the Paycheck Protection Program to provide clarity on certain issues on April 6. It should offer comfort to lenders in particular, who were struggling to interpret some of these issues and worried about liability for any misinterpretation. Below is a summary of some of th

Nelson Mullins partners Brad Rustin and Craig Nazzaro, along with associate Marianna McDevitt, will present a one-hour webinar on July 25. This webinar will focus on best practices as to how banks should apply the current broker deposit regulations and guidance within their Fintech partnerships and

Richard Levin, the chair of the FinTech and Regulation Practice of Nelson Mullins, was recently quoted in an article in Forkast, “Sam Bankman-Fried could face decades in jail if convicted of law violations in FTX collapse, lawyers say.” The article discusses the founder and former chief executive of

COLUMBIA, S.C. — The South Carolina Department of Corrections is renaming one of its signature family programs in honor of former U.S. Secretary of Education and former South Carolina Governor Richard Riley, who is currently a senior partner with Nelson Mullins.Now called “Riley’s Readers,” the form

This is the third installment of our series evaluating the choice between starting a “new” bank through the de novo chartering process or purchasing an existing bank to implement the new business plan. Since we first wrote on this topic, we have been fortunate to assist a number of clients in formin

Physician Fee Schedule Faces Cuts in CY25Overall Medicare payments to physicians and clinicians would be cut by a proposal to decrease average base payment rates by 2.93% from calendar year 2024 under a proposed rule released on June 10 by the Biden administration.In the proposed 2025 Medicare Physi

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