On April 24, 2013, the CFPB released a white paper of initial data findings regarding a study the CFPB conducted into payday loans and deposit advance products.1 Based on its findings, the CFPB concluded that these products were harmful to consumers because they are provided without adequate analysis into an […]
Banking Update
How the New Transfer-on-Death Deed Rules Affect Your Bank
On April 5, 2012, Nebraska Governor Dave Heinemen signed the Nebraska Uniform Real Property Transfer on Death Act (the “Act”) into law. This law was effective as of January 1, 2013. Upon your death, a Transfer of Death (“TOD”) deed allows you to transfer real estate to your designated […]
Prepayment Fee Provisions: Enforceable or Not?
A prepayment is a prepayment is a prepayment, right? Not necessarily. In determining the enforceability of prepayment fee provisions, courts historically have drawn a distinction between the borrower’s voluntary prepayment of a loan (i.e., a refinancing) and so-called “involuntary” prepayments, such as application of collateral proceeds or funds received through enforcement actions after a lender’s acceleration of the loan due to […]
Flood Insurance Could Bring Flood of Anti-Servicer or Anti-Mortgagee Litigation
Spring rains help flowers bloom but also bring to mind possibilities of freshwater floods. Flood insurance definitely has its place in prudent mortgage lending. Mishandling of flood insurance covenants by a mortgage loan servicer or mortgagee, however, can lead to a “flood” of anti-servicer or anti-mortgagee litigation. Read on for […]
A Will for your Avatar: Estate Planning for Digital Assets
When obtaining an estate plan, people generally have the goal of passing their real and personal property in an orderly way according to their wishes. However, as the world’s business and activities are increasingly conducted electronically, people generally neglect to form a plan to deal with some of the assets […]