Banking and Creditors Rights

What are the True Lessons from the US Supreme Court's Henson Decision on the Scope of FDCPA?

June 15, 2017 | Bulletin No. 127408.1

New U.S. Supreme Court Justice Gorsuch wrote the recent decision in Henson v. Santander Consumer USA, Inc., 582 U.S. __ (June 12, 2017) on Monday that addresses the scope of the Fair Debt Collection Practices Act (FDCPA). In only the sixth decision issued by the U.S. Supreme Court addressing the  FDCPA, the U.S.

Notes from the Litigation Trenches: Rosenthal FDCPA 2012 Year in Review

Collector's Ink, July/August 2013

As in past years, this Article will provide you with the highlights of cases discussing evolving issues under California’s Rosenthal Fair Debt Collection Practices Act (“Rosenthal FDCPA”).

A PDF of the article is posted with the permission of California Association of Collectors, Inc. (2013).

 

Notes from the Litigation Trenches: Rosenthal FDCPA 2014 Year in Review

Collector's Ink, March/April 2015

As in past years, this Article will provide you with the highlights of cases discussing evolving issues under California’s Rosenthal Fair Debt Collection Practices Act (“Rosenthal FDCPA”).

A PDF of the article is posted with the permission of California Association of Collectors, Inc. (2015).

 

Notes from the Litigation Trenches: Rosenthal FDCPA 2013 Year in Review

Collector's Ink, July/August 2014

As in past years, this Article will provide you with the highlights of cases discussing evolving issues under California’s Rosenthal Fair Debt Collection Practices Act (“Rosenthal FDCPA”).

A PDF of the article is posted with the permission of California Association of Collectors, Inc. (2014).

 

The Rising Tide of Credit Reporting

 
 
Event Information

Date:

Tuesday, June 13

Location:

Sacramento, CA

 

 

Organized By:

The Sacramento Valley Paralegal Association (SVPA) and
The California Alliance of Paralegal Associations (CAPA)

Program Overview:

Kronick Shareholder June Coleman will present at SVPA’s MCLE Brown Bag Luncheon-Meeting in Sacramento on June 13. June will discuss current trends with credit reporting.

 
 

Red Flag Rules Have Changed, Have You?

 
 
Event Information

Date:

Tuesday, February 21

Location:

Marriott Hotel, Burbank

 

 

Organized By:

California Association of Collectors

Program Overview:

Kronick Shareholder June Coleman will discuss changes with "Red Flag Rules" at the CAC's meeting on February 21 in Burbank. 

Registration:

Please visit the event website for more information and to register.

 
 

The Second District Court of Appeals Holds That Due To Inconsistencies Between The Provisions Of A Promissory Note And A Deed Of Trust, A Prepayment Provision Under The Loan Documents Does Not Arise Until Payment, Rather Than An Earlier Acceleration Date

January 6, 2015 | Bulletin No. 1170511.1

Facts

U.S. Bank's predecessor bank extended a $62,000,000 loan (Loan) to three legal entities (Borrowers).  The Loan was secured by a deed of trust on real property.  Mr. and Mrs. Yashouafar (Yashouafars) guaranteed the Loan.  The Borrowers defaulted on the Loan by failing to make required payments.  Counsel for U.S. Bank sent a letter dated June 24, 2011 to the Borrowers providing notice of default and accelerating payment of the unpaid balance of the Loan.  The Borrowers filed bankruptcy petitions.  U.S.

Guarantors of a Construction Loan were Exonerated From Liability by a Bank's Misconduct Under the Loan Agreement, Notwithstanding the Broad Waiver Provisions in the Guarantees

December 21, 2014 | Bulletin No. 1167921.1

California Bank & Trust's predecessor bank ("Bank") granted a $22.5 million construction loan to Five Corners Rialto, LLC ("Five Corners") to develop a 70-unit townhome project in two phases.  Two principals of Five Corners guaranteed the loan.  When Phase 1 of the project was nearly complete, the Bank stopped funding approved payments thereby preventing completion and sale of Phase 1 units.  Apparently, Five Corners was not in compliance with the loan to value ratio covenant under the loan agreement but the Bank never properly notified the borrower and the guarantors of this default.  California Bank & Trust v. Del Ponti (December 9, 2014, E053187) ___ Cal.App.4th ___).

Bank That Accepted Stolen and Forged Checks From Check-Cashing Company Had Duty of Care to Verify Endorsements

November 15, 2014 | Bulletin No. 1159211.1

Addressing an issue of first impression, the California Fourth Appellate District has decided that a check cashing service is not a bank for purposes of the fraudulent indorsement provisions of Section 3405 of the California Commercial Code.  Therefore, the first bank to receive a check for deposit from a check cashing service is a depositary bank that owes an ordinary duty of care to the payee to make certain that all endorsements on a check are valid. (HH Computer Systems, Inc. v. Pacific City Bank et al. (November 6, 2014, G049028) ___Cal.App.4th ___).

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