Stinson Leonard Street attorneys produce and maintain industry or topic specific blogs that discuss relevant legal developments, issues and concerns.
08/24/2016 10:27 PM
I am celebrating five years of blogging by publishing one “listicle” per day this week. Monday, the topic was the five biggest surprises in arbitration law; Tuesday it was the five states most hostile to arbitration. (None of those states have called me to complain yet…) Today, it is the five arbitration cases lawyers really ought to […]
08/23/2016 07:31 PM
I am celebrating five years of blogging by publishing one “listicle” per day this week. Yesterday, the topic was the five biggest surprises in arbitration law. Today, it is the five states where I would not want to argue in favor of arbitration — either compelling arbitration or confirming an award. In other words, these are […]
08/22/2016 11:04 PM
Do you hear the corks popping, friends?? You should, because the imaginary champagne was just opened and the balloons have been released to the far corners of the internets in honor of ArbitrationNation’s FIFTH ANNIVERSARY! At the end of this week, I will have published 253 posts over the course of five years. Taking inspiration from other social media sites, […]
08/10/2016 04:57 PM
The 9th Circuit recently allowed a claimant to proceed in court after her arbitration had been terminated due to her failure to pay half the arbitration fees. Tillman v. Tillman, __ F.3d __, 2016 WL 3343785 (9th Cir. June 15, 2016). The case involved a client’s malpractice claim against her lawyers, which was stayed by the federal court after […]
08/03/2016 06:56 PM
What is “arbitration”? Although courts often use and apply the word, rarely do they stop to define it. While the FAA concerns agreements to “settle by arbitration a controversy,” the FAA does not define “arbitration,” leaving the question to the courts. Lacking definitive guidance from the U.S. Supreme Court, two lines of cases have developed […]
08/17/2016 01:30 PM
Written by: Nate Van Emon On Friday, August 5, the Federal Financial Institutions Examination Council (FFIEC) requested public comment on a proposal to streamline the existing regulatory reporting requirements by eliminating and revising several Call Report data items for certain financial institutions with assets of less than one billion and domestic offices only. The […]
08/04/2016 01:15 PM
Written by: Steven Vetter On July 27, 2016, the Federal Deposit Insurance Corporation (“FDIC”) issued a Financial Institution Letter regarding Prudent Risk Management of Oil and Gas Exposures. The letter states that due to the complex and highly specialized nature of loans to borrowers in the oil and gas industry, banks should be adequately prepared […]
07/25/2016 01:30 PM
Written by: George Sand In Madden v. Midland Funding, LLC, 786 F.3d 246 (2d Cir. 2015), cert. denied, No. 15-610, 2016 U.S. LEXIS 4211 (U.S. June 27, 2016), Madden was a New York resident who opened a credit card account with Bank of America. The bank consolidated its credit card program into another national bank, […]
07/22/2016 04:20 PM
Written by: Lindsay Harden On Tuesday, the Financial Crimes Enforcement Network (FinCEN) issued Frequently Asked Questions regarding the new Customer Due Diligence rule. Affected financial institutions must comply with the new rule beginning on May 11, 2018. This rule will apply to federally regulated banks and federally insured credit unions, among other financial entities, and it […]
06/03/2016 06:18 PM
Written by: George Sand On June 1, 2016, the Consumer Financial Protection Bureau released a proposed rule that would restrict the ability for payday lenders to originate loans. The proposal includes both loans with a term of 45 days or less and loans with a term greater than 45 days that have an annual percentage […]
03/22/2016 09:43 PM
“The judgment is affirmed by an equally divided Court.” With that one sentence, the Supreme Court case of Hawkins v. Community Bank of Raymore, Case No. 14-520 came to an end. The first 4-4 decision from the Court since the death of Justice Antonin Scalia leaves unresolved, at least on a national level, whether the [...]
The post Guarantor Standing Under Reg. B Unresolved After Hawkins v. Community Bank of Raymore appeared first on Stinson Leonard Street.
03/10/2016 05:12 PM
Co-authored with Matthew Salzman and David Bengtson In a decision entered yesterday afternoon, Judge Shelley Chapman of the United States Bankruptcy Court for the Southern District of New York authorized Sabine Oil & Gas Corporation to reject certain midstream contracts under Section 365(a) of the Bankruptcy Code and, critically, made a non-binding holding that Sabine’s [...]
The post Bankruptcy Court Authorizes Rejection of Midstream Contracts, Issues Non-Binding Ruling that Contract Covenants Do Not Run with the Land appeared first on Stinson Leonard Street.
