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Supreme Court to Focus Legal Spotlight on Spousal Guaranty Issues
Spousal guaranties are about to receive additional scrutiny now that the United States Supreme Court has decided to grant certiorari to a decision by the U.S. Court of Appeals for the Eighth Circuit regarding whether a spousal guarantor is an “applicant” entitled to bring an action under the Equal Credit Opportunity Act (ECOA) and related implementing regulation (Regulation B). The focus on spousal guaranties by the Supreme Court will create more awareness among borrowers and their counsel about this potential guarantor defense, and provide a reminder to lenders to make sure that their internal underwriting policies and guarantor forms are in compliance. Additionally, it is a good opportunity for lenders to update their forms to protect against the most common guarantor defenses. This article explores the Regulation B split over who can be defined as an applicant and provide guidance on compliance with ECOA and Regulation B on spousal guaranty issues.
The Genesis of the ECOA and Regulation B
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.