Illinois legislature passes SB16 to address effect of In re Crane decision

In response to the now infamous In re Crane decision, the Illinois legislature yesterday passed SB 16. The relevant language appears at the end of the enrolled bill at the following link: SB0016 The bill will become law effective June 1, 2013,  if signed by Governor...

New Missouri Court of Appeals Decision Regarding the Enforceability of Spousal Guarantees under Regulation B of the Equal Credit Opportunity Act

Commercial lenders in Missouri should be aware of a recent Missouri Court of Appeals opinion regarding the enforceability of spousal guarantees under Regulation B of the Equal Credit Opportunity Act (the “ECOA”).  The case, titled Frontenac Bank v. T.R. Hughes, Inc....