Last Friday, the Chairman of the U.S. Commodity Futures Trading Commission (CFTC), the Director of the Financial Crimes Enforcement Network (FinCEN), and the Chairman of the U.S. Securities and Exchange Commission (SEC) issued a rare joint statement on activities involving digital assets. Read More ›
Planning Litigation for the Lender: Lender Can Sue Out-of-State Borrower’s Counsel in Lender’s Home Jurisdiction
The work of commercial transaction counsel who represent borrowers can involve making representations and authoring opinion letters. Loan transaction counsel often work with lenders, borrowers, or collateral in other states. This is inevitable given the free flow of capital that is a feature of American commerce. Read More ›
A well-crafted contract will be concise, clear, and avoid internal conflicts. In this last article of our three-part series on payments contracts and drafting considerations, a recent case addressing conflicting contractual clauses is discussed. Read More ›
In this second article of our three-part series on payments contracts and drafting considerations, recent case law issued by the Sixth Circuit Court of Appeals is discussed. Read More ›
Payment card networks are built on a web of contractual arrangements containing incentives and allocations of risk. A common assumption among merchants and issuing banks is that merchants are wholly liable for expenses incurred as a result of a data breach. But recent decisions in three federal courts send a message that this assumption doesn’t always hold. In a three-part series, we will discuss recent case law on the topic and how that impacts contracts at all levels of the vertical. Read More ›
Blockchain technology’s potential for disintermediation in the financial sphere has evolved in the decade since distributed ledger technology was introduced. Early challenges to cryptocurrency’s usability have been slowly overcome by developers through updates to existing blockchains, such as by hard forks, and the creation of new, specialized platforms, such as Monero. Read More ›
Lenders and their counsel know that it is important to properly describe the collateral on which a lien (mortgage or security interest) is being granted. The purpose of this post is to discuss some recent decisions contrary to what many corporate counsel thought they knew concerning collateral descriptions in security agreements and UCC financing statements. Read More ›
There has been some significant activity recently involving the rights and obligations of junior real estate lienors in Ohio who file foreclosures to realize on real estate liens. The purpose of this post is to discuss that activity and remind lenders and their counsel of one important right of senior lenders that has not changed. Read More ›
Uncounted dollars in money, goods and services are routinely transferred in reliance on the priority of a non-ownership interest in real property. Read More ›
On April 25, 2019, the West Virginia Treasurer’s Office issued a request for proposals (RFP) seeking bids from financial institutions to provide banking services to West Virginia’s medical cannabis program. Read More ›
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Vincent E. Mauer represents clients in commercial and business disputes with particular emphasis on financial institutions and instruments, including financial institution bonds, securities, insurance policies and commercial loans.