Jones Day Discusses Regulatory Issues and Termination Risks in Bank Mergers

Mergers and acquisitions (“M&A”) of bank holding companies (“BHCs”) and banks are subject to lengthy and sometimes unpredictable regulatory scrutiny and application processing between signing and closing. Bank M&A applications are subject to numerous regulatory risks, including preexisting conditions that are unknown or whose importance to the process is underestimated when the deal is signed, changes in the merging parties’ businesses, changes in regulatory views or policies, and new regulatory examinations or findings. Market, economic, and credit conditions, as well as the parties’ balance sheets, performance, and people can change materially while regulatory applications are being processed. All risks, including … Read more

Jones Day Discusses the OCC’s Latest Fintech Developments

The Comptroller of the Currency (the “OCC”) has been working for over a year to develop a comprehensive framework to improve the OCC’s ability to identify and understand trends and innovations in the financial services industry, as well as evolving customer needs.[i]  The OCC is taking a comprehensive approach to financial innovation, including innovative products and services.  As part of this initiative, the OCC formed a team including policy experts, examiners, lawyers and other’s (the “Team”) to gain a better understanding of emerging technology and new approaches in financial services and to design the OCC’s … Read more