Cov-lite loans can leave lenders with limited restructuring options, but creative lenders will still find ways to bring debtors to the table

Financial institutions M&A sector trends: specialty finance/marketplace lending — H1 2019 and outlook for H2 2019

Financial institutions M&A sector trends: credit cards/consumer finance — H1 2019 and outlook for H2 2019

Financial institutions M&A sector trends: brokers/trading service providers — H1 2019 and outlook for H2 2019

Financial institutions M&A sector trends: stock exchanges/clearing houses — H1 2019 and outlook for H2 2019

Financial institutions M&A sector trends: payments — H1 2019 and outlook for H2 2019

Financial institutions M&A sector trends: banks — H1 2019 and outlook for H2 2019

Financial institutions M&A sector trends: fintech — H1 2019 and outlook for H2 2019

The Banking Reform Package marks a milestone in the new EU regulatory landscape.

New guidelines reflect the rise of outsourcing by financial institutions in a new era of disintermediation and technological change.

Within a decade, the UK's peer-to-peer (P2P) financial services sector has moved from an offbeat outsider to an increasingly significant and permanent player in loan and equity markets.

There is no silver bullet for maintaining cross-border trading if the UK leaves the EU without a deal.

The impact of crypto-assets on the global financial system continues to be a subject of debate for regulatory and supervisory authorities.

It is yet unclear if and when the House of Commons will again decide about the Withdrawal Agreement and whether the date for the UK leaving the EU will be changed. Under the current circumstances, a hard Brexit on 29 March 2019 still remains an option.

With the regulatory agenda for the US operations of foreign banks in a state of flux, Kevin Petrasic, Paul Saltzman, Glen Cuccinello, Will Giles and Alexander Abedine of global law firm White & Case provide a map to help boards navigate an uncertain terrain.

The upcoming enforcement of the MREL requirement will require European banks to issue a significant amount of subordinated and senior notes.

Essential features of bank capital regulation across Europe in one handy wall chart.

Partners Julia Smithers Excell and Stuart Willey, and associate Laura Kitchen of global law firm White & Case take a deep dive on the latest publications from EU and UK regulators aimed at providing supervisory clarity on the nascent cryptoasset market.

Key developments, future directions

The CFPB continued to be active in the consumer payments space in 2018, while the Federal Reserve and market participants considered the future of payment processing, including the development of faster payment systems.

The CFPB has traditionally not prioritized marketplace lenders in its supervisory and enforcement efforts. As a result, state regulators have increasingly sought to fill any perceived voids left by the Bureau.

In 2018, the CFPB continued to pay attention to the auto finance industry, with a particular focus on indirect (dealer-arranged) auto lenders and unfair or abusive loan servicing practices.

In 2018, the CFPB shifted away from student lending supervision and enforcement. We anticipate this trend to continue in the year to come, with states seeking to fill any voids left by the Bureau.