Banking Update

In 2010 the Nebraska legislature adopted amendments to Article 9 of the Uniform Commercial Code (the “Amendments”). To preserve the effectiveness of pre-Amendment records and to allow secured parties to bring affected records into compliance with the new requirements, the Amendments provide rules for an orderly transition. The transition rules […]

On July 31, 2013, the United States District Court for the District of Columbia issued an opinion granting summary judgment in a suit between various trade associations in the retail industry as well as some merchants (collectively referred to herein as “Plaintiffs”) and the Board of Governors of the Federal […]

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 […]

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 […]

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 […]