Banking & Financial Services special counsel George A. LeMaistre, Jr. authored an editorial piece that was published in the Friday, July 23 issue of the American Banker. Mr. LeMaistre discussed the effects of the oil spill in the Gulf of Mexico on banks and real estate markets in affected areas along and near the coast, as well as measures that banks and their regulators should consider taking to protect the banks' interests, given this unprecedented disaster. In addition, Mr. LeMaistre suggests that state and federal financial regulatory authorities should declare an 18-month moratorium on requiring, as a result of current property appraisals, that financial institutions write down the values of other real estate owned (OREO) situated in coastal areas affected by the spill. To read Mr. LeMaistre's viewpoint piece, please click here (registration required).