As a result of the Great Recession from 2007 to 2009, the law known as the Dodd-Frank Financial Reform Act was enacted, which put restrictions and substantial reporting requirements on banks. Last week, President Trump signed into law a reform of the Dodd-Frank Act. The reform increases the banks that are not subject to the stricter federal oversight of the law from banks with assets of $50 billion dollars to banks with assets of $250 billion dollars. Theorizing that the banks excluded from the law will be able to perform better with less regulation, many pundits predict a substantial uptick in merger activity in the banking industry.
ABOUT GLENN D. SOLOMON
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Glenn D. Solomon is a principal at Offit Kurman and has provided counsel to businesses and business owners for more than twenty-five years. He has extensive experience in the purchase and sale of businesses, structuring ownership agreements, and advising companies in financial distress.
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the Mid-Atlantic region. With over 170 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our ten offices serve individual and corporate clients in the Maryland, Delaware, New Jersey, and Northern Virginia markets, as well as the Washington DC, Baltimore, Philadelphia, and New York City metropolitan areas. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
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