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In 2022, the Uniform Law Commission adopted new amendments to the model Uniform Commercial Code ('UCC') to address cryptocurrency transactions, including secured lending involving digital assets. These amendments have been [...]

Introduction As observed with the rescue of Silicon Valley Bank (SVB) and Signature Bank, the systemic risk exception allows the Federal Deposit Insurance Corporation (FDIC) to intervene in situations where [...]

When the history books are written, it may be said that the biggest event to shake the crypto world was not the crypto bankruptcies of 2022, but rather, the clawback [...]

(September 21, 2023) - Joseph Cioffi and Nicole Serratore of Davis+Gilbert LLP discuss market and litigation risks and regulatory response involving commercial real estate, particularly in the office sector. Adverse [...]

New York's recreational cannabis industry has the potential to be a multibillion-dollar industry. Yet, in the first year of legality, New York cannabis is struggling to generate the expected tax [...]

You may have heard this before: As cannabis remains a Schedule I drug under the federal Controlled Substances Act ('CSA'), cannabis companies cannot seek bankruptcy relief under federal law. Not [...]

Prompted by the collapse of Silicon Valley Bank (SVB) on March 10, 2023, depositor fear has spread to thousands of other regional and community banks across the nation, despite extraordinary [...]

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, [...]

Despite increased legalization at the state level of medical and adult-use recreational marijuana, illegality of non-hemp, cannabis at the federal level as a Schedule 1 controlled substance under the Controlled [...]

As we learn more about FTX's operations, speculation is slowly giving way to certainty. It's clear FTX's collapse will have a deep impact on the future of regulations, its bankruptcy [...]

The 'Location, Location, Location' mantra intended to mean the three things that matter most in real estate should be replaced by 'Valuation, Valuation, Valuation.' Valuation is the foundation of a [...]

If economic forces such as rising consumer debt and inflation overcome deal structures and credit enhancements in consumer ABS (e.g., auto, residential mortgages, credit cards), the ensuing battles over loss [...]

'Winter is coming. We know what's coming with it.' - Jon Snow, Game of Thrones, A Song of Ice and Fire Despite record-breaking heat waves setting wildfires across the globe [...]

Like a car on a bridge buffeted by strong winds, subprime auto lending will be challenged on several fronts as it approaches the other side of the pandemic. Turns out, [...]

Sometimes you have to get a 'maybe' before you can get a 'yes.' That's apropos of the long path to acceptance of new methods in well-established markets with well-worn channels [...]

Davis+Gilbert recently attended the Benzinga Cannabis Capital Conference, where the most significant and influential industry participants met to discuss the opportunities and challenges of funding growth in the cannabis industry. [...]

Investors and lenders focused on environmental, social and governance (ESG) principles will find opportunities for 'green' financing in cannabis, but risk abounds as the truthfulness of ESG claims and disclosures [...]

Inflation forecasts have piqued investors' interests in adding more real estate to their portfolios, while new technologies and geographic, climate and consumer trends are driving the need for creative and [...]

The chances of success greatly improve when you start with a clear goal, set measurable standards, and execute on the plan. So it's fair to say New York City has [...]

Student loan forgiveness efforts are stalled, federal agencies are attacking educational legal issues from a variety of angles, and coordinated action among agencies and attorneys general are expected to increase. [...]

Delinquencies and losses should be the canary in the coal mine for performance trends, but they can also wag the dog, drawing attention away from looming issues. In subprime lending, [...]

In recent months, SEC Chair Gary Gensler has referred (on more than one occasion) to crypto as the 'Wild West.' As cliché as that may sound, the shoe, or boot, [...]

With a full plate of health, safety and security priorities on the table and the challenge served up by a deeply divided Congress, the prospects are dim for substantial student [...]

As the economic crisis impairs the value of commercial mortgage-backed securities (CMBS) that collateralize loans to real estate investment trusts (REITs) to finance their investments, there is the prospect of [...]

