Banking Articles

These Banking articles will give you the news and information you need to stay up to date in the ever changing Banking industry.

February 8, 2011 – 3,251 views
Mike King
Question: The Fair Credit Reporting Act allows me to pull a credit report on a debtor any time I am collecting a debt, doesn't it?Answer: Not necessarily, because the Fair and Accurate Credit Transactions Act makes it clear that debt collection is a permissable purpose for obtaining credit reports only in connection with credit transactions in which consumers have participated directly and voluntarily. So, what do you do if the buyer of your real estate bounces the deposit check, defaults on the contract, and causes you to miss a legitimate sale?  Full Story 
February 3, 2011 – 1,547 views
Gregory J. Lyons, Satish M. Kini, Chan Casey and Edite Ligere
The Basel Committee on Banking Supervision (the "Basel Committee") issued its new Basel III framework on December 16, 2010.  The new framework is intended to reform the international financial system and improve the banking sector's resiliency in times of financial and economic stress by instituting higher global capital and liquidity standards.  This Client Update is intended to alert recipients to this development; a more comprehensive explanation will appear in the January 2011 Debevoise & Plimpton Financial Institutions Report. Full Story 
February 1, 2011 – 2,304 views
Mike King
Where an individual manager exercises "control over the nature and structure of the employment relationship," or "economic control" over employees, then that individual manager may be subject to liability for unpaid wages under the Fair Labor Standards Act. Full Story 
January 27, 2011 – 1,798 views
Daniel A. Lowenthal
The Great Recession continues to take a toll on banks. In 2010, 149 banks had failed by mid-November. That's nine more than in 2009 and more than five times the number in 2008. Not since 1992 have so many banks failed in one year. See www.bloomberg.com/news/2010-11-22/adelphia-vitro-lehman-workf lowlocal-insight-bankruptcy.html.The situation is not expected to improve soon. The Federal Deposit Insurance Corporation (FDIC) recently reported that 860 banks in the U.S. are "problem" institutions. See www.fdic.gov/news/news/press/2010/pr10256.html. That means that almost one in nine of the nation's 7,760 banks are the highest risk for failure. See www.nytimes.com/2010/11/24/business/24fdic.html?scp=1&sq=Eric%20Dash%20and%20FDIC&st=cseFull Story 
January 11, 2011 – 1,601 views
James Kobzeff
Financial management rate of return (or FMMR) is a return that was conceived (I do believe) by the Commercial Investment Real Estate Institute (CIREI) and is taught to students seeking the CCIM (Certified Commercial Investment Member) designation. So I'll give the CIREI the credit for the financial management rate of return with the reservation that I might be mistaken and it originated elsewhere. Fair enough. Full Story 
January 5, 2011 – 1,515 views
Alice Pizae
Short sales property demand has raised enormously with many property investors looking this opportunity as profit making. Once your short sale property gets listed in flat fee listing you are bound to get good amount of buying queries. People, who got strangled in this worst economic crisis ever with many of the businesses shutting, losing jobs, many of them have been not able to pay their mortgage instalment. This has resulted in lender mailing them foreclosure notice causing home owner social embarrassment. To avoid the foreclosure search for right short sale agent is required who can help the best way to avoid foreclosure. Full Story 
December 31, 2010 – 1,451 views
Brian Reed
The process of bankruptcy offers debtors a clean slate when they are overwhelmed by financial burdens. Once a bankruptcy case is completed, however, the debtor will still need basic possessions and assets to move their life forward. Fortunately, the Bankruptcy Code recognizes these basic needs and provides a variety of property exemptions for debtors. If property is exempt, it will not be subject to the claims of creditors. Under new bankruptcy law, a debtor will be required to submit a schedule or list of exempt property when they file the bankruptcy petition. The schedule should include a description of the property, specifying the law authorizing the exemption, and list the value of the exemption and its market value. This information allows parties involved in the case to evaluate the exemption claim and submit any legitimate objections within 30 days from the meeting of the creditors. If someone objects, they must prove that the exemption has been improperly claimed. Full Story 
December 28, 2010 – 1,604 views
Todd Solomon - McDermott Will & Emery
The federal Defense of Marriage Act (“DOMA”) is the controversial law at the focus of the national debate over the legalization of same-sex marriage. The DOMA provides for all purposes of federal law, the word “marriage” means “only a legal union between one man and one woman as husband and wife” and the word “spouse” refers “only to a person of the opposite-sex who is a husband or wife.”  In addition, the DOMA stipulates that no state shall be required to recognize a same-sex relationship that is considered a legal marriage in another state. Full Story