Interest Rates

In re School Specialty, Inc., Case No. 13-10125 (KJC) (Bankr. D. Del. Apr. 22, 2013)

by Marc Skapof | BakerHostetler on 5/24/2013

In an age of historically low interest rates, lenders rely on fee income and other devices to enhance their returns. One of these mechanisms -- and one that can have dramatic consequences for a borrower -- is the inclusion of...more

Illinois Legislature and Court Clarifies Confusion on Mortgage Requirements after In re Crane

by Blake Schulman, Larry Woodard | Miller Canfield on 5/24/2013

A new Illinois law will close a loophole through which some mortgages could be subject to avoidance in bankruptcy. The loophole, created by U.S. Bankruptcy Court’s (C.D. Illinois) 2012 In re Crane opinion, allowed a...more

Applicable Federal Rates – June 2013

by Charles (Chuck) Rubin on 5/21/2013

Applicable Federal Rates – June 2013. See charts below for more information....more

Kansas Repeals Recently Updated Mortgage Interest Rate Cap

by BuckleySandler LLP on 5/21/2013

Recently, Kansas enacted SB 129, which repealed a provision in the mortgage interest rate law that set a floating cap on the interest rate charged for first real estate mortgage loans and contracts for deeds....more

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), April 29, 2013

by Christine Waldmann Carmody, Blair L. Schiff | Pepper Hamilton LLP on 5/10/2013

In an effort to summarize the highlights of the U.S. Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this...more

Wealth Management Update - May 2013

by Maggie Mouradian | Proskauer Rose LLP on 5/3/2013

The May § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 1.2%, which is a slight decrease from April's rate of 1.4%. The applicable federal rate ("AFR") for use with a sale to a...more

Real Estate Tip – Hedge Against Future Inflation: Understanding The Capitalization Rate

by Richard Smith | Bernstein Shur on 4/29/2013

Net operating income ÷ building capital cost = capitalization rate - If you bought a building in 2007 for $450,000 that produces $36,000 in net operating income, your cap rate is 8 percent. If you think of the cap...more

California Federal Court Dismisses Credit Card Interest Rate Class Action

by BuckleySandler LLP on 4/25/2013

On April 15, the U.S. District Court for the Northern District of California dismissed a putative class action in which the named plaintiff brought a breach of contract claim and other common law and statutory claims after...more

Applicable Federal Rates – May 2013

by Charles (Chuck) Rubin on 4/23/2013

Please see full Applicable Federal Rates chart below for the May 2013 rates....more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 19, 2013

by BuckleySandler LLP on 4/22/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - Excerpt from Consumer...more

Quarterly Investment Update – 1st Quarter 2013

by Perkins Coie on 4/19/2013

Stock Market Commentary - Renewed monetary support by the Federal Reserve and dissipation of fear over tax hikes drove U.S. equity markets to record levels in the first quarter. The S&P 500 rose 10.6%, closing the...more

Rogers Towers: Usury in Florida: Intent is Key

by Scott J. Kennelly, Susan Novak | Rogers Towers on 4/11/2013

Usury under Florida law is largely a matter of intent. It is not fully determined by the fact that the lender actually received more than law permits but by the existence of a corrupt purpose in the lender’s mind to charge...more

Federal Grand Jury Returns Indictment For Alleged Servicemembers Civil Relief Act Violations

by BuckleySandler LLP on 4/4/2013

On March 28, the U.S. Attorney for the Northern District of Alabama announced that a federal grand jury had returned a two-count indictment against a used car dealer for violating the Servicemembers Civil Relief Act (SCRA)....more

CFPB Announces Plans to Hold Auto Lenders Liable for Discriminatory Loans

by Michael Mallow, Michael Thurman | Loeb & Loeb LLP on 4/3/2013

The Consumer Financial Protection Bureau issued a guidance bulletin announcing that it will treat indirect auto lenders as creditors subject to the Equal Credit Opportunity Act (ECOA). The March 21 bulletin follows the CFPB's...more

Usury in Florida; Generally

by Scott J. Kennelly, Susan Novak | Rogers Towers on 4/2/2013

Under Florida law, usury is defined as the willful and knowing charge or receipt of interest in excess of 18% per year for credit transactions involving less than $500,000 or between 25% and 45% per year in a credit...more

Servicemembers Civil Relief Act: Provisions Affecting Banking Institutions

by Angela Beblo, Brienne Marco | Spilman Thomas & Battle, PLLC on 3/25/2013

According to December 2012 data from the federal Bureau of Labor Statistics, the unemployment rate for Gulf War Era veterans, hovering around eight percent, remains higher than the national rate. Over the last decade, more...more

