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Category: Banking & Finance

BOI Injunction Remains in Place

By fridayfirmdev

On Thursday, January 23rd, the U.S. Supreme Court issued a stay of the nationwide injunction banning enforcement of the BOI filing requirements in the case Texas Top Cop Shop, Inc. v. Garland. Many reports jumped to the conclusion that….

Nationwide Injunction Temporarily Halts Compliance Requirements

By fridayfirmdev

On December 3, 2024, the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction that enjoins the federal government from enforcing the Corporate Transparency Act (the “CTA”). The Corporate Transparency Act went into effect January 1, 2024, and requires all reporting companies to file information about the beneficial owners of the company the with Financial Crimes Enforcement Network (“FinCEN”).

Five Things Every Business Owner Should Know

By fridayfirmdev

The Corporate Transparency Act (CTA) was enacted in 2021, but implementation of the new law was delayed on several occasions. As of January 1, 2024, however, the CTA’s beneficial ownership reporting requirements are in effect. This alert reviews critical points every business owner should consider in determining the steps necessary to comply.

Firm Host Reception Honoring State Bank Commissioner Susannah Marshall

By fridayfirmdev

A highlight of the evening was remarks from the guest of honor, State Bank Commissioner Susannah Marshall. Marshall expressed her gratitude and reflected on her tenure since 1994.

“I am deeply honored by this gathering and the opportunity to serve the people of Arkansas in my role as State Bank Commissioner. It is through collaboration with dedicated professionals, like those gathered here today, that we continue to strengthen the foundation of our state’s financial institutions. I am grateful for the trust and support of the banking community.”

Arkansas Banks Face Increased Regulation Based on Asset Growth

By fridayfirmdev

Banks in Arkansas and throughout the country have experienced substantial asset growth in recent years.  The Annual Report of the Commissioner of the State Bank Department in 2017 listed 80 state-chartered banks with combined total assets of approximately $85.2 billion (average of $1.065 billion per bank).  In June of last year, the annual report listed … Continued

Federal Agencies Finalize Policy Statement on CRE Loan Accommodations and Workouts

By fridayfirmdev

By: Robert SmithCommunity Bank Minute:  Federal Agencies Finalize Policy Statement on CRE Loan Accommodations and Workouts On June 29, 2023, the Federal regulatory agencies issued a joint policy statement on prudent commercial real estate loan accommodations and workouts to update an existing policy statement released in 2009.  The statement finalizes guidance proposed last year and … Continued

Firm Welcomes New Partners

By fridayfirmdev

Friday, Eldredge & Clark, LLP is proud to announce Taylor A. Stockemer and Kael K. Bowling as the firm’s newest partners. Taylor, a highly accomplished professional with a diverse background in Mergers & Acquisitions, securities and investment banking, and regulatory law and Kael, who serves as litigation counsel to financial institutions, creditors, real estate and construction firms, and other business entities.