Here's something you don't see much of these days, a market doing well and with the potential for real 'green' shoots. With an emphasis on social responsibility and community support, [...]

'Madness . . . is like gravity, all it takes is a little push.' - The Joker, The Dark Knight, 2008 As our readers know, as far back as 2017, [...]

Perhaps no credit market is as much a bellwether for the economic crisis caused by the COVID-19 pandemic than commercial mortgage-backed securities (CMBS). While the impact of relief programs on [...]

A review of market performance since the start of the COVID-19 crisis could lead one to ponder a new existential question: Can there be pending doom, if there's no gloom? [...]

Few participants involved in the federal government's Paycheck Protection Program (PPP) will likely be able to escape criticism once the program is all said and done. For the marketplace lenders [...]

Settling a circuit split, the U.S. Supreme Court, in an 8-1 decision, has concluded that a trademark licensee's rights are not automatically terminated when a debtor in bankruptcy rejects the [...]

Success stories of marketplace lending in consumer credit markets are plentiful. They provide models of success for lenders seeking to leverage technology to reach underserved markets, but along with the [...]

Sometimes, it's what you can't see that matters most. First, the bad news: after years of economic growth and generally good times, consumers' credit scores may be inflated. Like 50 [...]

This is part two of our interview with the executive team at CAR Financial Services, a subprime auto finance company with over 25 years of experience providing customized backup and [...]

If subprime auto delinquencies continue to rise and the risks continue to grow, it will be cold comfort to those who saw it coming, if they haven't taken protective measures. [...]

Red and blue is the new black and white, but the country could use a lot more purple. Seems few can take a position publicly these days unless it's extreme [...]

Democrats on a House subcommittee demanded answers Thursday from Health and Human Services officials regarding how many children were actually separated from parents during the 'zero tolerance' policy last spring [...]

Like Ali v. Frazier II and III, it's not much of a rivalry if one side keeps winning the decision.The battle began when the Department of Education fired a shot [...]

No one had suffered any losses, or at least it seemed no one could remember having done so. S&P had not downgraded any subprime auto loan ABS since just after [...]

Move over mortgages - there's a new kind of real estate that could benefit from a new type of funding. As higher interest rates and rising prices are making affordable [...]

Byline: Sam Cioffi Born in 1952, Rene McKinstry grew up in the neighboring town of Hamilton. While growing up 20 minutes from Oxford and attending a junior high school a [...]

It's back to school time, and there's so much noise about a student loan crisis that there's a need to corral all the noisemakers and to gain an understanding of [...]

There's a caution flag out for subprime auto loan securitizations. The Class C tranche of Honor Finance's HATS 2016-1 - the deal that jump-started the debate as to how low [...]

Originations and Issuances, by the Numbers To date since the inception of Property Assessed Clean Energy (PACE) financing, $5.17 billion has been advanced to homeowners under residential PACE (R-PACE) programs, [...]

'They are who we thought they were!' Observing the rising tide of borrower delinquencies in subprime auto lending, I'm reminded of that famous outburst by the former NFL coach, Dennis [...]

ABS Issuances, by the Numbers Seven securitizations totaling $4.3 billion closed in Q1 2018, up 34% versus a year ago and representing the second-highest issuance in any quarter (after Q4 [...]

Originations and Issuances, by the Numbers Student loan debt rose to $1.52 trillion in Q1 2018, up from $1.44 trillion a year earlier, and now accounts for 10.7% of the [...]

Usury has made quite a comeback from the dust heap of old law treatises to become a crucial concept that has shaped modern credit markets. It recently returned to public [...]

For all the talk about Dreamers in the national immigration debate, a recent research paper positing the positive effect of erasing the nation's $1.3 trillion student debt burden has given [...]

Byline: Todd Cioffi As a parent, I can't imagine having to bury one of my daughters after she had been gunned down at school. But this is the case for [...]

Wells Fargo is being put on a highly restrictive diet by the Federal Reserve and won't get any relief until its compliance and governance shape up. Under the terms of [...]