Archive: 2014

1
2014 Election Guide: A Guide to Changes in Congress
2
U.S. District Court Strikes Down HUD’s Fair Housing Act Disparate Impact Rule
3
Get Ready to Be Acquired
4
The 2015 U.S. News-Best Lawyers “Best Law Firms” Survey
5
CFPB Finalizes Rule Permitting Financial Institutions to Post Privacy Notices Online
6
K&L Gates Programs: Election 2014: Policy Implications Across Industries
7
K&L Gates Legal Insight: Start Your Compliance Engines: CFPB Proposes Rule to Supervise Larger Nonbank Auto Finance Companies
8
K&L Gates Legal Insight: Is the Third Time the Charm? The Supreme Court to Again Consider Whether the Fair Housing Act Recognizes a Disparate Impact Theory of Liability
9
If Bernanke Wants to Refinance, Maybe He Needs a Co-Signer?
10
K&L Gates Announcement: K&L Gates Receives Top Rankings in BTI’s Litigation Outlook Survey

2014 Election Guide: A Guide to Changes in Congress

Riding a wave of voter discontent, Republicans in the mid-term election took control of the U.S. Senate and increased their majority in the House. The results offer an opportunity for collaboration between the Congress and the Obama Administration, and to restart the legislative process.

To help you assess yesterday’s election, K&L Gates has prepared a comprehensive guide that summarizes the results and their impact on the 114th Congress, which will convene in January. The Election Guide lists all new members elected to Congress, updates the congressional delegations for each state, and provides a starting point for assessing the coming changes to the House and Senate committees.

Please click here to download the most up-to-date version of the 130 page Election Guide, which will be updated on an ongoing basis as more of the close races are called and committees are finalized. Read More

U.S. District Court Strikes Down HUD’s Fair Housing Act Disparate Impact Rule

By: Paul F. Hancock, Andrew C. Glass, Roger L. Smerage, and Olivia Kelman

On Monday, November 3, 2014, Judge Richard J. Leon of the U.S. District Court for the District of Columbia struck down the disparate impact rule promulgated by the U.S. Department of Housing and Urban Development (“HUD”) in March 2013 under the Fair Housing Act.  The court held that HUD had issued the rule—codified at 24 C.F.R. § 100.500—in contravention of the plain language of the Fair Housing Act.  The case is styled American Insurance Association, et al. v. United States Department of Housing & Urban Development, et al., Case No. 1:13-cv-00966-RJL (D.D.C.).

Read More

Get Ready to Be Acquired

By: Robert P. Zinn

Acquisition for payments startups and growing companies is a fact of life. And, whether acquisition is your reason for being or you want to grow old with the company you’ve founded, it’s best to be prepared. This article will tell you why early preparation is important and practical things you can do prepare—before live bullets are flying and a sale transaction is at hand.

To read the full article, click here.

 

The 2015 U.S. News-Best Lawyers “Best Law Firms” Survey

For a fifth consecutive year, global law firm K&L Gates LLP is among the top two law firms with the most first-tier rankings in the annual U.S. News-Best Lawyers “Best Law Firms” survey. The firm also has been honored for a second straight year with the publication’s sole national “Law Firm of the Year” distinction in the Securities Regulation area, one of 35 practices in which K&L Gates received a first-tier ranking nationally. Of these national first-tier rankings, the Consumer Financial Services practice was acknowledged within the Banking and Finance Law and Financial Services Regulation Law categories. Read More

CFPB Finalizes Rule Permitting Financial Institutions to Post Privacy Notices Online

By: Kristie D. Kully, David A. Tallman, Jeremy M. McLaughlin

Last week, the CFPB last week finalized its rule permitting certain financial institutions to post their annual privacy notices online, claiming it will benefit consumers and financial institutions alike. The rule became effective on October 28, 2014, and applies to banks and non-banks within the CFPB’s jurisdiction.

