Bank Law Monitor
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Why Does My Lender Want My Attorney to Send It an Opinion Letter?
Although they have been around for many years, it is becoming more common for a commercial loan lender to require that the borrower’s counsel provide it with an opinion letter. At first blush, this may seem like an oddity: why should the borrower’s l...
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SEC Expands Electronic Submission Requirements
In 1993, the Securities and Exchange Commission (SEC) began mandating the electronic submission of various reports and other documents filed with the SEC. The SEC has once again expanded the categories of documents that must be filed electronically;...
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Bank Liable for Attorneys’ Fees for “Prelitigation Bad Faith” Says Washington Court of Appeals
In a recent decision, the Washington Court of Appeals established a new equitable exception to the American rule for attorneys’ fees, which generally denies an award of fees and costs to a prevailing party absent a contractual or statutory basis. In...
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The Billionaire Minimum Income Tax and Cryptocurrency Tax Provisions in Biden’s 2023 Budget Proposal
This article originally appeared as a weekly entry in Today in Tax, Miller Nash's brief commentary on recent cases, rulings, notices, and related federal tax guidance.
The Billionaire Minimum Income Tax in Biden’s 2023 Budget Proposal
Biden’s...
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The Washington Court of Appeals (Re-)Explains the Statute of Limitations for Deeds of Trust After a Bankruptcy Discharge
On January 18, 2021, the Washington Court of Appeals in Copper Creek (Marysville) Homeowners Ass’n v. Kurtz reaffirmed an important rule related to real property foreclosures and the statute of limitations after a bankruptcy discharge. The rule is th...
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I Just Wanna Know—Federal Bank Regulators to Require Notice of Major Cyber Security Events
Hardly a day goes by without news of a new cybercrime hobbling a major business.1 The grand scope of the SolarWinds hack, which went undetected for many months, underscored that even the most sophisticated technology companies (Microsoft, Cisco,...
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