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Documents on Banking Law, Banking & Financial Services
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|FDIC Report: Resilience of Community Banks Withstands Consolidation Trends|
George A. LeMaistre; Jones Walker LLP;
April 23, 2014, previously published on April 17, 2014Consolidation in the banking industry over the past three decades "has had much less impact on the community banking sector than is commonly believed," according to a report released last week by the Federal Deposit Insurance Corporation.
|Bank Capital: Supplementary Leverage Ratio; Federal Banking Agencies Propose Revisions to the Supplementary Leverage Ratio’s Exposure Measure and Approve Final Rules Implementing an Enhanced Supplementary Leverage Ratio for the Largest U.S. Banking Organizations|
Sullivan Cromwell LLP;
April 23, 2014, previously published on April 16, 2014Last week, the Federal Deposit Insurance Corporation (the “ FDIC ”), the Board of Governors of the Federal Reserve System (the “ FRB ”) and the Office of the Comptroller of the Currency (the “ OCC ” and, together with the FDIC and F RB, the “ Agencies...
|Marshalling - A Remedy for the 21st Century?|
Dentons Canada LLP;
April 23, 2014, previously published on April 22, 2014Marshalling cases are rare these days. Therefore, it is notable that two separate cases were heard in the appeal courts in 2013: Szepietowski v. The National Crime Agency (formerly the Serious Organised Crime Agency) and Highbury Pension Fund Management Company and another v. Zirfin Investments...
|MMR is here - Are you Protected?|
Dentons Canada LLP;
April 23, 2014, previously published on April 22, 2014FCA's take on the feared childhood jab, in the form of the alternative MMR - the Mortgage Market Review - mean that major changes to rules on selling regulated mortgages take effect from 26 April 2014. Andrew Barber and Emma Radmore look at what those who lend and advise under regulated mortgages...
|Fair Game - Administration Rents and Creditors' Returns|
Dentons Canada LLP;
April 23, 2014, previously published on April 22, 2014In recent years some high profile (and controversial) court decisions have swelled the list of liabilities that must be paid as expenses of an administration. Administration expenses enjoy "super priority", being payable out of floating charge realisations ahead of the claims of...
|Claims Against Failed Banks Must Go Through the FDIC’s Administrative Claims Process|
Adam B. Brandon, Scott J. Kennelly; Rogers Towers, P.A.;
April 22, 2014, previously published on April 11, 2014As described in a previous post, the Financial Institutions Reform, Recovery, and Enforcement Act (“FIRREA”) requires that anyone with a claim against a failed bank must file a claim with the FDIC within 90 days of being notified (either by mail or by newspaper publication) of the...
|New Surcharge for All Immigration Fees Paid by Credit Card|
Fragomen Del Rey Bernsen Loewy LLP;
April 22, 2014, previously published on April 16, 2014The Department of Immigration and Border Protection (DIBP) will impose a surcharge to credit card payments for immigration-related fees and charges, including Visa Application Charges, beginning April 19, 2014. Originally, the DIBP indicated that the surcharge would take effect on March 22, 2014,...
|Real Estate Tax Liens Attach to Persons, Not Just Property|
Aana L. Maguire, Karen M. Sanchez; Obermayer Rebmann Maxwell & Hippel LLP;
April 22, 2014, previously published on April 10, 2014In 2013, the Pennsylvania legislature passed an amendment to the Municipal Claim and Tax Lien Law (Act No. 93 of 2013, the “Amendment”), designed to give municipalities and school districts improved means of collecting tax revenue. The Amendment permits a taxing district to enforce a...
|“Substantial Compliance” With Notice Requirements Not Enough|
Adam B. Brandon; Rogers Towers, P.A.;
April 22, 2014, previously published on April 15, 2014Florida’s Fifth District Court of Appeal recently emphasized the need for lenders to strictly comply with the notice requirements of a mortgage prior to foreclosure. In Samaroo v. Wells Fargo, the borrower appealed the circuit court’s entry of a summary final judgment of mortgage...
|Important Supreme Court of Ohio Decision for Loan Workouts and Lenders|
John J. Kulewicz, Jeffery E. Smith; Vorys, Sater, Seymour and Pease LLP;
April 21, 2014, previously published on April 17, 2014The Supreme Court of Ohio issued its decision dated March 4, 2014, in the case of FirstMerit Bank, N.A. v. Inks, et al (2014-Ohio-789), confirming important Ohio statutory protections for lenders in workout situations under Ohio Revised Code Section 1335.05.