Though cannabis’ status as a Schedule 1 controlled substance has hampered the industry’s ability to fully integrate into the digitally dominated payment world, with credit card issuers refusing to process cannabis transactions, cannabis businesses have historically been able to enjoy similar benefits of efficiency, convenience, and security with debit cards. However, MasterCard’s recent ban on...
Joseph Cioffi was quoted in the SCI article, "Skid Marks - Sub-Prime Auto Abs Shows Sign of Pain".
“The market is resilient” was the mantra throughout the pandemic. Now that the Federal Reserve is at an inflection point on interest rate hikes and the pause on student loan payments is set to end after three years of relief, “the market is vulnerable” may be a more appropriate refrain. In fact, the cracks have started to show, particularly in subprime auto ABS.
Joseph Cioffi was quoted in the SCI article, "Litigation Looms".
An inescapable result of high interest rates and post-pandemic trends is downward pressure on commercial real estate valuations, especially in the office sector. Given commercial mortgage-backed securities and other deal structures in which control of the loan rests with the lowest priority interest that is in the money, reduced valuations will likely become the flashpoint for CRE litigation.
Joseph Cioffi was interviewed for an Auto Remarketing podcast episode, "Talking Compliance and Risk with Davis+Gilbert Partner Joseph Cioffi."
Commercial real estate (CRE) sectors have not escaped the perma-crisis era in which we live, and the worst appears yet to come. First, hospitality and retail suffered setbacks with pandemic lockdowns. Then, the persistence of work-from-home and employee resistance to returning to the office drastically changed the flow of workers to the office and urban centers. Now, before those issues are...