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Search OptionsFinancial ServicesMandatory Federal Registration Requirement for High-Volume Paper Bankruptcy Notice Recipients Effective December 1, 2021
As noted recently by some United States Bankruptcy Courts, effective December 1, 2021, the Director of the Administrative Office of the United States Courts (the “AO”) has designated any entity that receives 100 or more paper bankruptcy notices in a single calendar month as a high-volume paper… Federal Agency Raises Lending Concerns Within Hemp Industry
On July 12, 2021 the U.S. Farm Credit Administration (“FCA”), the federal agency that regulates farm lending, issued an informational memorandum (“Memo”) to its network of farm credit institutions. The Memo recommends considerations when deciding whether to provide financing to farmers seeking to… Arbitration Clauses: Things Every Financial Institution Should Consider Before Agreeing to Arbitrate [WEBINAR]
Partners Libby Yin Goodknight, Scott S. Morrisson, and Brett J. Ashton hosted a webinar on Arbitration Clauses: Things Every Financial Institution Should Consider Before Agreeing to Arbitrate. A recording of the webinar and the slides from the presentation are available here. Want to Change a Joint Account? Put it in Writing!
Recently, the Indiana Court of Appeals issued an opinion that offers some guidance on how to properly change a joint account with rights of survivorship while living. In Solomon v. Lindsey, 163 N.E.3d 302 (Ind. Ct. App. 2020), Paul Martin (“Martin”) opened an account with Rydex Series Trust. On the… CFPB Proposes Two Measures to Address Ongoing COVID-19 Pandemic Concerns
Proposed Rule to Postpone Implementation of Debt Collection Final Rules to January 29, 2022 In late 2020, the United States Consumer Financial Protection Bureau (“CFPB”) issued final rules to revise Regulation F, 12 C.F.R., part 1006, which implements the federal Fair Debt Collection Practices Act… SEA 370 Signed Into Law, Effective Immediately
Indiana Governor Holcomb signed Senate Enrolled Act 370 into law yesterday, providing a clear restatement of the statute of limitations to be applied for purposes of resolving disputes regarding deposit accounts. As we have written extensively over the past two years, Indiana’s banks and credit… Secure and Fair Enforcement (SAFE) Banking Act Passes U.S. House…Again
On Monday, April 19, 2021, the U.S. House of Representatives passed the Secure and Fair Enforcement Banking Act of 2021 (the “Act”). The legislation was reintroduced in Congress in late March through a bipartisan effort involving members of both the U.S. House of Representatives (House) and the… Supreme Court Confirms that to Violate the TCPA your Automatic Telephone System Must Use a Random or Sequential Generator
The TCPA Issue The Illinois Predatory Loan Protection Act is Signed into Law - Regulatory FAQ and PLPA Reporting Notice Released
On March 23, 2021 Illinois Governor J.B. Pritzker signed Senate Bill 1792 ("SB 1792") into law, making the “Illinois Predatory Loan Prevention Act” (“PLPA” or the “Act”) immediately effective. The PLPA is a far reaching law that every lender directly, or even indirectly conducting business in… Indiana Financial Institutions Continue to be Targeted in Class Action Overdraft and NSF Lawsuits
Over the past two years, no fewer than seventeen Indiana banks and credit unions have been targeted with class action lawsuits based on their overdraft fee practices (“Overdraft Cases”), their non-sufficient funds (“NSF”) fee practices (“NSF Cases”), or in many instances, both. While many of these… Illinois Legislature Passes Sweeping Changes to Consumer Lending Laws
Early this morning the Illinois legislature passed and sent to Governor Pritzker for signature, one of the most restrictive consumer lending bills seen in decades that, if signed, will have far reaching implications for not only the payday lending and sub-prime lending industry, but traditional… |
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