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Charging a Debtor’s Interest in a Business Entity: An Examination of the...
by David S. Brown, Esq. A charging order is the exclusive remedy by which a judgment creditor can attach a debtor’s membership interest in a limited liability company, or a debtor’s economic interest...
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Does an IRS Lien Trump Your Interest in a Debtor’s Property?
by Amanda R. Yurechko, Esq. Often times a debtor will try to minimize their apparent collectability by telling a creditor that, “…the IRS has a lien on everything.” While, if true, this gives you an...
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When Determining if Credit Card Charges are “Debts” Within the Meaning of the...
by Andrew C. Voorhees, Esq. Credit Card debt is among the largest sources of personal debt in the United States. Lenders issue Credit Cards to both consumers as well as businesses. When an obligor...
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The lottery, incentives and dividends.
Would you play the lottery if the winnings were taxed at 99%? Do you think that most people would? It seems like an easy question and an even easier answer, nearly rhetorical in fact. Most people...
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Current Issues in Credit Unions #73.
This month Faith, Katherine and Rob bring you the following: –Multi-Featured Open-End Lending (MFOEL) –Treatment of 2nd mortgages in 1st position on the 5300 –Member incentives. –Bank fined for SSCA...
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A duty to modify a home loan?!
Some mornings, I will listen to NPR to catch the news. I caught the tail end of a piece on mortgages and foreclosures. They had a plaintiff’s lawyer talking about how bad banks are and the announcer...
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Outsourced Cloud Computing: FFIEC Warns of Pitfalls
By Amanda R. Yurechko, Esq. On July 10, 2012 the Federal Financial Institution Examination Counsel (FFIEC) issued an opinion on cloud computing and the associated risk to the financial industry. Cloud...
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That September Feeling.
Suddenly, it’s not light out when I wake up in the morning and the evenings aren’t sunny after 9 anymore. Labor day has been and gone leaving us with kids back at school, change in the air and the...
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Current Issues in Credit Unions 74.
CIiCU 74 is up with our full cast to start off the fall. This month, Faith, Hal, Guy, Katherine & Rob talk about: the changes at NCUA, the reality of low-income designations, unanswered questions...
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The Compliance Artist.
By: Sarah Stevenson. Oftentimes when I am asked my educational background and I respond with; “Well, I have a Bachelor of Fine Arts…” I am stopped short with the following question; “How on earth did...
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Offering a solution with a complaint.
by: Rob Rutkowski Last year, our new Managing Partner-elect, Scott Weltman, appointed various lawyers throughout our firm to be Office Managing Attorneys (OMAs) to handle local issues that may arise...
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NOCA Luncheon Featuring Sharon Asar from the CFPB
The Northern Ohio Credit Association (NOCA) is hosting a luncheon on Tuesday, May 21, featuring presenter Sharon Asar, the Associate Ombudsman for the Consumer Financial Protection Bureau (CFPB)....
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Financial Institutions that Deny Credit to Applicants based on U.S. Citizens...
By David S. Brown, Attorney Lending officers should be aware that an applicant’s national origin is one of the prohibited bases listed in the Equal Credit Opportunity Act (“ECOA”) and 12 CFR 202...
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Increased Filing Fees for Illinois Residential Real Estate Foreclosures
By Carolyn M. Artus, Attorney Illinois’ new law[1] imposing additional court filing fees for residential real estate foreclosure cases is now in effect. The new law has a three-tier fee schedule...
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New Stuff.
We strive to post content 3 times a week. We fail miserably, but that’s what we strive for. It is no secret among bloggers that the hardest part of keeping a blog relevant is generating good content....
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CIiCU #77 is coming.
Yes, we are definitely getting the band back together (Guy actually came up with that). On 7/31, our intrepid band of credit union lawyers will be returning to the internet airwaves to bring you...
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Changes to Reg Z and Mortgage Lending Rules Part 1.
This is the first of what I hope will be an informative series on the 2014 changes to Regulation Z and Mortgage lending (part, the first).
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Changes to Reg Z and Mortgage Lending Rules Part 2.
This is the second of what I hope will be an informative series on the 2014 changes to Regulation Z and Mortgage lending.
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Changes to Reg Z and Mortgage Lending Rules Part 3
This is the third of what I hope will be an informative series on the 2014 changes to Regulation Z and Mortgage lending.
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CFPB Mortgage Rules
By David A. Wolfe, Attorney On May 29, the Consumer Financial Protection Bureau (CFPB) finalized several amendments to its ability-to-repay and qualified mortgage rules. Originally adopted in January...
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