Creditors Practice Section

This section was created for attorneys who are in the creditors practice field. It provides its members the opportunity to exchange information with other practitioners in this area of practice, provides timely CLE and legislative updates.

Cheadle Law
2404 Crestmoor Road
Nashville, TN 37215
Immediate Past Chair
Portfolio Recovery Associates, LLC
120 Corporate Blvd East
Norfolk, VA 23502

BancorpSouth Fined for ‘Redlining’ in Memphis

The U.S. Department of Justice and the Consumer Financial Protection Bureau have fined Mississippi-based BancorpSouth $10.6 million for deliberately discriminating against minorities in its lending practices. The action alleges the bank avoided construction of branches in minority neighborhoods in Memphis and charged higher interest rates on loans made to minorities than to non-minorities. The Daily Times has more from the AP.

read more »

Senate, House Pass Bill on Continuing 6-Month Garnishments

Continuing six-month garnishments will now reach individuals who are paid by commission or otherwise, and will be treated as employer garnishments under TBA-sponsored legislation. The measure – SB1969 / HB1775 by Shelbyville Republicans Sen. Jim Tracy and Rep. Pat Marsh – as amended today passed the Senate with a 32-0 vote and the House with a vote of 91-0. Read the amendment that makes the bill.

read more »