Should additional FDIC-regulated banks fail, there is no guaranty the FDIC will adopt the same measures it adopted with SVB and Signature Bank (Signature), which entered receivership on March 12, 2023, just days after the commencement of SVB’s receivership. As evidenced by recent actions taken to save (at least for the time being) First Republic Bank and Credit Suisse, the banking system remains...
Joseph Cioffi was quoted in a Banking Dive article, "Regulators Backstop SVB Deposits, Launch Emergency Lending Facility."
Joseph Cioffi was quoted in a Law.com's Corporate Counsel article, "SVB's Failure May Constrict Flow of Capital to Some Startups."
Joseph Cioffi was quoted in The American Lawyer article, "Signature Bank’s Failure Prompts Alarm Bells for Law Firms."
Around the time Reuters published our article regarding bankruptcy eligibility, the U.S. Bankruptcy Court for the Central District of California (LA Division) issued a decision in In re The Hacienda Company, LLC, that thoughtfully articulates the balancing of governmental policies, bankruptcy purposes and creditors’ rights a bankruptcy court should engage in when dealing with cannabis and...
Joseph Cioffi was quoted in an SCI article, "Lightning Rod?," regarding the CFPB's suit against subprime auto lender, Credit Acceptance Corporation.
Going forward, it looks like crypto companies that make it in New York will be able to make it anywhere. All over, at the state and federal level and internationally, turmoil in the crypto industry is leading to increased scrutiny. In New York, home of the comprehensive (some would say onerous) BitLicense, cryptocurrency mining has been partially banned and the New York State Department of...
