After hinting for several months that a delayed effective date may be in the works, the Consumer Financial Protection Bureau (CFPB) announced in late June that it will delay the effective date of the TILA-RESPA Integrated Disclosure rule, also known as “TRID.” In a cryptic announcement accompanying the CFPB’s proposal […]
Banking Update
Prepaid Industry Offers Commonsense Solutions to the Biggest Issues Created by the CFPB’s Proposed Rule
This article appeared in the Spring 2015 Issue of Pay Magazine, the leading trade publication covering prepaid, mobile and emerging payments issues. In the months following the CFPB’s release of its notice of proposed rulemaking on prepaid accounts , prepaid card industry participants spent countless hours analyzing the sizeable challenges […]
Legal Issues as Community Banks Embrace Subdebt
Subordinated debt instruments are making a comeback, with private offerings and pooled investments gaining favor among a number of bankers in the Midwest. As bankers consider whether subordinated debt is the right way to boost their balance sheets, there are at least three major legal issues to consider before making […]
The Under-Used Effective Financing Statement — Protection Against Unauthorized Sales of Farm Products
As the farm economy tightens, the chances increase that your farm borrower may sell his or her grain without paying you the proceeds. Your borrower might have several reasons for doing so, but none of them are sufficient. For example, farmers may want to pay their input providers first, or […]
The Federal Bankruptcy Court in Nebraska Discharged Private Student Loans
In the matter of Noelle L. DeLaet, the U.S. Bankruptcy Court for the District of Nebraska held DeLaet met her burden of proving her student loans from Discover Bank and National Collegiate Trust (collectively, the “banks”) caused her undue hardship. The court, therefore, discharged DeLaet’s student loan obligations to the […]