Amending Credit Union Bylaws and Codes of Regulations

By John B.C. Porter, Partner As part of a credit union’s strategic planning, the topic of amending (or more appropriately modernizing) the credit union’s bylaws or code of regulations often surfaces as a priority. With advances in technology comes opportunity with respect to how the board of directors and members convene and vote. It is imperative…

Enforceability of Electronic Signatures

By David. A. Wolfe, Attorney E-Sign Act and Electronic Signatures In 2000, in order to address the concern whether electronic contracts could be enforceable and to provide procedures for keeping and retaining electronic records, disclosures and signatures, Congress enacted the Federal Electronic Signatures in Global and National Commerce Act (E-Sign). Under E-Sign, documents can be…

Trusts Made Simple

By Matthew M. Young, Attorney As general counsel for many credit unions, among the most common inquiry I address relates to the law of trusts.  Trusts law is a complex area of the law and for those credit unions navigating these waters, the potential for significant legal exposure can result through errors in interpretation of…

CFPB Enforcement of FDCPA Against First Party Collectors: What You Need to Know

By James J. Todd, Attorney The Consumer Financial Protection Bureau (CFPB) arose out of the national foreclosure crisis in July 2010 by way of the Dodd–Frank Wall Street Reform and Consumer Protection Act (the “Act”).[1]   The Act established the CFPB as a subsidiary agency of the Federal Reserve, and the associated regulations provided the CFPB…