News & Insights

Section 4012 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) directs the federal banking agencies to issue an interim final rule that provides that the community bank leverage ratio will be 8% and that a qualifying community banking organization whose leverage ratio falls below 8% will have a r… READ MORE

A few days ago, we provided an update on court extensions and closures due to COVID-19.  With another week comes yet another update, this by way of an Order from Chief Justice Beasley. Pursuant to N.C.G.S. § 7A-39(b)(2), Chief Justice Beasley has issued seven emergency directives which we have s… READ MORE

Companies may choose to delay their 2020 annual meetings of shareholders, but should review their governing documents before doing so. SEC filers must be mindful of the requirement to file their proxy statements or amend their annual reports on Form 10-K by April 29 and to notify their shareholders if the date of th… READ MORE

As COVID-19 strains business’ current and future cash flows, companies in many industries are examining whether a global pandemic and the resulting government ordered closures and shelter in place directives provide a right to terminate or excuse nonperformance of contractual payments and other obligations.&nb… READ MORE

The novel coronavirus pandemic has disrupted every facet of a company’s operations.  In addition to urgent decisions regarding a company’s workforce, company leadership must also consider how the pandemic and related fallout on its employees’ personal finances affects the operation of its reti… READ MORE

Section 84 of Title 12 of the United States Code sets forth lending limits applicable to national banks. The maximum amount of credit outstanding by a national bank or federal thrift to any one borrower is limited to 15% of the bank’s unimpaired capital and surplus, plus an additional 10% of the bank’s u… READ MORE

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law as an economic stimulus in response to the COVID-19 virus pandemic.   A copy of the CARES Act can be found here.  The CARES Act contains a broad number of provisions aimed at pro… READ MORE

Section 4008 of The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) grants authority to the Federal Deposit Insurance Corporation (FDIC) to guarantee obligations of solvent insured depository institutions or their holding companies.  This authority, which was also granted to the FDIC in resp… READ MORE

Last week, NCBA Litigation Section members provided an overview of court closures and deadline extensions due to COVID-19.  This post is to provide an update, as well as to highlight resources that have become available to practitioners and the public.  Trial Courts On Friday March 13, 2020, Chief Justic… READ MORE

In light of the COVID-19 pandemic and the far-reaching impacts on businesses across the globe, insurers offering Representations and Warranties Insurance (RWI) are working to develop new protocols, many of which are still in flux and developing.  Some areas of focus are: Diligence – underwriters are ad… READ MORE