Paul Atkins at The SEC Speaks 2022
From September 8 - 9, the Practicising Law Institute (PLI), in cooperation with the U.S. Securities and Exchange Commission (SEC), will host The SEC Speaks program. This two-day event provides essential updates on the current initiatives and priorities of the SEC....
Our Op-Ed in the American Banker: An Unworkable Compromise on Stablecoins
The crypto industry yearns for legislative clarity on stablecoins, but the industry and consumers may be better off under the status quo than a flawed compromise. A one-size-fits-all approach could squash innovation. Expanding Federal Reserve oversight to nonbank...
Federal Reserve Board Provides Additional Information for Banks Interested in Crypto-Related Activities
Federal Reserve outlines step-by-step process for banks considering crypto-related activities. Despite efforts to add controls to crypto activities, several senators still believe crypto-related activities pose too great a risk for national banks and federal savings...
What You Should be Thinking About Intellectual Property Risk and Innovation
Innovation is driven by ideas and intellectual property worth billions of dollars. Financial institutions should assess their risk and protect their intellectual property in the same way they maintain cyber security—proactively. Conversely, as financial institutions...
Robert Greene Featured in Article for Carnegie Endowment for International Peace
Robert Greene, Patomak's Vice President & Chief of Staff, was featured this week in an article for the Carnegie Endowment for International Peace where he discussed Southeast Asia's interest in non-dollar financial channels. Mr. Greene points out that,...
Federal Reserve Board Announces Updated Guidelines for Account Access, But Questions Remain
Federal Reserve Board introduces three-tiered review system for access to its payments system. Federally insured banks will on average have less stringent reviews, while nonbanks will receive the most diligence and scrutiny. Despite standardization efforts, regional...
Keith Noreika Featured on the Consumer Finance Monitor Podcast: Innovation, True Lender, and Issues Facing Banks Today
I recently sat down with Alan Kaplinsky of Ballard Spahr to discuss innovation, “true lender,” and other issues facing financial institutions today for the Consumer Finance Monitor podcast. While the conversation covered a lot of ground, there were several key...
Senators Pressure OCC to Rescind Crypto Bank Guidance, Adding Regulatory Uncertainty
Senators ask the Office of the Comptroller of the Currency (OCC) to rescind interpretive letters clarifying banks’ authority to engage in crypto-related activities. Despite efforts adding controls to crypto activities, senators still believe crypto-related activities...
SEC Seems Set on Blocking Spot Bitcoin ETPs
“We took over this station because the SEC wants to hear from investors like you.” [1] For nearly two months, commuters at Washington D.C.’s Union Station — just steps from the SEC’s offices — were treated to an unusual barrage of Grayscale advertisements. The ads...
Banking Regulators Propose CRE Loan Policy Update, Signal Concerns for Upcoming Business Cycle
Updated statement signals concern from agencies about the impact of slowing economy on CRE lenders and borrowers. Proposed statement affirms that lenders will not be criticized for implementing certain CRE loan workouts and accommodations. Agencies will not adversely...