New Federal Act Relaxes Dodd-Frank Banking Sector Regulations

An Atlanta law partner with King & Spalding, LLP, which maintains a global presence, Zachary Andrew McEntyre handles corporate defense matters, including those related to insurance recovery and class-action suits. A recent posting by Zachary Andrew McEntyre’s firm brought attention to President Donald Trump’s May 2018, signing of the Economic Growth, Regulatory Relief, and Consumer Protection Act. 

Described as the most significant effort in curtailing oversight of the banking sector since the passage of Dodd-Frank in 2010, the new Act’s areas of regulatory focus include mortgage lending as well as regulatory relief spanning banks, securities markets, and consumer protection.

Among the major changes is a boost to consumers’ mortgage credit access, with certain mortgage lending rules relaxed or exempted. This includes an elimination of higher-cost mortgage escrow rules, which required that lenders evaluate borrowers’ loan-repayment ability. In addition, escrow requirements are eliminated from a number of higher-cost mortgages. 

Another area of focus is on narrowing the criteria employed when deciding whether banks should come under stronger prudential regulation as “systemically important financial institutions” (SIFI). With the SIFI threshold rising immediately from $50 billion to $100 billion, it will increase again to $250 billion within 18 months.

Burton Awards in Law

Zachary Andrew McEntyre has been part of King & Spalding LLP since 2006, where he deals with complex commercial litigation. One thing Zachary Andrew McEntyre has been recognized for during his time with the firm is the quality of his legal writing, for which he received a Burton Award.

Burton Awards are presented for excellence in the field of law in several categories. Members of the largest law firms in the nation can receive Distinguished Law Firm Writing Awards, which are granted for an article published within the last year. The limit on which firms can participate ensures that judges will have time to review all submissions.

One exceptional corporate general counsel receives the Legends in the Law Award each year, and a luncheon is held to honor these individuals at the Members’ Room of the Library of Congress. Awards are also given not to practicing lawyers but to others involved with the legal profession, such as reporters who cover legal issues or law school teachers. Most awards are given each year, but some are granted less frequently, warranted only by an extraordinary contribution to the field.

Basic Training App Helps Georgia Service Members

Selected as a lawyer “On the Rise,” Zachary Andrew McEntyre is a partner at the Atlanta, Georgia, law firm King & Spalding, specializing in commercial litigation. Involved primarily in class-action claims, Zachary Andrew McEntyre focuses on handling the defense of complex litigation cases.

In the state of Georgia, consumers are protected from unlawful and deceptive practices by the Department of Law, Consumer Protection Unit (CPU). The CPU is responsible for promoting fair competition, investigating deceptive activity, enforcement, and providing educational tools. One of these tools is the recently released mobile app Basic Training.

Designed specifically for military service members based in Georgia, the app informs members of business scams and predatory business techniques which can harm a veteran’s or active service member's personal finances, affect their credit rating, and even threaten their ability to gain or maintain security clearances. The app also advises users about important financial issues such as lowering the risk of identity theft, managing credit, and understanding Military Lending Act protections.