If You Will®: Short Takes on Estates, Taxes and Trusts - March 2013

by Burns & Levinson LLP on 3/7/2013

Now is the time to consider intra-family loans - This is an excellent time for wealthy, senior family members to consider the use of loans to other family members as legitimate wealth transfer tools and for other...more

DOJ Charges Community Bank With Discriminatory Pricing Of Unsecured Consumer Loans

by BuckleySandler LLP on 3/1/2013

On February 19, the DOJ announced a settlement with a $338 million Texas community bank to resolve allegations that the bank engaged in a pattern or practice of pricing discrimination on the basis of national origin....more

Mortgage Banking Update - February 21, 2013

by Richard J. Andreano, Jr., Anthony Kaye, John Kerkorian, Barbara S. Mishkin, Matthew Saunig, John D. Socknat, Michael S. Waldron, Emily Wegener | Ballard Spahr LLP on 2/21/2013

In This Issue: - MERS Has Power To Assign Interest in Deed of Trust, Borrower Can Challenge Assignment of Mortgage, First Circuit Rules - Federal Judge Refuses To Dismiss Arizona Mortgage Class Action Alleging...more

CFTCs Gary Gensler Continues Crusade For Libor Reform

by Felix Shipkevich | Shipkevich PLLC on 2/21/2013

U.S. Commodity Futures Trading Commission (CFTC) chairman Gary Gensler has stated that the Libor interest rate is not yet free of fraud. Gensler said to the BBC in London that the rate was often “completely made up.” Many...more

CFPB Issues New Mortgage Servicing Requirements

by Joseph D. Simon | Cullen and Dykman LLP on 2/20/2013

The Consumer Financial Protection Bureau (“CFPB”) has issued two final rules that impose significant new mortgage servicing requirements in connection with residential mortgages to consumers. The rules implement amendments...more

Senate Proposal Would Dramatically Change Process for DCED Approval of Municipal Debt

by Timothy J. Horstmann | McNees Wallace & Nurick LLC on 2/14/2013

A bill has been introduced in the Pennsylvania Senate by Senator Mike Folmer (R-Lebanon) and others which would, among other things, dramatically change the process by which municipal financings are reviewed by the Department...more

Wealth Management Update - February 2013

by Proskauer Rose LLP on 2/12/2013

In This Issue: - February Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - IRS Issues Revenue Procedure 2013-15 - Private Letter Ruling...more

RBS Fined £87.5 Million over LIBOR Rates

by Orrick - Structured Finance Group on 2/12/2013

On February 6, the FSA issued a final notice to RBS imposing a fine of £87.5 million for misconduct in submitting rates for the calculation of LIBOR....more

RBS Fined £87.5 Million over LIBOR Rates

by Orrick - Structured Finance Group on 2/12/2013

On February 6, the FSA issued a final notice to RBS imposing a fine of £87.5 million for misconduct in submitting rates for the calculation of LIBOR....more

Home

Legal News

Find a Lawyer

Browse Subjects

Subscribe

Pro Services

For Reporters

In re School Specialty, Inc., Case No. 13-10125 (KJC) (Bankr. D. Del. Apr. 22, 2013)

Illinois Legislature and Court Clarifies Confusion on Mortgage Requirements after In re Crane

Applicable Federal Rates – June 2013

Kansas Repeals Recently Updated Mortgage Interest Rate Cap

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), April 29, 2013

Wealth Management Update - May 2013

Real Estate Tip – Hedge Against Future Inflation: Understanding The Capitalization Rate

California Federal Court Dismisses Credit Card Interest Rate Class Action

Applicable Federal Rates – May 2013

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 19, 2013

Quarterly Investment Update – 1st Quarter 2013

Rogers Towers: Usury in Florida: Intent is Key

Federal Grand Jury Returns Indictment For Alleged Servicemembers Civil Relief Act Violations

CFPB Announces Plans to Hold Auto Lenders Liable for Discriminatory Loans

Usury in Florida; Generally

Servicemembers Civil Relief Act: Provisions Affecting Banking Institutions

If You Will®: Short Takes on Estates, Taxes and Trusts - March 2013

DOJ Charges Community Bank With Discriminatory Pricing Of Unsecured Consumer Loans

Mortgage Banking Update - February 21, 2013

CFTCs Gary Gensler Continues Crusade For Libor Reform

CFPB Issues New Mortgage Servicing Requirements

Senate Proposal Would Dramatically Change Process for DCED Approval of Municipal Debt

Wealth Management Update - February 2013

RBS Fined £87.5 Million over LIBOR Rates

RBS Fined £87.5 Million over LIBOR Rates

Expand Your Reach