Business Law Section

The Business Law Section furthers the knowledge of its members in the law of the Uniform Commercial Code, banking law, corporate law, partnership law, matters of debtor and creditor relations, and litigation practice related to such law.

Chair
Frost Brown Todd LLC
150 3rd Avenue South, Suite 1900
Nashville, TN 37201
(615)251-5571
Immediate Past Chair
Woolf, McClane, Bright, Allen...
PO Box 900
Knoxville, TN 37901
(865)215-1000
Vice-Chair
Harwell Howard Hyne Gabbert &...
333 Commerce Street, Suite 1500
Nashville, TN 37201
(615)256-0500

Circuits Split on Definition of ‘Applicant’

In her Journal column this month, Kathryn Reed Edge makes a prediction: "As the financial crisis wanes and fewer banks are plagued by their borrowers’ credit problems, we in the business are seeing the federal banking agencies gear up for an energetic assault on consumer compliance violations." And adding to the confusion that many bank compliance officers have in interpreting the Equal Credit Opportunity Act, she writes that two judicial circuits, the 6th and the 8th, "have split on a seemingly simple issue of the definition of 'applicant' under the ECOA." She explains the important differences and advises readers of her column "Bank On It" to watch the U.S. Supreme Court for an answer.

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Appeals Court Deals Blow to U.S. in Insider Cases

The Second U.S. Circuit Court of Appeals yesterday dealt a blow to the government's success in insider trading prosecutions by reversing two convictions with a decision that also jeopardizes a third — and attempts to further define how far prosecutors can push the law in their quest to clean up Wall Street. The three-judge panel criticized the government for a blitz of Manhattan insider trading prosecutions that resulted in over 80 convictions since 2008, citing the "novelty of its recent insider trading prosecutions, which are increasingly targeted at remote tippees many levels removed from corporate insiders."  WRCB reports from the Associated Press.

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