Finance & Banking

Timely Finance & Banking information: news & analysis from the lawyers, firms and professionals publishing on JD Supra.

FEATURED News

Lien Survives Despite Unwinding of Fraudulent Transactions
Fox Rothschild

Plaintiffs, husband and wife sought to avoid the Sheriff’s Sale of their home as a result of a foreclosure on their mortgage. Plaintiffs entered into a transaction with a third party who claimed that he would save their property by... more

More Than 10% of Texas Homeowners Behind on Mortgage Payments
Robert Kraft
Government Oversight of ARRA Dollars -- A True Faustian Bargain
Sheppard Mullin Richter & Hampton LLP
When Window Dressing Becomes Fraud: Repo 105 Was Much More Than Window Dressing 101
Barry Epstein

	Latest Filings and Decisions
	In re Lehman Brothers Holdings Inc. Report of Court-Appointed Examiner (Volume 9, Part 4 of 4) Randall Reese Earlier today, Anton Valukas, the court-appointed examiner in the bankruptcy cases of Lehman Brothers Holdings Inc. and its affiliates released his 2,200-page report. Mr. Valukas, a senior partner at the Chicago law firm of Jenner &...... more
	In re Lehman Brothers Holdings Inc. Report of Court-Appointed Examiner (Volume 9, Part 3 of 4) Randall Reese Earlier today, Anton Valukas, the court-appointed examiner in the bankruptcy cases of Lehman Brothers Holdings Inc. and its affiliates released his 2,200-page report. Mr. Valukas, a senior partner at the Chicago law firm of Jenner &...... more
	In re Lehman Brothers Holdings Inc. Report of Court-Appointed Examiner (Volume 9, Part 2 of 4) Randall Reese Earlier today, Anton Valukas, the court-appointed examiner in the bankruptcy cases of Lehman Brothers Holdings Inc. and its affiliates released his 2,200-page report. Mr. Valukas, a senior partner at the Chicago law firm of Jenner &...... more

	Most Recent Articles
	The Valukas Report on the Lehman collapse and e-discovery: Stratify and CaseLogistix win the day [UPDATED] The Posse List Updated from our original March 13, 2010 post Friday saw the release of the 2,200-page report by Anton Valukas on the Lehman Brothers collapse. Valukas was appointed examiner by the U.S. Bankruptcy Trustee probing the reasons for...... more
	Internal Revenue Service (IRS) to Apply Stricter Standards to Paid Tax Preparers David Wolf More than eighty percent of American households use either a paid tax preparer or tax preparation software to help them file their taxes. The Internal Revenue Service (IRS) recently announced that they are proposing new registration,...... more
	Ninth Circuit Court Of Appeals Joins Other Circuits And Holds That Overcharge Does Not Violate Section 8(B) Of RESPA Sheppard Mullin Richter & Hampton LLP The United States Court of Appeals for the Ninth Circuit, which includes California, issued a ruling on March 9 that the clear and unambiguous language of RESPA Section 8(b) does not reach the practice of overcharging. Martinez v....... more

	Business Organizations
	23 Tips for Presenting Your Project Sands Anderson PC In my reading online, I came across a great list of points for improving business plans and applications to banks when your company is seeking funding. The original comes from Vitaly Michka of Concord Capital...... more
	Joint Venture Exception to the Usury Laws Sheppard Mullin Richter & Hampton LLP In Junkin v. Golden West Foreclosure Service, Inc. (Jan. 5, 2010) 180 Cal.App.4th 1150, the First District Court of Appeal affirmed the trial court's finding that because the transaction involved was a joint venture, it was exempted...... more
	Update on Foreign-Invested Partnerships in China - FIP Measures Take Effect; First FIP Registered; Implementing Rules and Policies Clarify Scope of Important New Vehicle for Foreign Investment Morrison & Foerster LLP This week heralds the official launch of a new structure for foreign investment — the foreign-invested partnership (“FIP”) — with the long-awaited Administrative Measures on the Establishment of Partnership Enterprises in China by...... more

