News

By:  Edward L. Kelly Many settlement agreements contain mutual releases by the parties of claims against each other.  For institutional lenders, workouts of defaulted loans often result in the execution of such agreements by the parties.  When drafting any release language, lenders would be wise to include language restricting the effect of the release to the subject matter... read more

By Edward L. Kelly Florida’s doctrine of ratification allows for enforcement of a contract against an individual who did not actually sign the contract so long as the individual intended to affirm the contract and possessed full knowledge of the material facts surrounding transaction. In the mortgage context, the doctrine provides banks an avenue to enforce a mortgage where the property... read more

By Edward L. Kelly Rogers Towers, P.A. and the Florida Banking Law Blog have previously emphasized how provisions of Chapter 655 of the Florida Banking Code governing the creation and administration of checking and savings accounts in the names of multiple parties are primarily designed to protect banks in establishing and maintaining such accounts. The Florida legislature did not create... read more

By Edward L. Kelly The Florida Banking Law Blog has stressed that Florida courts are quick to render judgments in favor of borrowers in foreclosure actions based on lenders’ lack of standing. The Florida’s Fourth District Court of Appeals has proven particularly active in finding that lenders failed to properly establish that they held their respective notes at the time of filing... read more

By Edward L. Kelly Banks that meet the statutory definition of “debt collector” under the Fair Debt Collection Practices Act (“FDCPA”) are prohibited from engaging in abusive consumer debt collection practices. Excluded from the debt collector classification are those banks that qualify as “creditors” under the FDCPA. But what if a bank that acquires a debt... read more