As many businesses are analyzing and adjusting strategy, operations & budgets amidst the COVID-19 virus, rapidly-changing regulations and new government relief packages, now is a good time to assess new and existing financing arrangements to keep businesses up and running. Make these 5 Assessments of your commercial loan: 1. Make note of key provisions that may...Continue reading…
Category: Banking & Finance
LIBOR Phase-Out SOFR Replacement Option
The Financial Conduct Authority's ("FCA") announced that LIBOR the London Interbank Offered Rate, which serves as a gauge for the cost to lend money and set interest rates, would be phased out by the end of 2021. With two years to go, there are countless questions the financial world has yet to resolve.
Wells Fargo Will Pay Over $240 Million To Defrauded Shareholders
Wells Fargo reached a record settlement today with U.S. shareholders after employees created over 1.5 million false accounts and insurance policies under customer's names. Twenty Wells Fargo executives and directors will pay for the damages, but the government and consumers' faith has been shaken.
What is the status of this case?
This settlement is separate but...