April 17, 2025
Under the current version of the WV Consumer Credit and Protection Act, §§ 46A-1-101 et seq., a consumer’s claims expire upon their death. Several circuit courts reached that decision in cases due to the definition of “consumer” set forth in §46A-2-122(a) being defined as a “natural person.” W. Va. Code § 46A-2-122(a).
House Bill 3162, passed by the West Virginia Legislature during the 2025…
May 29, 2024
Ratios. Percentages. Ranges. In banking, metrics matter. Too much liquidity? Too little liquidity? Increasing number of accounts more than 30 days past due? Increasing number of defaults? Too few new deposit accounts? Too small of a gap in interest rates? A small change in any one of the metrics measuring a bank’s performance can be the first indicator of a potential issue that could later turn…
August 20, 2021
This article was originally published in the July/August issue of Kentucky Banker Magazine.
Bankruptcy filing rates have remained subdued as we emerge from COVID-19 restrictions. However, many of the governmentally mandated or funded relief measures that have sustained many individuals and businesses are set to expire in the coming months. The removal of the support measures increases the risk of…
July 23, 2021
Most community bank boards aspire to maintain long-term independence.Supporting that aspiration requires a commitment to five distinct pillars: Performance, Shareholders, Management, Leadership, and Vision. A consistent focus on all five pillars can significantly increase the bank’s chances of remaining independent or supporting a high price for being acquired. Neglecting any one pillar will…
March 4, 2021
On March 3, 2021, the Small Business Administration (SBA) issued an interim final rule titled, “Business Loan Program Temporary Changes; Paycheck Protection Program-Revisions to Loan Amount Calculation and Eligibility” (IFR)1 and updated application forms related to the Paycheck Protection Program (PPP). The new rule will allow individuals who file an IRS Form 1040, Schedule C to calculate their…
February 22, 2021
Today the White House announced substantial proposed changes to the Paycheck Protection Program (PPP) some of which will take effect on February 24, 2021. On February 22, 2021, The White House Posted, “FACT SHEET: Biden-Harris Administration Increases Lending to Small Businesses in Need, Announces Changes to PPP to Further Promote Equitable Access to Relief” (Fact Sheet).1 The proposal includes a…
January 7, 2021
On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA)1 became law. The CAA contains the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act). The Economic Aid Act contains numerous provisions amending the Paycheck Protection Program (PPP). The effective dates of the amendments vary. If not otherwise provided, the provisions of the Economic Aid…
December 30, 2020
The Paycheck Protection Program (PPP) is back for a limited time. There is also a new program: Paycheck Protection Program Second Draw Loans (PPP Second Draw).
On December 27, 2020, the President signed HR 133 Consolidated Appropriations Act, 2021 into law. HR 133 includes the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Act). The Act reauthorizes the PPP that lapsed on…
December 15, 2020
Banks are exposed to ransomware risks that extend beyond cyber-attacks on their own systems. Banks participating in ransomware payments by victims may expose the bank to penalties for violations of Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) regulations. On October 1, 2020, the United States Treasury, through FinCEN and OFAC, issued advisories related…
December 10, 2020
On December 9, 2020, the Small Business Administration (SBA) issued an update to its Paycheck Protection Program Frequently Asked Questions (FAQs)1 to address why some Paycheck Protection Program (PPP) borrowers are receiving a Loan Necessity Questionnaire2 (Questionnaire). For over a month, draft questionnaires have been circulating and used by the SBA without official publication or…
November 30, 2020
All borrowers under the Paycheck Protection Program (PPP) certified that “current economic uncertainty makes this loan request necessary to support the ongoing operation of the Applicant.”1 The Small Business Administration (SBA) has long planned to review borrower eligibility for all loans in excess of $2 million, in addition to other loans as appropriate, following a lender’s submission of the…
November 23, 2020
The method for perfecting a lien on a mobile home depends upon whether it is considered personal or real property. The West Virginia Supreme Court has recently confirmed that there are two paths to finding that a mobile home may be considered real property for lien perfection purposes. In Sheehan v. Mortgage Electronic Registration Systems, Inc.1 the court held that the process described in West…
April 17, 2025
Under the current version of the WV Consumer Credit and Protection Act, §§ 46A-1-101 et seq., a consumer’s claims expire upon their death. Several circuit courts reached that decision in cases due to the definition of “consumer” set forth in §46A-2-122(a) being defined as a “natural person.” W. Va. Code § 46A-2-122(a).
