Yesterday, Thomas J. Curry, Comptroller of the Currency gave remarks about Fintech Innovation at LendIT USA (The Worlds Biggest Show in Lending and Fintech) Conference in New York. You can read Mr. Curry’s remarks here. Mr. Curry praised the innovative Fintech Companies who “have fueled healthy competition to modernize and improve how the nation’s financial services needsContinue reading “Fintech Update: Disruption for Good. The OCC’s Remarks Yesterday to Fintech Innovators at LendIt USA in New York”
Category Archives: startups
Michigan Legislation Update: The Urban Food Initiative. Community Revitalization To Include Downtown Grocery Stores.
Two Thanksgivings ago I took my family to New York City. Even amidst the chaos of protecting my 4 young children from darting out into oncoming traffic – we absolutely loved the City. We loved the walk-ability of City life – that you could walk down a block to a grocery store and get allContinue reading “Michigan Legislation Update: The Urban Food Initiative. Community Revitalization To Include Downtown Grocery Stores.”
Reminder for Michigan Limited Liability Companies on Upcoming Filing Deadline. Stay in Good Standing and Maintain your Corporate Formalities.
Happy #ThrowbackThursday. Some (maybe all of you) may be wondering about my choice of including this photo – it is me, years ago, dressed as Sparty for the MSUvUofM game. I thought it pertinent, given the topic of this e-mail is maintaining your business “liability shield” and as everyone knows, Sparty is the greatest warrior/mascotContinue reading “Reminder for Michigan Limited Liability Companies on Upcoming Filing Deadline. Stay in Good Standing and Maintain your Corporate Formalities.”
Business Law Update: You have Terms and Conditions, but are they CONSPICUOUS?
Business Owners – ask yourself: When selling or buying, what are in my company’s Terms and Conditions? You can check out some of my prior posts on Terms and Conditions. “TnCs” are important to review closely. TnCs “allocate risk” among the two parties to the contract. In some instances, even if one party never reads theContinue reading “Business Law Update: You have Terms and Conditions, but are they CONSPICUOUS?”
Pitfalls for Business Owners: Recent Court Case on Piercing the Corporate Veil.
We are heading towards the end of the year – I love the Christmas season! One thing that comes to mind for local business owners going into the New Year – make sure that your legal documents and procedures are in proper order. As every business owner should know, one of the main purposes inContinue reading “Pitfalls for Business Owners: Recent Court Case on Piercing the Corporate Veil.”
Big Bank Troubles and Trending Towards Community Banking or Fintech?
“The so-called Sons and Daughters Program was nothing more than bribery by another name,” -Assistant Attorney General Caldwell. Today the Department of Justice issued a Press Release – JP Morgan’s Investment Bank in Hong Kong has agreed to pay a $72 Million Penalty for Corrupt Hiring Scheme in China. Yikes. A couple of thoughts: 1.Continue reading “Big Bank Troubles and Trending Towards Community Banking or Fintech?”
Another Court Lesson for Business Owners: Read Your Contracts Before You Sign.
I recently read yet another court decision that provides a classic example for businesses owners of the consequences for not reviewing your contracts before signing. The case: the October 6th, 2016 Michigan Court of Appeals decision of Earl Pegues, LLC v Izis General Contractors, LLC. The dispute concerned a construction agreement. The property owner, PeguesContinue reading “Another Court Lesson for Business Owners: Read Your Contracts Before You Sign.”
Reminder to Michigan Limited Liability Companies: Maintain your Corporate Formalities and Keep up your Guard.
Occasionally I will have a business client come in and I will ask – just to make sure – “is your business still in good standing?” The common answer is “I think so.” And of course, after I perform a quick internet check with the State of Michigan it is all too common that IContinue reading “Reminder to Michigan Limited Liability Companies: Maintain your Corporate Formalities and Keep up your Guard.”
Update on Community Development and Affordable Housing: Is an Answer Found in Social Enterprise?
Today the Community Development Financial Institutions Fund released its five year Strategic Plan If you are not familiar with the CDFI, the CDFI “works to spur economic growth and opportunity in many of our nation’s most distressed communities.“ “The CDFI Fund’s mission is to expand economic opportunity for underserved people and communities by supporting theContinue reading “Update on Community Development and Affordable Housing: Is an Answer Found in Social Enterprise?”
Real Estate Investors Bidding at Foreclosure Sale: If You Pay Less than owed on the Mortgage, there is no Surplus.
Real estate investors and lenders are under pressure to “get it right” when bidding at sheriff sales, especially in a market where good deals are getting harder to come by. Some lenders/investors have tried some creative methods of recovery and made some interesting legal arguments in order to maximize their profit at or after foreclosureContinue reading “Real Estate Investors Bidding at Foreclosure Sale: If You Pay Less than owed on the Mortgage, there is no Surplus.”
Purpose Driven General Counsel 