To our clients and friends: Brendan Clegg recently authored an article in Bank Director covering the RECOUP Act’s potential expansion of the federal banking agencies’ enforcement authority against bank officers and directors. The article covers how the proposed legislation, which is working its way through the U.S. Senate, would introduce new standards into the existing… Read more »
Posts By: tames
Tom Hutton and Brendan Clegg presented at the Pennsylvania Association of Community Bankers Annual Convention
On September 23, 2023, Tom Hutton and Brendan Clegg presented, together with professionals from S.R. Snodgrass, at the annual CEO Breakfast Session at the PACB Annual Convention. Luse Gorman has been a long-time presenter at the CEO Breakfast. Mr. Hutton and Mr. Clegg led a discussion on current trends in community banking, including topics related… Read more »
ALERT – CFPB Issues Fair Lending Law Interpretation Related to Use of AI in Credit Decisions
To our clients and friends: On September 19, 2023, the Consumer Financial Protection Bureau issued Circular 2023-03 to address whether creditors could rely on stock reasons in the Bureau’s sample adverse action notices when issuing those notices after using AI in the credit decision. Our Alert discusses the CFPB’s interpretation of ECOA as it applies… Read more »
BRENDAN CLEGG JOINS LUSE GORMAN, PC
Washington, DC, August 21, 2023. For Immediate Release. Luse Gorman, PC is pleased to announce that Brendan Clegg has joined the Washington, DC law firm as a partner. Mr. Clegg was most recently at Alston & Bird LLP. With his addition to the partnership, Luse Gorman builds upon its unparalleled experience in the financial services… Read more »
Alert – SEC Adopts Disclosure Rules on Cybersecurity Incidents, Risk Management, Strategy, and Governance
To our clients and friends: The SEC recently approved amendments to Rule 10b5-1 regarding insider trading plans to revise the conditions that must be met for insiders to be able to use the 10b5-1 affirmative defense including, among other things, cooling-off periods, representations from plan participants and new periodic disclosure requirements for issuers and their… Read more »