	Commercial Law & Contracts
	Dallas-Fort Worth Foreclosure Rate May Be Artificially Low Robert Kraft The Dallas Morning News recently ran an interesting and somewhat disturbing article about the decrease in local foreclosures in 2009. The good news is that the number of foreclosures dropped in 2009 from previous years. But the bad...... more
	Obtaining Stimulus Funds Comes With "Green" Strings Attached Dinsmore & Shohl LLP On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act (ARRA). The Act is an extraordinary response to the slowdown plaguing the United States economy. Among the ARRA's goals are stabilization...... more
	FHA Proposes Higher Net Worth Requirement For Lenders In Effort To Strengthen Risk Management Sheppard Mullin Richter & Hampton LLP The Federal Housing Administration has issued a proposed rule that would increase the net worth requirements for approved mortgage lenders and hold them responsible for the lending actions of affiliated mortgage brokers. Currently, the...... more

	Insurance
	Limits on Creditors Rights Title Insurance Coverage Manatt, Phelps & Phillips, LLP All major title insurance companies have recently communicated to their customers that they will no longer provide "creditor's rights" title insurance coverage in lender's or owner's policies of title insurance through the American...... more
	As Of March 8, 2010, Major Title Insurers Will No Longer Underwrite Policies To Protect Creditors' Rights Sheppard Mullin Richter & Hampton LLP On February 3, 2010, the American Land Title Association ("ALTA") Board of Governors unanimously voted to withdraw and decertify its Form 21-06 Creditors' Rights Endorsement ("Endorsement"). The California Land Title Association...... more
	Financial Services Regulatory Reform’s Impact on the Insurance Industry: Food for Thought Edwards Angell Palmer & Dodge LLP Insurers and reinsurers will be impacted directly and indirectly by proposals to modernize regulation of the financial services industry so as to prevent or soften the impact of future financial crises. Even, if new regulators and new...... more

	Securities
	CESR Proposals for a Pan-European Short Selling Regime Morrison & Foerster LLP The Committee of European Securities Regulators (“CESR”) has published its proposed model for a pan-European short selling disclosure regime.1 These proposals follow a public consultation commenced by CESR in July 2009.2 Please see...... more
	CESR Proposals to Extend the Major Shareholding Notification Regime to Instruments of Similar Economic Effect Morrison & Foerster LLP In recent years, there has been increasing acceptance across the EU, that existing notification rules in relation to major shareholdings have become outdated and in need of amendment. Of particular concern, has been their inability to...... more
	Second Circuit Vacates Dismissal Of Securities Fraud Claims Holding That Mutual Funds' Alleged Misrepresentations Regarding Payment Of Transfer Agent Fees Were Material Sheppard Mullin Richter & Hampton LLP In Operating Local 649 Annuity Trust Fund v. Smith Barney Fund Management LLC, No. 07-5125-cv, 2010 WL 520896 (2d Cir. Feb. 16, 2010), the United States Court of Appeals for the Second Circuit vacated an order dismissing a securities...... more

	Taxes
	FBAR Update: Temporary Relief from Reporting Interests in Offshore Investment Funds Miller & Martin PLLC On February 26, 2010, the U.S. Department of the Treasury (the “Treasury”) published proposed rules designed to clarify filing requirements with respect to Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (“FBAR”)....... more
	Revenue Procedure 2010-14 – New Safe Harbor for Code Section 1031 Like-Kind Exchanges Morrison & Foerster LLP On March 5, 2010, the Internal Revenue Service (“IRS”) issued Revenue Procedure 2010-14, providing a new safe harbor method of reporting gain or loss for certain taxpayers who enter into deferred like-kind exchanges under Section 1031...... more
	IRS Voluntary Disclosure Practice Update Duane Morris LLP Events impacting U.S. persons with undisclosed foreign financial accounts continue unabated. The U.S.-Swiss agreement regarding disclosures of foreign accounts has been temporarily sidetracked, criminal prosecutions continue, the U.S....... more

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