Publications Archive

Q: Can the bank convert a HELOC that is getting close to its maturity date into a closed-end, amortizing loan without requiring TRID disclosures? A: Unfortunately, no–if during the loan term a HELOC is converted from open-end credit to closed-end credit, that would trigger ...Read More

by Rob Nichols Is racism baked into our nation’s systems of justice, health and education, or are there disproportionate correlations between race, poverty and crime? Are people too quick to accuse others of racism, or are those in positions of power too slow to ...Read More

Q: It is my understanding that the aggregate amount of extensions of credit to executive officers cannot exceed $100,000 for Regulation O purposes. If an executive officer has a loan that is guaranteed by FSA or SBA, is the guaranteed portion of that loan ...Read More

Q: The bank has received an application for a Paycheck Protection Program (PPP) transaction. The beneficial owner of the business is not a signor or guarantor. His ID provided is expired and he doesn’t wish to provide a new copy. Is this a BSA violation if ...Read More

by Dhruv Sharma, McGlinchey On Jan. 1, California’s Consumer Privacy Act (“CCPA”) went into effect, activating the most onerous privacy regime in the nation. Broadly speaking, CCPA grants consumers the right to know what personal information is being collected from them; know how that ...Read More

By James Bailey and Chris Hawkins On March 27, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) became law. The new law contains several temporary amendments to the Bankruptcy Code, some of which apply in the business bankruptcy context and some ...Read More

by Brian Malcom With the promise of low-interest or no-interest loans, and even the possibility of loan forgiveness, small businesses rocked by COVID-19 have recently turned to banks to apply for federally guaranteed funds. These funds are vital to many small businesses in order ...Read More