Blockchain and Financial Services Blog

Showing 44 posts by Vincent E. Mauer.

Small Banks and FinTech: an Opportunity?

Earlier this year BB&T and SunTrust announced a merger that if completed will create the sixth largest bank in the United States.[1] The press release announcing that merger includes the assertion that “Enhanced scale and financial strength will accelerate investment in transformative technology to embrace disruption . . ..” Read More ›

Admit and Legislators Acknowledge That Real Estate Professionals Are Human and Need Protection From Harmless Errors

Ohio and other states where Frost Brown Todd has offices have long had witness and/or notary requirements for the execution of mortgages. Ohio Revised Code Section 5301.01 provides that a “mortgage . . . shall be signed by the . . . mortgagor. . . . The signing shall be acknowledged by the . . . mortgagor . . . before a . . . notary public . . . who shall certify the acknowledgment and subscribe [his or her] name to the certificate of the acknowledgment.” Bankruptcy trustees often try to use their “strong arm” powers[1] to defeat recorded mortgages in order to remove the lien from property of the bankruptcy estate, if the recorded mortgage was defectively executed under state law (in the alternative, the bankruptcy trustee can preserve the lien for the benefit of the bankruptcy estate).

[1]   Bankruptcy trustees so-called strong arm powers include their avoidance powers: the right to avoid competing parties’ interests by acting as if the trustee was a judicial lien creditor, an execution creditor, or a bona fide purchaser. See 11 U.S.C. Section 544. A Chapter 11 Debtor-in-possession can also exercise the strong arm powers. Read More ›

Dormancy and Revival: Long-Term Judgment Collection in Ohio

The fortunes of those who owe you money can vary over the years. This blog post explores how Ohio judgment creditors can capture their share of a judgment debtor’s improving financial situation. Read More ›

SPNB Charters for FinTech Companies: A Primer

The number of tech companies offering alternatives to traditional banks has increased severalfold in recent years, piquing the attention of state and federal regulators.  For FinTech companies engaged in certain aspects of the “business of banking,” a special purpose national bank (SPNB) charter may be one avenue for ensuring continued compliance with applicable regulations. Read More ›

SPNB Charters for FinTech Companies Will Impact Your Litigation Work

Experienced counsel who regularly litigate for or against federally chartered and regulated financial institutions appreciate the differences that apply when a federally chartered and regulated financial institution is the plaintiff or defendant. All businesses maintain books and records needed to operate the business and meet the universally applicable reporting obligations (taxes and perhaps audited financial statements). Federally chartered and regulated financial institutions also retain records required to meet regulators’ requirements of all types including safety and soundness, specific nondiscrimination rules[1], etc. The existence of these additional documents impacts both sides of the document production work (requesting and producing).

[1]   See, for example, the Community Reinvestment Act (12 U.S.C. Section 2901 et seq.) and laws against redlining. Unique information must be acquired, manipulated and retained to meet these financial industry specific rules. Read More ›

When the Dispatcher Must Stop the Truck: A Collection Lawyer’s Duty to Stop the Work of Others That She Caused

Collection lawyers know that sometimes their efforts, including litigation, are temporarily halted. Occasionally, the client directs the delay. On other occasions, the defendant / borrower unilaterally grants itself a delay. The classic borrower caused delay is the automatic stay that is imposed on collection counsel when a borrower files bankruptcy. 11 U.S.C. Section 362. Read More ›

LIS PENDENS IN OHIO Tips for Leasehold Mortgagees and Other SNDA Beneficiaries

Ohio’s lis pendens statute is maddeningly simple. Ohio Revised Code section 2703.26’s two sentences read:

When a complaint is filed, the action is pending so as to charge a third person with notice of its pendency. While pending, no interest can be acquired by third persons in the subject of the action, as against the plaintiff's title. Read More ›

Ohio's Data Protection Act: An Opportunity for Financial Institutions That Operate in Ohio

Good news! The Ohio legislature has offered financial institutions some legal protections in the form of the Ohio Data Protection Act (the “Act”). However, you must be proactive. It will be good for your business and may help in future litigation. Read More ›

Agreed, Not Unauthorized and yet Unenforceable

Students in the USA are taught that we have three branches of government; executive, legislative and judicial.  Young students are taught that the legislature makes laws, the executive enforces laws and the judicial branch of government interprets laws.  Lawyers know the system is not that simple. Read More ›

Update and Expansion: Appeals in a Foreclosure Case, an Empty Right in Ohio?

A few months ago, I posted a blog article questioning the true economic viability of appellate opportunities of a putative junior lien creditor in Ohio foreclosure cases. In that post, I speculated on the situation that might be faced by an appealing mortgagor if it wanted to appeal from a trial court order granting a decree of foreclosure and directing a sale of the liened property. A new decision addresses that fact pattern. Read More ›

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Attorney Spotlight

Courtney Rogers Perrin practices in the Nashville office as a member of the Firm’s Electronic Payments and Blockchain practice groups. She assists clients with regulatory compliance, contract negotiations, acquisitions and fund formation relating to credit card processing and fintech enterprises, including smart contracts and virtual currency matters.

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