Media Mentions – July 2013

July 31, 2013

Authored by: Bryan Cave

With attorneys and staff worldwide, Bryan Cave attorneys are often quoted in the news.  Recent Media Mentions of Financial Institutions Group attorneys include:

Jerry Blanchard in Daily Report

Atlanta Partner Jerry Blanchard was featured July 5 in the Fulton County Daily Report for his hobby of ice climbing. Blanchard generally takes one ice climbing trip a year and has climbed Montmorency Falls near Quebec, ice walls in Banff National Park in Canada, and the Grand Teton and Mt. Moran in Wyoming, among other places. “The interesting thing for me about ice climbing is how it clears your mind,” he told the publication. “When you are on the ice, all other thoughts are pushed from your mind. You focus on where the next ice axe placement is going to be or whether the ice crampons have pushed far enough into the ice.”

Judith Rinearson in New York Times

New York Partner Judith Rinearson was featured July 11 in The New York Times regarding a group of senators who are asking regulators to examine the use of prepaid cards in place of paychecks. Across the country, a growing number of companies are doing away with paper paychecks or direct deposit and instead offering prepaid cards. But critics say using the cards can generate fees. “We strive to ensure we set a high bar with our best practices for our members,” said Rinearson, a lawyer with the Network Branded Prepaid Card Association, a trade group that represents the prepaid industry.  Click here to read the full article.

Dan Wheeler in American Banker

San Francisco Partner Dan Wheeler was quoted June 11 by American Banker concerning the mandatory hike in dividend payments on Troubled Asset Relief Program (TARP) preferred stock for banks that are set to hit their fifth anniversaries. Those dividend payments are scheduled to jump to 9 percent from 5 percent. Many observers fear the higher dividend could motivate banks to stop making quarterly payments or cause more bank sales. Banks that owe TARP funds “unfortunately, with some exceptions, tend to be the weaker banks,” Wheeler said. Banks that are “on the edge already…may decide to forgo” these higher payments. Wheeler also was quoted May 7 by American Banker on a push by private student lenders for permission to be more forgiving of recent college graduates who are having trouble repaying their loans. Under current rules, banks could risk examiners classifying such loans as troubled debt. That accounting designation can lead a bank to set aside bigger loss reserves, which reduces earnings. “So it shifts the key metrics on a bank balance sheet the wrong way, if you’re in management,” Wheeler said.