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For the past four years, the NAIC has been rethinking how much capital life insurance companies should hold against their investments in collateralized loan obligations (CLOs) — essentially, packages of corporate loans that insurers have increasingly turned to for higher returns. In a new episode of Financial Services Focus, partners Lauren Pryor and Larry Hamilton walk through the biggest changes to hit insurance company investment portfolios in years, and explain why the ripple effects will reach well beyond CLOs. As you move down the credit spectrum, charges rise sharply, in some cases more than doubling. For the first time, the rules account for "tranche thickness": thinner, lower-rated tranches now carry dramatically higher capital charges because they're more vulnerable to sudden losses. These new factors take effect for year-end 2026 calculations, meaning insurers need to be modeling the impact now. Perhaps the most consequential development discussed in this episode isn't a rate table at all. Listen to the newest episode now.

In this episode of Mayer Brown's Financial Services Focus, real estate partner Michael Weiss and Michael Cohen of Brighton Capital Advisors discuss the current state of the U.S. distressed commercial real estate market, with particular emphasis on CMBS and CLO loan workouts. The conversation explores why multifamily, office, and hotel assets face mounting pressure from high interest rates, overleveraging, and an approaching wave of loan maturities—and why conditions may be worse than widely reported. Cohen draws on over 30 years of Commercial Real Estate securitized lending experience to outline practical strategies for borrowers, stressing the importance of early engagement, assembling the right advisory team, and understanding loan document nuances before distress escalates. The episode concludes with actionable guidance for sponsors seeking to protect their interests and position themselves for successful outcomes in an increasingly challenging refinancing environment.

In this episode of Financial Services Focus, Mayer Brown partner Lauren Pryor is joined by John Guzzo, Managing Director at Houlihan Lokey; Dan Thompson, CEO of Preferred Mortgage Services; Romalene Tolentino, Founding Partner of Preferred Mortgage Services; and Rajesh Bhat, Board Member of Preferred Mortgage Services and former founder and CEO of Roostify, for a wide-ranging conversation on the forces reshaping the mortgage servicing market. The panel examines how post-crisis regulatory shifts and rising technology demands have driven significant consolidation among servicers and their vendors, why outsourcing is increasingly oriented toward access to specialized expertise rather than simple cost reduction, and how cloud-based platforms are beginning to modernize historically manual processes such as investor reporting and exception management. The discussion also addresses the promise and risks of generative and agentic AI in a highly regulated environment—from automating exception resolution and document processing to the critical importance of human-in-the-loop guardrails, robust audit trails, and evolving liability frameworks.

Summary: In this episode of Financial Services Focus, Kris Kully and EY Managing Director of Financial Services Brian Clark discuss the Consumer Financial Protection Bureau's proposed rule under the Equal Credit Opportunity Act (ECOA) and its implications for financial institutions. They explore the nuances of disparate impact, the role of special purpose credit programs, and the marketing practices that may discourage applicants. The conversation highlights the regulatory changes and the importance of understanding the underlying risks in lending practices.

The United States has had a one cent coin since the founding of the nation and on Wednesday, November 12, the last American penny will be minted. Even though the relative value of one cent declined to the point that many would forego picking pennies up from the street, the concept of a cent remains a key part of commercial transactions. In the absence of legislation, the official, financial and commercial sectors have been left to their creativity to implement with the phase-out of the penny. This podcast discusses the legal issues associated with the end of the physical penny and what it means for financial institutions and commercial businesses.

Dividend arbitrage is a long-standing, historic issue in the financial services industry. It continues to impact businesses in numerous jurisdictions across Europe and has the potential to affect more- including in the United States- following recent successful lawsuits involving pension funds. This episode of our Financial Services Focus updates on developments following our June 2025 webinar.

The podcast dives into the fast-evolving world of stablecoins, explaining how these dollar-pegged digital assets are transforming payments with speed, transparency, and fractional flexibility. We also delve into the GENIUS Act's bold framework, which would create bespoke AML and sanctions obligations for permitted payment stablecoin issuers—moving beyond the awkward "square peg, round hole" of legacy rules.

In this episode of the Financial Services Focus Podcast, we'll examine changes in federal enforcement actions, financial penalties, and what these signal for the future under the Trump Administration. Additionally, we discuss the emergence of new risks—such as the expanded use of the False Claims Act in areas like DEI lawsuits, tariff evasion, and healthcare fraud.

In this episode, our host Lauren Pryor is joined by Chris Gough and Michael Linger from Houlihan Lokey to discuss recent trends in Mortgage M&A, including consolidation among originators and servicers and developments in PropTech.

In this episode, host Lauren Pryor and her colleagues discuss the recent actions by FinCEN, which designated three Mexican financial institutions as primary money laundering concerns under the expanded Section 311 authority, strengthened by the Fend Off Fentanyl Act. This designation aims to disrupt fentanyl-related financial crime by prohibiting U.S. financial institutions from processing transactions involving these entities. The discussion highlights the broader U.S. government effort to combat cartels, drawing parallels to post-9/11 actions against terrorist financing.

In this episode of Financial Services Focus, Lauren Pryor and her colleagues discuss a recent Delaware Chancery Court opinion that reinforces Delaware's pro-sandbagging stance in M&A transactions. This conversation covers the implications of this ruling, particularly regarding the interpretation of representations and warranties, the use of transaction multiples for calculating damages, and key takeaways for buyers and sellers in Delaware M&A transactions.

Join us for a new episode of Financial Services Focus, with partner Lauren Pryor, co-lead of the Financial Services Product Team, and Brad Peterson, a partner at the firm's Chicago office and member of the Technology & IP Transactions practice. They are joined by John Guzzo and Ted Conway, Managing Directors at KBW, to dive into the evolving world of mortgage servicing technology trends. Together, they discuss the latest trends in mortgage servicing M&A, the mortgage tech landscape, outsourcing trends, opportunities for consolidation among technology vendors, and the challenges and opportunities that come with technology adoption in this space. Additionally, Lauren and Brad explore the impact of generative AI on mortgage servicing contracts.

Join us for a new episode of Financial Services Focus with partner Eric Mitzenmacher and associate Kerri Webb, as they discuss the CFPB's recently proposed FCRA rulemaking, which, if finalized as proposed, would affect the availability and use of certain information about consumers—particularly with respect to data brokers. In this episode, we provide some background on the proposed data broker rule, the CFPB's goals for the proposal, and the potential impacts of the rule if enacted.

Join us for a new episode of Financial Services Focus with partners Gina Parlovecchio and Matthew Bisanz, and associate Kelly Truesdale, as they discuss FinCEN's recent confirmation that reporting companies are not required to file beneficial ownership reports for as long as the current nationwide injunction of the CTA remains in effect. In this episode, we cover how we got here, the court's reasoning for this decision, the next steps the government is likely to take, and what companies can do to prepare now. For more details please see: In Brief: FINCEN Confirms Suspension of Corporate Transparency Act Filing Obligations During Nationwide Injunction FINCEN Confirms Suspension of Corporate Transparency Act Federal Court Suspends Enforcement of Corporate Transparency Act Nationwide Federal Court Declares The Corporate Transparency Act Unconstitutional

Join us for a new episode of Financial Services Focuswith partner Martin Heuber, leader of the German office's Banking & Finance practice. In this episode, we discuss the impact of current events in Europe on the private debt market in Germany, particularly how these developments are affecting the quality of transactions handled by alternative lenders, and why debt funds are entering the market right now. We also explore the regulatory barriers lenders encounter when entering the market and provide insight into the legal environment, examining whether it favors borrowers or lenders.