
Shumaker Williams, P.C. Business Continuity Update #2
UPDATE: The Maryland Office of Shumaker Williams, P.C. Remains Open under Maryland Law. Dear Valued Clients: The Maryland office of Shumaker Williams, P.C., remains physically open in Towson, Maryland. The Executive Order issued by the Governor of Maryland on March 23, 2020, closing all non-essential Maryland businesses, does not include law firms. Our other offices
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Shumaker Williams, P.C. Business Continuity Update
This is a challenging time. The Covid-19 virus has created local, national and international concerns about the effect on business operation and commercial transactions. Court and arbitration systems have limited access to litigants, postponed most trials and hearing dates, or offer hearings by electronic means only. Our chief priority remains the safety and well-being of
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Fast Facts for Employers Regarding the “Families First Coronavirus Response Act”
On March 18, 2020, the President Trump signed the “Families First Coronavirus Response Act” into law. The law becomes effective no later than 15 days after enactment. It is not clear when the law will actually go into effect, but that information should be forthcoming from the Department of Labor. It is safe to assume
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RESPA Enforcement can Take Several Forms
Enforcement of the anti-business referral provisions of the federal Real Estate Settlement Procedures Act1 has certainly had its ups and downs over the years. Originally enacted in 1974, RESPA provides the following prohibition against payment or receipt of anything of value in exchange for the referral of settlement service business in connection with a federally-related
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HUD Changes to Reverse Mortage Requirements
On Tuesday, August 29, 2017, the Department of Housing and Urban Development (HUD) announced that it is changing the requirements for its reverse mortgage program. The changes are expected to help protect taxpayers while still pursuing the mission of the program. The purpose underlying the changes is to protect other programs in place that are
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CLIENT ALERT: Supreme Court Rules Second Mortgages are NOT Voidable in Chapter 7 Bankruptcy
By: Marty B. Ellis On June 1, 2015, in two consolidated cases (Bank of America, N. A. v. Caulkett and Bank of America, N. A. v. Toledo-Cardona), the Supreme Court of the United States ruled that in a bankruptcy liquidation Chapter 7 proceeding, the debtor cannot void a second mortgage when the value of the
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Supreme Court Holds Lawsuit for Loan Rescission Under TILA Only Requires Notice to Creditor Within Three Years
On January 13, 2015, the United States Supreme Court issued an opinion in a case captioned Jesinoski et ux v. Countrywide Home Loans, et al., (October term, 2014 – No. 13-684) interpreting the rescission provisions applicable to mortgage loans under the Truth-in-Lending Act, 15 U.S.C. §§ 1601 et seq. and Regulation Z, 12 C.F.R. Part
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“JOBS” Act Creates Another Venue for Raising Capital
Shumaker Williams, P.C. Securities Law Practice Group By Jane G. Davis Companies, including bank holding companies, looking to raise capital through the sale of securities, must either register the securities with the Securities and Exchange Commission (the “SEC”) or rely on an exemption from registration. In some instances, the securities laws of the states in
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Stepping Up Your Game on Third Party Vendor Review
Shumaker Williams, P.C. Financial Services Practice Group By Paul A. Adams* The Office of the Comptroller of the Currency (“OCC”) has recently published two bulletins, OCC 2013-33 and OCC 2013-39 on risk management of third party vendors. The first is generalized guidance for assessing and managing risks associated with third party relationships which replaces its
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Crowdfunding: A New Way to Raise Capital
By Jane G. Davis Shumaker Williams, P.C. The Jumpstart Our Business Startups Act (the “JOBS Act”) enacted in April 2012 provides for a new method of raising capital without requiring registration of the offering with the Securities and Exchange Commission (the “SEC”). The securities offered will also be exempt from state registration requirements and, in
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