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Bank Law Monitor

A legal blog for the financial services industry

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Governor Brown Signs HB 2009 into Law
On June 1, 2021, Governor Brown signed Oregon’s newest foreclosure moratorium bill (HB 2009) into law. As detailed in our prior write-up, HB 2009 imposes a moratorium on foreclosures in Oregon for loans secured by real property “upon which is situate...
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Ninth Circuit Affirms That “Cascading Scandals” and a General Stock-Price Decline are Insufficient to Establish Loss Causation under California Securities Law
On May 19, 2021, the Ninth Circuit affirmed the dismissal of a putative securities fraud class action against Uber Technologies, Inc. and its co-founder and former CEO, Travis Kalanick, holding that, under California law, investors cannot simply alle...
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Significant Amendments to Washington Homestead Exemption Signed Into Law
On May 12, 2021, Governor Jay Inslee signed SB 5408, enacting a significant increase in Washington’s homestead exemption. The legislation includes other important revisions addressing the treatment of homestead appreciation during a bankruptcy and th...
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HB 2009 Moves to Senate Floor
Earlier this afternoon, the Oregon Senate Committee on Housing and Development voted 3-2 to advance House Bill 2009 (HB 2009) out of Committee and to the Senate floor for a final vote on the Bill. Prior to advancing HB 2009, the Committee adopted an...
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Expanded Bankruptcy Subchapter V Eligibility for Small Business Debtors Extended for Another Year
On March 27, 2021, the COVID-19 Bankruptcy Relief Extension Act of 2021 was signed into law. This legislation extends the increased debt limit for small businesses to be eligible to reorganize under subchapter V of the Bankruptcy Code. While the incr...
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HB 2009 Moves to Floor Vote
On March 24, 2021, the Oregon House Committee on Banking and Labor voted to advance House Bill 2009 (HB 2009) to a floor vote. As detailed in our prior write-up of the Bill, HB 2009 would extend Oregon’s foreclosure moratorium for certain loans throu...
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