Read More

K&L Gates Programs: Election 2014: Policy Implications Across Industries

On the eve of the 2014 Congressional elections, the Public Policy and Law Group of K&L Gates is hosting two complimentary programs for our clients and contacts on topical issues and implications about the upcoming election. Please see below for more information on both, including how to register. If you wish to attend both programs, you must register for both programs.

Program 1
The Mid-Term Elections: What They Mean for Major National Policies
Thursday, October 30, 2014
3:00 – 4:00 pm EDT

Panelists will discuss alternative impacts of a Republican takeover or Democratic retention of the Senate and continued Republican control of the House on key issues, including energy/environment, financial services, health care and tax.

Register to attend live in our Washington, D.C. office.
Register to participate via Webinar.

Program 2
Election 2014: Its Impact on Federal Policy-Making in 2015
Monday, November 3, 2014
2:00 – 3:00 pm EDT

Panelists will discuss changes on key Congressional committees, the agenda for the 114th Congress and the impact on the Obama Administration’s policies and regulatory activities.

Register to attend live in our Washington, D.C. office.
Register to participate via Webinar.

 

 

K&L Gates Legal Insight: Start Your Compliance Engines: CFPB Proposes Rule to Supervise Larger Nonbank Auto Finance Companies

By: Melanie Brody, Anjali Garg, Christa Bieker

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued a proposed rule on September 17, 2014, that would empower the Bureau to supervise certain larger nonbank automobile finance companies. The CFPB proposed the rule pursuant to its authority under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) to supervise nonbank larger participants of certain financial product and service markets for compliance with federal consumer laws.

To read the full alert, click here.

K&L Gates Legal Insight: Is the Third Time the Charm? The Supreme Court to Again Consider Whether the Fair Housing Act Recognizes a Disparate Impact Theory of Liability

By: Paul F. Hancock, Andrew C. Glass, Roger L. Smerage, Olivia Kelman

For the third time in four terms, the United States Supreme Court has granted certiorari to consider whether the Fair Housing Act recognizes a disparate impact theory of liability. Under that theory, a plaintiff may establish liability for actions performed without any intent to discriminate simply because they may have a disproportionate effect on groups sharing certain statutorily defined characteristics, such as race or national origin. In two recent cases, the Supreme Court was set to decide the issue, only to have the parties settle just before argument. Now, in Texas Department of Housing & Community Affairs v. The Inclusive Communities Project, Inc. (the “Texas DHCA case”), the Court has another opportunity to decide the question.

To read the full alert, click here.

If Bernanke Wants to Refinance, Maybe He Needs a Co-Signer?

By: Kristie D. Kully, Laurence E. Platt

While former Federal Reserve Chairman Ben Bernanke may be known for his loose monetary policy, unfortunately his mortgage lender is not. According to Bloomberg News, Mr. Bernanke complained (while addressing a conference of the National Investment Center for Seniors Housing and Care in Chicago on October 2) that he was recently unable to refinance his mortgage loan.

Although Mr. Bernanke reportedly remarked that “it’s entirely possible” that lenders “may have gone a little bit too far on mortgage credit conditions,” it’s hard to blame lenders. Mr. Bernanke may seem to be a good credit risk, but a lender that follows the underwriting standards mandated by the federal Qualified Mortgage (“QM”) regulations can’t make a loan to just anyone.
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K&L Gates Announcement: K&L Gates Receives Top Rankings in BTI’s Litigation Outlook Survey

K&L Gates has been ranked as one of three top law firms as a “Powerhouse” in Class Action and Torts Litigation for the second consecutive year.  The firm was also named as a “Standout” in Securities and Finance Litigation, Complex Commercial Litigation and Routine Commercial Litigation in BTI Consulting Group’s 2015 Litigation Outlook survey.

In addition, the firm was once again included in BTI’s “Honor Roll of Most Feared Law Firms” listing as well as on the honor roll of firms noted by clients for IP Litigation.

The rankings were based on direct client feedback from more than 300 interviews with general counsel and in-house litigation counsel from a wide array of industries.

Click here to read the press release on our rankings.

 

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