The following Banking & Finance guidance note Produced in partnership with Jiranek, P.A. provides comprehensive and up to date legal information covering:
The loan markets in Maryland have been impacted by a rollback in government finance regulation and enforcement that accompanied the installation of Donald Trump as President of the Executive Branch of the Federal Government. At the same time, improvements in information technology, including its adoption and use by the public, has fostered a burgeoning finance industry that operates outside of our long established banking and money system.
The financial crisis that extended from 2007–2010, and the regulatory response thereto, forever altered the landscape of lenders. The large banks were the winners, and they gained market share. These financial institutions were better positioned to take advantage of the repeal of legislation prohibiting a bank from simultaneously engaging in commercial and investment banking business. They were better able to offer loans and portfolio them, as well as sell them in the secondary market, and retain servicing rights. These institutions had better access to the capital markets. They also had the size and scale to comply with increased regulation that was designed to prevent a recurrence of the developments that lead to the financial crisis. As the Trump Administration has rolled back or neglected enforcement, these
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