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Posts published in “Banking”

7th Cir. Holds UCC Financing Statement May Incorporate List of Collateral by Reference

The U.S. Court of Appeals for the Seventh Circuit recently reversed a bankruptcy court’s ruling that a lender failed to perfect its security interest because its UCC financing statement failed to provide sufficient indication of the secured collateral under Article 9 of the Uniform Commercial…

7th Cir. Holds Plaintiff Lacked Standing in ADA ‘Website Accessibility’ Case Against Credit Union

The U.S. Court of Appeals for the Seventh Circuit recently held that a blind plaintiff lacked standing to sue under the Americans with Disabilities Act (ADA) for alleged accessibility problems with a credit union’s website because he could not establish an injury in fact as…

6th Cir. Reverses Dismissal in Short-Term Cash Advance Class Action Involving Two Definitions of ‘APR’

The U.S. Court of Appeals for the Sixth Circuit recently reversed the dismissal of a breach of contract claim in a putative class action involving short-term cash advance loans, finding that the contract at issue was ambiguous because it provided two inconsistent definitions of “annual…

Texas Supreme Court Upholds Contractual Waiver of Statute of Limitations for Deficiency Claims

The Supreme Court of Texas held that the contractual waiver of the statute of limitations on deficiency claims contained in a guaranty agreement was sufficiently “specific and for a reasonable time” as to be enforceable and not void as against public policy. Accordingly, the Texas…