The newsletter of the ISBA’s Commercial Banking, Collections, and Bankruptcy Section
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Newsletter articles from 2001
Bank counsel and the Bank Secrecy Act
As president of a national bank and an attorney, I recently received a phone call from the Office of the Comptroller of the Currency (OCC) concerning my bank's compliance with the Bank Secrecy Act (BSA).
Brush up your Latin—“nemo dat qui non habet”
The Tenth Circuit Court of Appeals has just reminded practitioners that we remain a country of common law and that includes long cherished principles expressed in Latin.
Collecting on judgments is not for the feeble at heart
After ten years of chasing behind a debtor, a former estate attorney, to collect on judgments which were awarded based on his misappropriation of estate assets, relief was finally awarded by the Illinois Appellate Court after this debtor managed to evade and wear out the original creditors who subsequently sold the judgments to the plaintiff in this case.
Sometimes there is an inclination to assume that if the basic note and mortgage are properly executed that there is no real defense to a real estate foreclosure.
Illinois Supreme Court overturns decision against mortgage lender
In Voyles v. Sandia Mortgage Corporation (2nd District; 1999), an Illinois appellate court ruled that a mortgage company ("Lender") could be held liable for refusing to accept mortgage payments when the amount of those payments was in dispute and for subsequently reporting negative credit information as a result of the Lender's refusal to accept the tendered payments.
SBA reauthorization and budget for FY 2001
New legislation signed into law just before year-end provides a near-historic level of funding support for U.S. Small Business Administration (SBA) programs, and authorizes a New Markets Venture Capital program to invest in small businesses in low-income areas.
View from the chair
The second meeting of our Section Council was held on Saturday, August 18, at the Par-A-Dice Casino Hotel in East Peoria.
View from the chair
This is a new feature for our newsletter which will be written by me as chair of the section council during the coming year.