Alert – The Bankers’ Bulletin Vol. 4

Posted by & filed under Industry Alerts & Publications.

To our clients and friends: Today we published Volume 4 of The Bankers’ Bulletin.  You can find a copy of this edition here. This volume covers recent lawsuits at the federal and state level related to the Corporate Transparency Act and interest rate caps, the FDIC’s proposed revisions to its bank merger policy, federal and… Read more »

ALERT – FDIC Bank Merger Policy Statement

Posted by & filed under Uncategorized.

To our clients and friends: On March 21, the FDIC proposed revisions to its Statement of Policy on Bank Merger Transactions, which are intended to provide guidance on how the agency reviews merger applications under the Bank Merger Act. Our Client Alert describes the most relevant aspects of the new policy statement and includes key… Read more »

Luse Gorman Served as Legal Counsel to Financial Institutions, Inc. in the Sale of its Insurance Agency Subsidiary to NFP Property & Casualty Services, Inc.

Posted by & filed under Transactions.

On April 1, 2024, Financial Institutions, Inc., Warsaw, New York, the holding company for Five Star Bank, completed the sale of its insurance agency subsidiary, SDN Insurance Agency, LLC, to NFP Property & Casualty Services, Inc. (“NFP”). Financial Institutions, Inc. is the bank holding company for Five Star Bank, a New York-chartered commercial bank that… Read more »

Alert – SEC Finalizes Climate Disclosure Rules

Posted by & filed under Uncategorized.

To our clients and friends: On March 6, 2024, the Securities and Exchange Commission issued final rules requiring registrants to disclose climate-related risks and data in certain filings. These final rules are now the subject of legal challenges in several different jurisdictions. Our Alert regarding the climate-related disclosure rules is available here.

Luse Gorman is Legal Counsel to Freedom of Maryland FCU in its Proposed Merger with Atlantic Financial FCU

Posted by & filed under Transactions.

On March 21, 2024, Freedom of Maryland Federal Credit Union (“Freedom of Maryland FCU”), Bel Air, Maryland, announced the signing of a definitive merger agreement with Atlantic Financial Federal Credit Union (“Atlantic Financial FCU”), Hunt Valley, Maryland, pursuant to which Atlantic Financial FCU will merge into Freedom of Maryland FCU with Freedom of Maryland FCU… Read more »