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|Supreme Court Provides TILA Home Loan Rescission Guidance|
R. Scott Adams; Spilman Thomas & Battle, PLLC;
April 21, 2015, previously published on March 13, 2015In a recent unanimous decision, the United States Supreme Court held that a borrower exercising her right to rescind a mortgage loan under the Truth in Lending Act (“TILA”) merely had to provide written notice of rescission within three years after the loan was originated. The Supreme...
|Facing Merger Challenges. In 5, 4, 3, 2, 1......|
Hugh B. Wellons; Spilman Thomas & Battle, PLLC;
April 21, 2015, previously published on April 8, 2015A few weeks ago, a writer for a banking magazine asked my top five challenges to a successful bank merger. That is a loaded question! The challenges to complete a merger agreement, the challenges to close the merger, and the challenges to make the merger a long-term success are all different. What...
|Defeating Another Challenge to the Mortgage Electronic Registration System|
Angela L. Beblo; Spilman Thomas & Battle, PLLC;
April 21, 2015, previously published on March 13, 2015Since the mortgage crisis began several years ago, the Mortgage Electronic Registration System (“MERS”) has faced numerous legal attacks relating to foreclosures, assignments and what interest MERS holds in a deed of trust or mortgage. Among these cases are claims brought by government...
|Whether a foreign futures proprietary merchant can engage in one-on-one futures block trading in Taiwan|
Jonathan Chao; Lee Tsai Partners Attorneys-at-Law;
April 20, 2015, previously published by Beginning with December 2, 2013, a "negotiated block trade", which is a commonly adopted mechanism by international exchanges, has been added to the futures block trading system in Taiwan in addition to the existing “continuous matching” block trading in order to fall in line with international practices. Operators who have been locally licensed futures proprietary merchants in foreign countries may also engage in negotiated block trade for one-on-one futures block trading in Taiwan. However, a specific application procedure should be followed and limitations under relevant laws and regulations should be complied. The statutory procedure and relevant requirements that should be followed by foreign futures proprietary merchants seeking to engage in negotiated block trade in Taiwan are discussed below. on March 25, 2015Beginning with December 2, 2013, a "negotiated block trade", which is a commonly adopted mechanism by international exchanges, has been added to the futures block trading system in Taiwan in addition to the existing "continuous matching" block trading in order to fall in line...
|Important Changes Coming to Alberta’s Guarantees Acknowledgment Act|
Michael J. Styczen, Catrina Webster; Davis LLP;
April 16, 2015, previously published on April 7, 2015Long-awaited changes to Alberta’s Guarantees Acknowledgment Act1 (“GAA”) will come into effect on April 30, 2015.2 These changes will have a significant effect on the practice of providing personal guarantees in Alberta.
Demand on Personal Loans in Turkey
Safak Herdem; HERDEM Attorneys At Law;
April 16, 2015In recent years, Turkey has seen a boost in the use of loans both in individual and in corporate level. Apparently, Turkish households took out loans to afford their expenses like never before in the past couple of years. The rapid increase in loans is not the only problem. Apart from loans, there...
Rosali Pretorius; Dentons Canada LLP;
April 15, 2015, previously published on February 13, 2015Post-financial crisis, many small businesses, unable to get bank financing in the wake of the tightening of bank capital rules, turned to crowdfunding. At that time, crowdfunding was largely unregulated. In the last three years or so, several regulators implemented rules to regulate the rapidly...
|Debt Ceiling 2015: When Hitting the Limit Isn't Really the Limit|
McDonald Hopkins LLC;
April 15, 2015, previously published on March 20, 2015The seemingly never ending fight over raising the debt limit should be in full swing - the U.S. legally hit the amount it is able to borrow on Monday of this week. Thanks to a series of steps the Treasury Department can take, however, Congress has until October or November of this year to act to...
|Cuyahoga County's New Requirement Regarding Escrow Advances|
Larry R. Rothenberg; Weltman, Weinberg & Reis Co., L.P.A.;
April 15, 2015, previously published on April 15, 2015The Cuyahoga County, Ohio, Court of Common Pleas has announced a change in the court's foreclosure procedures pertaining to a mortgage holder's unreimbursed escrow advances.
That Pass in the Night? Will the FCA's Recent Guidance on Retail Investment
Advice Have Any Impact on Mis-Selling Litigation?|
Richard Caird, Alexandra Doucas, Felicity Ewing; Dentons Canada LLP;
April 15, 2015, previously published on February 26, 2015The FCA has recently published Finalised Guidance 15/1 (the Guidance), which promises to consolidate existing sources of guidance on retail investment advice, and to clarify what does and does not amount to advice or a personal recommendation in that context. The significance of that question is,...