Insights

Third Round of PPP Funding Open, Banks with Assets of $1 Billion or Less Start Friday, January 15, 2021
Late Wednesday, January 13th, the SBA announced that banks with $1 billion in assets or less can start making Third Round PPP loans Friday, January 15th. Banks above that threshold will be able to start Tuesday, January 19th. CDFI institutions and minority-owned institutions started ...Read More

State Court Receivership: A Powerful Creditor’s Tool
A receivership is often labeled as the state court’s version of bankruptcy, though there are many differences between the two. The device of receivership is primarily a creditor’s remedy and is typically invoked in various circumstances including the collection of a money judgment, liquidation, ...Read More

Marshaling of Assets: Old Doctrine Learns New Tricks
As the economy enters into a recession and debtors’ assets are losing value, dwindling or disappearing, the doctrine of marshaling assets is appearing in more and more collection actions and appellate decisions. The increased use of marshaling assets is also the result of land ...Read More

Desperate Measures Call for an Extraordinary Response: Emergency Collection Actions
A seriously dishonest or desperate borrower, even if relatively rare, can be the cause of the biggest losses a lender may face. Many loans are extended on the assumption that the bank has sufficient collateral—whether real estate, equipment, receivables, or other property—to repay the ...Read More

Fair Credit Reporting Act Compliance
The Fair Credit Reporting Act (“FCRA”) is a federal law enacted in 1970 to promote the accuracy, fairness, relevancy, and privacy of consumer information in the file of credit reporting agencies. Banks and other financial institutions are an important link in the consumer credit ...Read More

Differences Between Note Co-Makers and Guarantors
When a prospective borrower approaches a lender and requests financing for any consumer purpose or business operation, the lender must evaluate whether or not the borrower has sufficient capacity to repay the loan. Two options will often come to mind for most lenders. First, ...Read More