Portions reprinted with permission from the Minnesota Bankers Association

On July 31, a federal court in Texas issued an injunction preventing the CFPB from enforcing its 1071 rule until the U.S. Supreme Court decides on the constitutionality of the CFPB’s funding structure in a separate ...Read More

On May 30th, 2023, Governor Tim Walz signed into law a bill legalizing the recreational use of marijuana in the State of Minnesota. The bill is likely to create a new sector in Minnesota’s retail business landscape; however, financial institutions’ opportunities to work with ...Read More

The U.S. Consumer Financial Protection Bureau (“CFPB”) publishes an agenda of its planned rulemaking activities twice a year – typically in the Spring and Fall. These agendas provide a brief look at the focuses and priorities of the CFPB for the coming year. The ...Read More

In a case decided Wednesday, February 23, 2023, the U.S. Supreme Court held that a Chapter 7 bankruptcy debtor is precluded from discharging in bankruptcy a debt obtained by fraud, regardless of the debtor’s own personal knowledge of or culpability in the fraud, at least where ...Read More

Though not binding in Minnesota yet, the U.S. Court of Appeals for the Second Circuit’s recent decision relating to the automatic stay in bankruptcy is causing some angst across the nation. A creditor loan servicer in New York received something of a shock in ...Read More

In Minnesota, contractors who have not been paid for their work have 120 days to enforce their mechanic’s lien rights, or risk losing their ability to make a claim.

Under Section 514.08 of the Minnesota Statutes, the 120-day clock starts running from the last day ...Read More

Minnesota has long authorized police departments and similar agencies to seize property associated with certain crimes and, under proceedings known as “civil forfeiture,” assume ownership of the property. In the past, criminal property seizures have caused problems for secured creditors who have a properly ...Read More

Now that Spring has sprung, contractors and subcontractors, suppliers, and other construction professionals will likely be seeing a seasonal upswing in demand for private real estate improvements and projects. Along with more work, however, comes the need to secure payment for your hard-spent labor, ...Read More

In the recent decision, In re: Musel, the United States Bankruptcy Court for the District of Minnesota held that tribal payments are not considered a property interest of a bankruptcy estate when federal law governs and the tribe expressly rejects defining the payments as ...Read More

Governor Walz has agreed to end the peacetime emergency on July 1st. He had planned for his executive orders to expire on August 1st. However, in negotiations with Senate Republicans, he agreed to end his emergency powers tomorrow. Two of his ...Read More