Banking Update

On the evening of December 23, 2024 the Department of Treasury announced that companies that were created or registered prior to January 1, 2024 and are not otherwise exempt under the Corporate Transparency Act (CTA) from filing a beneficial ownership information report (BOIR) with FINCEN now have until January 13, […]

On December 23, 2024, the Fifth Circuit Court of Appeals issued an order lifting the nationwide preliminary injunction that was previously issued by a federal district court in Texas on December 3, 2024 to suspend enforcement of reporting obligations for millions of businesses under the Corporate Transparency Act (CTA).  Notably, […]

Originally Published in the Nebraska CPA Magazine Pub. 4 2022 Issue 2. Many new business owners are excited by the flow-through treatment of income and loss as well as the self-employment tax savings that can be available to entities that elect to be taxed under Subchapter S of the Internal […]

Baird Holm’s Creditors’ Rights team, led by distressed investments attorney Jeremy Hollembeak, successfully executed an aggressive enforcement strategy to protect the client’s collateral rights and obtain a buyout on favorable terms. Following a March 2021 default under its forbearance and rescue financing agreements with the client, the borrower – a […]

Earlier today, the Consumer Financial Protection Bureau (“CFPB”) held a field hearing in Albuquerque, New Mexico on mandatory arbitration clauses found in the terms and conditions of several consumer financial products, including credits cards, bank accounts and prepaid cards. The CFPB released its Notice of Proposed Rulemaking (“NPRM” or “Proposed […]