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Distressed Bank Restructurings
Over the past decade, the landscape for struggling distressed financial institutions has evolved, but has not changed dramatically. To put it in perspective, in 2005-2006, there were essentially no bank failures. At its peak, however, as the economic crisis matured in 2010, there were 157 bank failures. That same year, the FDIC's confidential “problem” institution list (that identifies banks that demonstrate weaknesses that threaten their financial viability) mirrored the rise in bank failures, and spiked at 884 financial institutions.
Since 2010, the number of actual bank failures has declined from the high of 157 in 2010, to 92 in 2011 and 51 in 2012. However, in 2013, the FDIC's “watch list” of troubled lending institutions remains at a historical level, at nearly 700 (or 10% of the country's 7181 chartered banks) ' extraordinary when compared with the prior decade when the list never rose to more than 150 troubled institutions attracting the FDIC's attention. Although actual failures appear to have declined, the FDIC's list of nearly 700 “problem” banks reveals that the problem of inadequate bank capitalization and the need for restructuring remains strong.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.