Financial Services
Posted by:
Micah J. Nichols and William J. Barkimer
on May 26, 2021
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…
Read More
Posted by:
Maria Vladimirova Geltz
on May 13, 2021
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…
Read More
April 23, 2021
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…
Read More
Posted by:
Kendall A. Schnurpel and Kyle P. Chambers
on April 20, 2021
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…
Read More
Posted by:
Scott S. Morrisson, Brett J. Ashton, and Blake P. Holler
on April 7, 2021
The TCPA Issue
There has been a significant amount of litigation over the past few years regarding the Telephone Consumer Protection Act (“TCPA”) on the issue of whether banks or credit unions are violating the TCPA when they call their customers using certain automatic telephone…
Read More
Posted by:
Brett J. Ashton
on March 29, 2021
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…
Read More
Posted by:
Brett J. Ashton
on January 13, 2021
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…
Read More
Posted by:
C. Daniel Motsinger
on January 6, 2021
The United States Bankruptcy Court for the District of New Mexico recently held that a federal credit union chartered under the Federal Credit Union Act, 12 U.S.C. §§ 1752, et seq., constitutes an “instrumentality of the United States” included in the definition of a “governmental unit” under the…
Read More
Posted by:
Brett J. Ashton, C. Daniel Motsinger, and Maria Vladimirova Geltz
on December 16, 2020
On October 30, 2020, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule (“Final Rule”) that amends Regulation F, 12 C.F.R. part 1006, which implements the Fair Debt Collection Practices Act, 15 U.S.C. 1692, et seq. (“FDCPA”).
The Final Rule addresses communications…
Read More
Posted by:
Brett J. Ashton and
on June 30, 2020
On June 29, 2020, the United States Supreme Court ruled on Seila Law v. Consumer Financial Protection Bureau.1 The Court held that the Consumer Financial Protection Bureau’s (“CFPB”) leadership by a single director removable only for “inefficiency, neglect of duty, or malfeasance in office”…
Read More
|