• October 2, 2023Agriculture Law & AgribusinessFamily Law

    A Fairly New Wrinkle in Minnesota Farm Divorces

    One of the newest growing trends in Minnesota farm divorces involves both divorcing parties seeking to acquire the farm operation’s productive assets (land, machinery, equipment, etc.). In the past, it was typically presumed that the “farming spouse” will end up with the productive farm assets while the “nonfarming spouse” will receive fair compensation using other...
  • September 25, 2023Finance & Banking

    Update from Ag Lending Conference regarding CFPB 1071

    During the Ag Lending Conference on September 7th, I reported that an injunction had been entered in Texas preventing the CFPB from enforcing Rule 1071 against the parties to that case. I also mentioned a pending Kentucky case motion requesting the same relief from members of the Kentucky Bankers Association. At that time, I stated...
  • September 6, 2023Finance & Banking

    Update on Texas Bankers Association v. CFPB: Motions to Intervene on 1071 Case Filed by ICBA and CUNA Kentucky Bankers Association Initiates Own Case and Offers Temporary Membership to Banks Not Protected by the Injunction

    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 case. That ruling is expected in the summer of 2024....
  • August 12, 2023Finance & Banking

    Oberg Revisited: Proceedings to Determine the Property Status of Grain Bins

    Previous readers of Gislason & Hunter’s Financial Newsletter may recall discussion of a recent case decided by the Minnesota Court of Appeals regarding considerations to make in determining whether a grain bin is a fixture (and thus part of the real estate that can be pledged through a mortgage) or is personal property (and thus...
    August 10, 2023Finance & Banking

    Non-Compete Agreements Void in Employment Agreements

    The Minnesota Legislature recently passed a law rendering all covenants not to compete in employment agreements signed on or after July 1, 2023. The new law makes any covenant not to compete contained in an employment (or independent contractor) agreement/contract void and unenforceable if the agreement/contract was executed on or after July 1, 2023. This...
  • August 8, 2023Finance & Banking

    Potential Opportunities in Legalization: Financial Services and Minnesota’s Legalization of Cannabis

    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 those new businesses may not be as open and carefree as...
  • July 7, 2023Finance & Banking

    Regulations Coming for Overdraft and Other Fees

    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 CFPB published its Spring 2023 rulemaking agenda, indicating that it anticipates...