Legal Updates

In this upcoming article series, we will provide insights regarding third-party risk management throughout the lifecycle of a bank’s relationships with its critical vendors. Our first installment concerns operational considerations to keep in mind when negotiating vendor agreements.

In fall 2020, the Department of Justice’s Antitrust Division issued a press release providing background and seeking public comment on a potential update to the Division’s 1995 Bank Merger Competitive Review Guidelines.

Most lenders are familiar with creating and perfecting security interests in personal property. However, when lending to farmers, there are a few additional issues.

Prior to the COVID-19 pandemic, the Bankruptcy Code generally has been interpreted to require debtors to pay rent obligations on time under unassumed real property leases as those obligations arose post-filing and pre-rejection. This result was driven by 11 U.S.C. § 365(d)(3), which requires the debtor to “timely perform” all obligations until the lease is assumed or rejected, with one narrow exception.

The most important part of the process is assessing the alternative methods to wind down a business, choosing the right approach and executing on the plan.

As financial distress grows due to the pandemic, charitable organizations are faced with two immovable forces–increased demand from hard hit communities and decreased funding due to both the economic hardships facing many donors and the cancellation of most live fundraising events.

On February 22, 2021, Representative Steve Elkins introduced a major new privacy bill (HF 1492) in the Minnesota House of Representatives containing significant privacy obligations for businesses to which it applies.

Biden administration announces several PPP reforms to support the smallest businesses.

Minnesotans whose “home state” is here and who purchase “nonadmitted insurance” directly from insurers not licensed to sell insurance in Minnesota are required to file Form IG255 annually with the Department of Revenue.

Given a global pandemic, civil unrest and a divisive presidential campaign, even the most loyal readers of The Ticker may have struggled to keep track of the SEC’s rulemaking and guidance during what was a very active year for the regulator. Here is a recap of the most significant SEC rulemaking and guidance in 2020, including links to earlier posts.