Premier Banking Law News and Insights

On December 3, 2018, the federal bank regulatory agencies, the National Credit Union Administration and the Financial Crimes Enforcement Network (FinCEN) (collectively, the Agencies), took another step toward fostering new approaches to identifying, monitoring and reporting money laundering, terrorist financing and other illicit financial activity by issuing a Joint Statement...

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Important guidance issued on the new 30 percent limitation on deductibility of business interest On November 26, 2018, the U.S. Treasury released proposed regulations under section 163(j) of the Internal Revenue Code, which, as amended by last year's tax reform, generally limits deductibility of net business interest expense to 30...

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In an ominous sign, Americans' total debt hit another record high, rising to $13.5 trillion in the last quarter, as student loan delinquencies jumped, according to Reuters. Specifically, flows of student debt into serious delinquency – of 90 or more days – rose to 9.1 percent in the third quarter from...

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