Omaha Banking and Financing Attorneys

Legal Assistance for Nebraska Banks and Lenders

The banking and finance industry is regulated by both state and federal law, which means banks and lenders face legal challenges that other industries and businesses do not. When structuring processes, documents, and contracts for the lending and borrowing of money, it is imperative that banks and lenders have a lawyer who knows banking and finance law to ensure state and federal compliance.

Navigating State & Federal Banking Laws

Regulations for financial institutions change daily, both from a federal level and a state level. Each law may affect the processes for developing mortgages, outlining lending limits, acquiring real estate, and even evaluating livestock loans. In the state of Nebraska alone, there are four financial institutions that can operate under state law:

• Commercial Banks
• Credit Unions
• Savings Banks
• Trust Companies

These institutions all operate under a dual system where they must abide by both federal and state regulations. State-charted banks, for example, are regulated by the Nebraska Department of Banking and Finance (NDBF) and also insured by the Federal Deposit Insurance Corporation (FDIC), each of which operate have their own standards of practice. In contrast, national or federal credit unions are not overseen by the NDBF, but the National Credit Union Association (NCUA) instead. To fully understand the scope of these regulations, it is best to review your financial practices, from real estate contracts to loans, with a skilled Nebraska banking and financing attorney.

Difficulties Preparing Banking Contracts

In addition to understanding the complexities of federal and state banking regulations, financial institutions may face difficulties when drafting and preparing contracts for individual clients. Often, institutions default to standard forms and templates that may include generalized language surrounding a loan or real estate acquisition. This practice remains inflexible and may leave a company open to a contract dispute if industry specific provisions are not included.

There are a number of different issues that may arise when preparing contracts, including:

• Breach of contract
• Offer and acceptance
• Unclear language
• Disputes over a technical term
• Fraud
• Coercion

Many of these issues can be resolved beforehand by carefully drafting and reviewing each contract on a client by client basis to ensure there is no room for error. However, if a dispute still occurs after a contract is signed, actions can be taken to achieve a resolution that benefits both parties without having to go to trial. By working closely with a commercial litigator, you can find creative solutions to avoiding financial disputes or resolving them altogether.

Importance of Contacting an Experienced Litigator

The banking and financing landscape changes every year with new regulations, standards, and competitors rising up. Both large and small banks may find it difficult to react to all these changes while managing their day-to-day business, which is why it is important to review your financial plans with an experience attorney who has a thorough knowledge of state and federal regulations, the ability to react swiftly to any potential issues a client might have, and the patience to work through complicated procedures and documents.

At Bottlinger Law L.L.C., we can help you protect your commercial interests and manage financial liabilities. We have helped banking and finance clients from small community banks to credit unions with procedures and documentation for mortgage loan servicing, secured transactions, international transactions, commercial loan servicing, acquisition financing, and more. To discuss your legal matter with a lawyer, call (402) 505-8234.

Additional Information

• Nebraska Department of Banking and Finance
• Important Banking Laws - FDIC