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New credit agreement language goes into effect in Missouri on August 28

David Warfield August 16, 2013

Lenders dealing with Missouri borrowers should be aware of a small, but very important, change in Missouri law regarding credit agreements that becomes effective on August 28, 2013. READ MORE

Keep rejected loan applicants in the loop or face possible punitive damages

Jeff Fink April 18, 2013

If a bank has approved a loan application but later changes its mind, it should promptly advise the loan applicant; otherwise, the bank may face liability for punitive damages. This was the lesson in Bailey v. Hawthorn Bank before the Missouri Court of Appeals Western District. READ MORE