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School of Law
1045 W. Maple St.
Robert A. Leflar Law Center
Waterman Hall
University of Arkansas
Fayetteville, AR 72701

Phone: (479) 575-5601

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University of Arkansas School of Law

Arkansas Law Notes

Financial Institutions Law

Chapter 12 Bankruptcy: Family Farm Restructuring

This overview of Chapter 12 Bankruptcy is written to provide an introduction to the basic Chapter 12 process, highlighting some of the issues that distinguish it from other types of bankruptcy and explaining how it may be useful to family […]

Defalcation by a Fiduciary – A New Standard

I am writing about a bankruptcy case from the Supreme Court. This changes cases from the Eighth Circuit and this is why I am discussing it. The case is Bullock v. BankChampaign.[1]. The issue concerns whether a debt is dischargeable when the debtor obtains a bankruptcy discharge. The phrase in the Bankruptcy Code is “defalcation by a fiduciary”. If the fiduciary has done this, the debt is not discharged. This issue does not come up frequently, but when it comes up, this is an important change.

The Credit CARD Act of 2009 – Four Years Later

The Credit Card Accountability Responsibility and Disclosure Act of 2009 (the “Credit CARD Act”), was signed into law by President Obama on May 22, 2009. As described by the Senate Report, its purpose was “to implement needed reforms and help […]

SEC Lifts Ban on General Solicitation, Adopts “Bad Actor” Rules and Proposes Changes to Regulation D and Form D

On July 10, 2013, the Securities Exchange Commission (“SEC”) adopted and released a number of highly anticipated amendments to Rule 506 of Regulation D of the Securities Act of 1933, as amended, that (i) effectively lift the ban on general solicitation and general advertising of securities in certain private offerings under Rule 506, as mandated by Section 201(a) of the Jumpstart Our Business Startups Act (the “JOBS Act”), and (ii) disqualify securities offerings involving certain “bad actors” from relying on the exemption under Rule 506, as mandated by Section 926 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank”).[2]

The Impact of the 2012 National Mortgage Settlement’s Servicing Standards

In February 2012, after a lengthy investigation, the attorneys general of forty-nine states (all but Oklahoma), the District of Columbia and the federal government reached an agreement with five large banks and mortgage servicers to address widespread problems in the […]

Counterfeit Checks — What Rules Should Cover These?

Let’s start with the facts of a Seventh Circuit case, Wachovia Bank, N.A. v. Foster Bancshares, Inc. Last year I wrote to say we in Arkansas should not follow an Ohio case. Here I argue that we should not follow the reasoning of a Seventh Circuit case. Even worse, part of its reasoning is used in an earlier Texas case. I would think that Arkansas courts would follow cases from the Seventh Circuit and the Texas Court of Appeals. I hope they do not. What follows are some arguments you can use to try and convince a court not to follow either of these cases. I guess I have a bit of chutzpah!

Bankruptcy Flow Charts

Recently I realized that each year in my class I would cover the chalkboard with various charts and time lines and diagrams in an attempt to help my students understand certain provisions of the bankruptcy code. I like to think […]

Money, Money, Money: Banks, Customers, and the Writing of Checks — a Practitioner’s Primer

If money makes the world go round, and checks are a simple and commonly used means of passing money from one party to another, it follows that checks also make the world go round. And yet many Arkansas lawyers have […]

The Credit CARD Act of 2009 – What is It, and What Does It Do?

The Credit Card Accountability Responsibility and Disclosure Act of 2009 (the “Credit CARD Act”), was signed into law by President Obama on May 22, 2009. As described by the Senate Report, its purpose was “to implement needed reforms and help protect consumers […]

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