News & Events
"The PFAS Dilemma"
At a Glance
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As the story over Per- and polyfluoroalkyl substances (PFAS) continues to unfold, experts are divided on whether the associated risks amount to overblown hysteria or represent the next big environmental threat. Media reporting, Netflix documentaries, and thought provoking films like “Dark Waters” are shining a light on this class of problematic compounds referred to by many as “forever chemicals” due to their persistence in the environment and the human body.
Polling conducted at the January 2020 EBA Conference in Phoenix revealed that none of the 25 lenders participating had PFAS-specific due diligence polices at that time. More lenders expect to integrate PFAS into their CRE due diligence procedures in the near future, responding to recent steps by the EPA and States to begin regulating PFAS. As the science surrounding health and environmental impacts advances, regulators are grappling with a rapidly evolving knowledge base and uncertainty over the future of PFAS regulation. Federal and state regulators have responded with a number of initiatives – from drinking water standards and remediation guidance to reporting requirements. Simultaneously, PFAS litigation is being filed across the country, establishing new precedents through the courts in the absence of legislative or regulatory mechanisms.
This must-see webinar will focus on the risks for lenders in this dynamic and evolving regulatory environment and provide guidance on how to identify and manage PFAS risk in lending. The presentation will highlight the uptick in PFAS litigation claims and potential for significant damage awards and settlements. Chances are that many lenders already have PFAS sites in their portfolios, and soon will need to consider what steps to undertake to proactively mitigate risks. Tune in and find out!