Showing 3 posts in Retail Lending & Disputes.
Consider the common commercial loan collection situation: a business debt collateralized by relatively permanent collateral (real property or durable non-mobile equipment such as a printing press) and transient collateral (inventory, accounts receivable and cash). Frequently, there is also potentially recoverable unsecured debt because the collateral is insufficient to pay the entire debt and (a) the collateral does not include all the borrower’s assets so it is possible to collect the unsecured debt from the borrower, and/or (b) there are unsecured guarantees supporting the credit. What is counsel to do when the time arrives to plan litigation? Read More ›
A recent guidance published by the Consumer Financial Protection Bureau is a helpful reminder of one of the risks associated with indirect auto lending. The guidance is directed toward auto lenders who rely upon auto dealers to generate consumer loans. The auto dealer may provide vehicle financing directly to the consumer, or may facilitate indirect financing for a vehicle purchase through a financial institution, a nonbank affiliate of a financial institution, or an independent or “captive” nonbank.
 CFPB Bulletin 2013-02.
A recent Kentucky Supreme Court decision, Schnuerle v. Insight Communications Co., declares that Kentucky courts may no longer strike down a Class Action Waiver Clause, found as part of a contractual Arbitration clause, based on a per se theory of unconscionability. This ruling is a dramatic reversal of the Court’s previously issued opinion in this same case, which had ruled such waivers “substantively unconscionable.”
 Schnuerle v. Insight Communications Company LLC, 2012 WL 3631378 (Ky.) (hereafter “Schnuerle II”).
Ask the Blogger
Do you have a topic that you would like discussed in a future blog article? Please let us know. If you have a confidential question regarding a blog article, please feel free to contact the article's author directly, or let us know if you would like for someone to contact you directly.
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.