United States: Finance and Banking

Federal banking regulators have jointly proposed sweeping reforms to U.S. capital requirements, formally rescinding the controversial 2023 Basel III Endgame Framework in favor of a modernized approach that would reduce capital burdens...

The NAIC's Spring National Meeting addressed critical changes to risk-based capital factors for life insurers' collateral loans, with industry stakeholders debating the appropriate methodology for calculating RBC factors based on loan-to-value ratios and overcollateralization levels.

Federal banking agencies have issued revised model risk management guidance in SR 26-2, introducing a more explicitly risk-based approach to model governance, validation, and monitoring. While primarily targeting organizations with over $30 billion in assets, the principles-based framework has broader implications for regional and community banks navigating evolving regulatory expectations.

Judge Glenn recently became the first U.S. bankruptcy judge to recognize a Luxembourg judicial reorganization by collective procedure (the Luxembourg Proceeding or JRP) as a “foreign main proceeding” under Chapter...

On June 1, 2026, the U.S. Department of the Treasury (the Treasury) and the Internal Revenue Service (the IRS) published proposed regulations (the 2026 Proposed Regulations) addressing the applicability dates of proposed regulations published last year (the 2025 Proposed Regulations) regarding the Section 892 tax exemption for foreign governments.

The IRS and Treasury have released new proposed regulations under Section 892, revising applicability dates for previously proposed rules from 2025 that govern debt acquisitions and the "effective control" standard for foreign government investments. These revised dates include transition rules designed to protect existing and committed investments from the more stringent 2025 standards, while the preamble signals potential substantive changes to address market concerns.

Transferring residential property to a limited liability company involves more than simple paperwork and requires careful consideration of multiple legal and financial implications.

When a tenant invests significant capital in a leased location secured by a mortgage, a Subordination, Non-Disturbance, and Attornment Agreement (SNDA) becomes critical protection.

Congress has passed legislation to reauthorize partial claims with VA-guaranteed home loans, providing relief options for veterans facing foreclosure. The VA has announced implementation timelines for servicers to integrate this program into their systems, with the program opening for submissions in mid-2026.

Ballard Spahr's Consumer Financial Services Group delivers comprehensive legal analysis on mortgage banking, consumer finance, and regulatory developments. This newsletter examines Illinois' new consumer complaint portal, AI shopping bots pushing retail legal boundaries, the FTC's restraining order against a mortgage relief operation, Colorado's opt-out developments, and President Trump's nomination of Brian Johnson to lead the CFPB.

A notable shift is emerging in the treatment and pursuit of avoidance actions as bankruptcy filings continue to rise across certain sectors of the economy. Preference litigation, long a routine component of Chapter 11 proceedings, is becoming increasingly sophisticated as trustees, litigation trusts, and estate representatives adopt new tools and strategies to maximize recoveries.

In the latest episode of Private Market Talks, Christian Munafo, Portfolio Manager of Growth Equity at VanEck, joins Howard Beber to discuss the evolution of the non-traditional secondaries market...