01/15/2016 06:30 PM
In Venture Bank v. Lapides, 800 F.3d 442 (8th Cir. 2015), the Eighth Circuit found that a bank could not recover from its borrower and, in fact, had violated the post-discharge injunction by relying on change in terms agreements which were ineffective to reaffirm a debt discharged in the borrower’s Chapter 7 bankruptcy. Venture Bank’s [...]
The post Lack of Reaffirmation Agreement Results in Finding That Bank Violated Discharge Injunction by Enforcing Post-Bankruptcy Loan Modification appeared first on Stinson Leonard Street.
08/24/2015 02:49 AM
In Jubber v. SMC Electrical Products, Inc. et al. (In re C.W. Mining Co.), Case No. 13-4175 (Aug. 10, 2015), the Tenth Circuit Court of Appeals confirmed that a single payment made by a debtor within the 90-day preference period to a seller, with whom the debtor had never done business, may satisfy the elements [...]
The post Tenth Circuit Confirms That a Single Payment on New Purchase Contract May Satisfy Ordinary Course Defense Under 11 U.S.C. § 547(c)(2) appeared first on Stinson Leonard Street.
05/05/2015 01:46 PM
On May 4, 2015, the Supreme Court issued its opinion in Bullard v. Blue Hills Bank, holding that an order denying confirmation of the debtor’s proposed chapter 13 plan is not a “final” order that the debtor can immediately appeal. This holding could have a far-reaching impact on individual and corporate debtors in both chapter [...]
The post Debtors’ Ability to Appeal Denial of Plan Confirmation is Limited by New Supreme Court Decision appeared first on Stinson Leonard Street.
07/26/2016 03:28 PM
The US Department of Labor (DOL) has proposed changes to the Form 5500 and schedules that will affect ERISA Title I group health plans of all sizes, but small group health plans should be especially aware of the changes. Certain small group health plans (fewer than 100 participants) are currently exempt from filing the Form […]
06/01/2016 04:12 PM
A Minneapolis law firm recently filed a class action complaint against Lamettry’s Collision, Inc. and the Trustees of its 401(k) Plan, CFO Stephen Daniel and President Joan Lamettry for various breaches of fiduciary duty with respect to fees charged to Plan participants’ accounts in the Company’s 401(k) Plan. Specific allegations include: (a) failure to assess […]
05/26/2016 06:33 PM
My colleagues in the Labor and Employment Group have published an Alert on the new wellness guidance from the EEOC. It is linked here.
04/25/2016 12:31 PM
Employers who self fund their medical plans often have contracts with their third party administrators about claims processing. Some of those contracts provide that the claims processor has discretion to decide claims; others provide that the claims processor is simply acting in a ministerial fashion so that the employer ultimately retains discretion to decide contested […]
04/12/2016 12:34 PM
Sun Trust Bank was sued in a class action challenging its COBRA notice. The plaintiffs who brought the lawsuit claimed that the COBRA notice was materially deficient in that it failed to provide the name and address of the party responsible under the plan for COBRA administration and that it failed to provide an adequate […]
08/23/2016 05:36 PM
The SEC charged four private equity fund advisers affiliated with Apollo Global Management for misleading fund investors about fees and a loan agreement and failing to supervise a senior partner who charged personal expenses to the funds. Apollo did not admit or deny the SEC’s findings. According to the SEC: Apollo entered into certain monitoring […]
08/19/2016 03:25 PM
The SEC has approved a series of FINRA rules that are meant to simplify regulation of firms engaged as M&A brokers and those who conduct other limited activities. While the rules may be simpler, it still looks like a regulatory morass to me. The relaxed rules apply to capital acquisition brokers, or CABs. A CAB […]
08/12/2016 05:10 PM
By Timothy McTaggart and Zane Gilmer On July 28, 2016, the Consumer Financial Protection Bureau (CFPB) released an outline of proposals and alternatives under consideration for regulating debt collection practices. The outline’s release triggers the formation of a panel pursuant to the Small Business Regulatory Enforcement Fairness Act (SBREFA), from which the CFPB will seek […]
07/24/2016 09:20 PM
By Zane Gilmer and Liz Kramer On May 5, 2016, the Consumer Financial Protection Bureau (CFPB) announced a long awaited and highly controversial proposed rule that, if adopted, would prohibit certain financial services companies from banning consumer class actions as part of mandatory pre-dispute arbitration agreements and require companies to report certain arbitration data to […]
07/24/2016 07:19 PM
The Consumer Financial Protection Bureau (CFPB) had another busy week. Here is an overview of what the CFPB was up to recently: Enforcement Actions and Litigation Enforcement Action Against Santander Bank On July 14, 2016, the CFPB announced an administrative consent order against Santander Bank, N.A., to resolve alleged illegal overdraft service practices. In 2010, […]