House Bill 3162, passed by the West Virginia Legislature during the 2025…
May 29, 2024
Ratios. Percentages. Ranges. In banking, metrics matter. Too much liquidity? Too little liquidity? Increasing number of accounts more than 30 days past due? Increasing number of defaults? Too few new deposit accounts? Too small of a gap in interest rates? A small change in any one of the metrics measuring a bank’s performance can be the first indicator of a potential issue that could later turn…
August 20, 2021
This article was originally published in the July/August issue of Kentucky Banker Magazine.
Bankruptcy filing rates have remained subdued as we emerge from COVID-19 restrictions. However, many of the governmentally mandated or funded relief measures that have sustained many individuals and businesses are set to expire in the coming months. The removal of the support measures increases the risk of…
July 23, 2021
Most community bank boards aspire to maintain long-term independence.Supporting that aspiration requires a commitment to five distinct pillars: Performance, Shareholders, Management, Leadership, and Vision. A consistent focus on all five pillars can significantly increase the bank’s chances of remaining independent or supporting a high price for being acquired. Neglecting any one pillar will…
March 4, 2021
On March 3, 2021, the Small Business Administration (SBA) issued an interim final rule titled, “Business Loan Program Temporary Changes; Paycheck Protection Program-Revisions to Loan Amount Calculation and Eligibility” (IFR)1 and updated application forms related to the Paycheck Protection Program (PPP). The new rule will allow individuals who file an IRS Form 1040, Schedule C to calculate their…
February 22, 2021
Today the White House announced substantial proposed changes to the Paycheck Protection Program (PPP) some of which will take effect on February 24, 2021. On February 22, 2021, The White House Posted, “FACT SHEET: Biden-Harris Administration Increases Lending to Small Businesses in Need, Announces Changes to PPP to Further Promote Equitable Access to Relief” (Fact Sheet).1 The proposal includes a…
January 7, 2021
On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA)1 became law. The CAA contains the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act). The Economic Aid Act contains numerous provisions amending the Paycheck Protection Program (PPP). The effective dates of the amendments vary. If not otherwise provided, the provisions of the Economic Aid…
December 30, 2020
The Paycheck Protection Program (PPP) is back for a limited time. There is also a new program: Paycheck Protection Program Second Draw Loans (PPP Second Draw).
On December 27, 2020, the President signed HR 133 Consolidated Appropriations Act, 2021 into law. HR 133 includes the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Act). The Act reauthorizes the PPP that lapsed on…
December 15, 2020
Banks are exposed to ransomware risks that extend beyond cyber-attacks on their own systems. Banks participating in ransomware payments by victims may expose the bank to penalties for violations of Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) regulations. On October 1, 2020, the United States Treasury, through FinCEN and OFAC, issued advisories related…
December 10, 2020
On December 9, 2020, the Small Business Administration (SBA) issued an update to its Paycheck Protection Program Frequently Asked Questions (FAQs)1 to address why some Paycheck Protection Program (PPP) borrowers are receiving a Loan Necessity Questionnaire2 (Questionnaire). For over a month, draft questionnaires have been circulating and used by the SBA without official publication or…
November 30, 2020
All borrowers under the Paycheck Protection Program (PPP) certified that “current economic uncertainty makes this loan request necessary to support the ongoing operation of the Applicant.”1 The Small Business Administration (SBA) has long planned to review borrower eligibility for all loans in excess of $2 million, in addition to other loans as appropriate, following a lender’s submission of the…
November 23, 2020
The method for perfecting a lien on a mobile home depends upon whether it is considered personal or real property. The West Virginia Supreme Court has recently confirmed that there are two paths to finding that a mobile home may be considered real property for lien perfection purposes. In Sheehan v. Mortgage Electronic Registration Systems, Inc.1 the court held that the process described in West…
