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Blog: Attorney Articles
Michigan Supreme Court Reverses 40-Year-Old Precedent and Holds that Commonly Used “Blanket” Purchase Orders Must Have A Quantity Term to be Enforceable
Notwithstanding the ubiquity of “blanket” purchase orders throughout many supply chains, the Michigan Supreme Court has declared they are unenforceable if they do not set forth specific quantities.
Adoption of Artificial Intelligence in the Mortgage Industry Is Drawing Increased Scrutiny – and New Rulemaking – From the CFPB and Other Regulators
The rapid adoption of artificial intelligence in the mortgage industry is of increasing concern and interest to the CFPB and other regulators.
Assignment of Membership Interest in Property-Owning LLC From Parents to Child Is a “Transfer of Ownership” That Uncaps Taxes, Appellate Court Says
A recent Michigan appellate court decision held that property owners who want to transfer their property to their children and can keep the value capped can't do so through the transfer of interests in an LLC.
OCC’s $15 Million Consent Judgment Against AmEx Is Latest Example of Regulators’ Focus on Insufficient Third-Party Affiliate Oversight in the Financial Industry
A recent OCC consent order and multi-agency final guidance reinforce the need for financial services companies to implement rigorous oversight programs for third-party affiliates.
Borrowers With Limited English Proficiency (LEP) Present Compliance Challenges for Mortgage Loan Originators and Servicers
Mortgage lenders and servicers dealing with borrowers with limited English proficiency must tread carefully to avoid discrimination claims or violations of state laws.