Banking Update

Originally Published in the Nebraska CPA Magazine Pub. 4 2022 Issue 2. Many new business owners are excited by the flow-through treatment of income and loss as well as the self-employment tax savings that can be available to entities that elect to be taxed under Subchapter S of the Internal […]

Baird Holm’s Creditors’ Rights team, led by distressed investments attorney Jeremy Hollembeak, successfully executed an aggressive enforcement strategy to protect the client’s collateral rights and obtain a buyout on favorable terms. Following a March 2021 default under its forbearance and rescue financing agreements with the client, the borrower – a […]

Earlier today, the Consumer Financial Protection Bureau (“CFPB”) held a field hearing in Albuquerque, New Mexico on mandatory arbitration clauses found in the terms and conditions of several consumer financial products, including credits cards, bank accounts and prepaid cards. The CFPB released its Notice of Proposed Rulemaking (“NPRM” or “Proposed […]

Last month, the United States Supreme Court issued its ruling in Bank of America v. Caulkett — a case deciding whether homeowners can avoid underwater second mortgages through Chapter 7 bankruptcy proceedings. The Court ultimately determined that a Chapter 7 debtor may not void a junior mortgage even when the […]

In another sign that the 2008 financial crisis is fading into memory, the Federal Deposit Insurance Corporation (FDIC) has proposed changes likely to reduce deposit insurance premiums for most community banks. The FDIC’s proposal would revise the factors used to determine deposit insurance assessments so that banks with less than […]