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Financial Services Quarterly

 
Financial Services Alert: Employers Beware: Employment Contracts - New Rules on Restrictive Covenants in Illinois
In Fifield v. Premier Dealer Services, the Illinois appellate court held that the offering of a job will no longer be considered adequate consideration to support restrictive covenants, unless the job lasts typically, at least two years.
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Financial Services Alert: How Much Control Can the Lender Exercise in Workouts?
There has been much discussion on the amount of control a lender can exercise over the borrower’s business in workout situations, and a lot of uncertainty. It’s time to revisit this issue and provide a few guidelines for lenders.
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Financial Services Alert: MERS’ Victory in Court May Have Positive and Negative Effects
MERSCORP, Inc. successfully defended itself against a suit filed by a county recorder that claimed that the company's practice of refusing to record or pay for the recordation of promissory note assignments unjustly enriches the company.
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Financial Services Alert: Seventh Circuit Opinion Protects Mortgage Lenders
On December 23, 2013, a collective sigh of relief could be heard from secured lenders across Illinois as the United States Court of Appeals for the Seventh Circuit held that a mortgage that does not state on its face the maturity date or the interest rate
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Financial Services Alert: Lender Vindicated After Being Sued for Force-Placing Insurance
A borrower defaulted on her mortgage loan by failing to maintain insurance on her home, and then sued the lender and its insurance-agency affiliate in a class action lawsuit for fraud, consumer fraud, breach of contract, and unjust enrichment.
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