Banking and Transactional: Secured Lending
The Changing Financial Industry
Over the past decade, financial institutions have undergone a revolution in their industry. In this age of changing regulatory environment and innovative marketing and growth strategies, banks and other financial institutions require legal counsel that is closely involved in their industry and able to provide prompt and cost-effective services.
Leonard, O’Brien, Spencer, Gale & Sayre, Ltd. has represented financial institutions in virtually every aspect of their changing business. We represent money center banks, regional financial institutions and lenders of all sizes. We also work on behalf of the financial institutions’ affiliates and captive insurance companies.
In addition, we represent industrial loan companies, mortgage bankers, savings & loans, and “non-bank” banks. We often work on behalf of other attorneys, as local counsel or as chief outside counsel to in-house financial institution legal departments.
We pride ourselves on our prompt and efficient service. We are able to bring together on short notice a team of attorneys within our firm or related independent experts to accomplish our clients’ representation needs. We are efficient and detail oriented. Our clients find that work performed on their behalf is done in a cost-effective manner.
Complete Services for Financial Institutions
Leonard, O’Brien, Spencer, Gale & Sayre, Ltd. banking attorneys have extensive experience working with financial institutions. We advise clients who are organizing new banks or lending entities, as well as clients with established institutions, about compliance with banking laws and regulations and other issues relating to customers and employees.
Licensure, Chartering and Regulatory Matters
Our work with clients has given us opportunities to establish new financial institutions and to represent their interests before regulators about ongoing concerns. We have also assisted our clients with related insurance or real estate entities or activities.
We work regularly with:
- Minnesota Department of Commerce
- Office of the Comptroller of Currency
- Federal Deposit Insurance Corporation
- Office of Thrift Supervision
- Federal Reserve Board
In addition, we have extensive experience working with:
- Department of Housing & Urban Development
- Veterans Administration
- Federal National Mortgage Association
- Federal Home Loan Mortgage Corporation
- Federal Trade Commission
Compliance and Prevention
We provide counsel to our clients to ensure they comply with applicable limitations on interest rates and charges, and other laws and regulations, including:
- Truth In Lending
- Equal Credit Opportunity
- Lending Limits
- Directors and Officers Liability/Indemnification
- Capital Requirements
In this highly regulated industry, we also serve as an advocate for financial institutions. We monitor legislation and inform our clients if they might be interested or adversely affected. We are also actively involved in presenting testimony on behalf of financial institution clients, and work with them to present their positions on pending legislation or proposed administrative rules. Our down-to-earth approach allows us to explain our clients’ needs to legislators in a way which is easily understood.
Finally, our philosophy is one of prevention. Leonard, O’Brien, Spencer, Gale & Sayre, Ltd. attorneys regularly give financial institution clients advice and counsel in the following areas:
- Lender Liability
- Employment Related Issues (Wrongful Discharge and Discrimination)
- Workouts and Bankruptcies
- Credit Access
- Environmental Matters
Other Banking Services
Leonard, O’Brien, Spencer, Gale & Sayre, Ltd. has extensive experience and expertise in loan documentation and lender-customer transactions.
In our day-to-day relationships with banking clients, we are involved in the following types of transactions and areas:
- Mortgage Transactions and Servicing
- Debt Liquidations
- Employment Matters and Bank Security
- Development of Products
- Real Estate Workouts
- Commercial Litigation
- Letters of Credit
- Trust Litigation
- Administrative Rulemaking
- Real Estate Tax Abatement
Professional and Industry Involvement
Leonard, O’Brien, Spencer, Gale & Sayre, Ltd. and its attorneys maintain memberships in such organizations as the Minnesota Bankers Association, the Mortgage Bankers Association of Minnesota, and the Minnesota Consumer Finance Conference. The firm’s attorneys are regular organizers and lecturers at continuing education seminars, and are active members in local, state and national bar association sections, committees and task forces involved in financial institution law issues.
The attorneys at Leonard, O’Brien, Spencer, Gale & Sayre, Ltd. are eager to assist financial institutions in accomplishing their goals. If you would like further information about our firm, or require assistance, please contact us.