The efforts to curb the spread of COVID-19 has caused an adverse ripple effect in the economy that will undoubtedly strain lending relationships and require widespread loan modifications. To assist borrowers and businesses with the anticipated volume of loan modification requests, the federal government and other federal agencies have offered […]
Although the attention of the political world is currently drawn to impeachment hearings and the countless nominees vying for the Democratic presidential nomination, Congress has still found time to work on a bill that would allow banking institutions to transact with cannabis businesses. The SAFE (“Secure and Fair Enforcement”) Banking […]
Motion and/or Affidavit of Prejudgment Writ of Garnishment, §77.031 Fla .Stat. Garnishment is a statutory remedy used to reach tangible or intangible personal property of a debtor while that property is in the hands of a third party. A very common example of such is garnishment of a debtor’s wages […]
The Motion and Affidavit for Prejudgment Writs of Attachment Normally, attachment occurs after a judgment has been entered by the court. However, the trial court has the authority to order a writ of attachment to a debtor’s property prior to a final judgment order, and/or resolution of litigation. Generally, prejudgment […]
Northeast Florida has some of the largest Naval bases in the country and many active duty military personnel call the area home. These servicemembers faces stresses that those of us in civilian life will likely never encounter, such as long deployments overseas, or a change of station to another base […]
Florida’s Banking Statutes of Frauds was enacted in order to curb a 1980s trend of increasing lender liability lawsuits. The enactment of this statute makes it difficult for plaintiffs to maintain tort-based claims that might otherwise flow from the written loan documents. Typically, such claims involve oral promises pertaining to […]
This article provides a high level overview of the The Fair Credit Reporting Act, including its statutory authority and the goals of the Act. The article examines what steps a furnisher of information, like a bank, credit union, or credit card company, should take when it receives a dispute. Finally, […]
Often, an entire household is dependent upon the wages earned by a single head-of-household. To protect the financial well-being of these dependents, the Florida legislature has exempted some of these wages from wage garnishment. However, Florida courts have struggled to consistently apply the exemption. The greatest issue has been whether […]
As the economy remains hot and the lending environment remains competitive, many OCC regulated banks will turn to loan participation transactions in order to turn a profit. Often these transactions are made in a bit of a vacuum with the participating/purchasing bank(s) relying on the diligence and underwriting of the […]
Any owner of a business should know that your directors and officers have certain duties to their respective entities, whether it is a corporation or a limited liability company (LLC). Under Florida law, specifically, directors and officers have duties to act 1) in good faith, (2) with reasonable care and […]