Smith Quoted in American Banker Story Titled “Fed Policy Change Could Spur More Banks to Stay Below $1B in Assets”
Jeff Smith, a partner in the Vorys Columbus office and a member of the corporate group, was quoted in an American Banker story on a finalized Fed rule that lets smaller banks finance deals with up to 75% in debt.
The story states:
“The change was an acknowledgement by policymakers that 'smaller, non-complex institutions don't present the same risk to the system' as bigger banks, said Jeffery Smith, a lawyer at Vorys, Sater, Seymour and Pease.
For instance, qualifying banks must meet certain criteria, including a requirement that they do not engage in 'significant nonbanking activities.'"
To read the entire story, visit the American Banker website. (Subscription required).