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The Corporate Transparency Act of 2021 (CTA) requires many legal entities to report detailed ownership information to the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). A March 2025 update now requires only certain foreign-owned entities doing business in the United States to report. This significant shift leaves millions of businesses unsure of their obligations, as …
One week after agreeing to pay a $95 million settlement to resolve a class-action lawsuit, Apple denied its digital voice assistant Siri poses any privacy concerns. The lawsuit claimed Siri recorded private conversations and shared them with third-party advertisers without consent. The plaintiffs alleged that Apple recorded private conversations through the accidental activation of Siri. …
Last week, a widespread Microsoft outage affected airlines, health systems, banks, and television networks worldwide. The outage stemmed from a technical problem with CrowdStrike, the global cybersecurity firm’s antivirus software for Microsoft Windows devices. Thousands of air flights and train services worldwide were canceled, disrupting many other public and retail services. Amazon, Visa, and ADT Security …
Few commercial litigation disputes will go to trial. Some cases may be dismissed, while others may be settled. Alternative dispute resolution (ADR) is one way to resolve your commercial litigation case. Your attorney may advise you to consider ADR. ADR Can Resolve Your Case for Less Money ADR helps bring the two parties together when …
When a New Jersey banking institution issues a mortgage loan, it is doing so at great risk. While many borrowers do their best to stay on top of their mortgage payment and see the loan through to the end, the chance always exists that a borrower could default on the loan. This situation could leave …
It is not uncommon for New Jersey banks and other financial institutions to offer services that involve the institutions acting as fiduciaries. These services typically involve handling personal matters on behalf of a client and doing what is right and necessary to obtain some kind of benefit for the client. However, it is important to remember that not every financial institution or position …
Supplying banking customers with loans is not unusual in many New Jersey banking and financial institutions. However, there are always numerous details to consider when it comes to determining what type of loan a bank should provide to a particular customer, if the entity should provide one at all. Often, one of the most important factors to consider …
Lending money is a tricky business. Though New Jersey banks, credit unions and other financial institutions handle these matters regularly, it is important that the details of every loan transaction are reviewed carefully. Loan agreements work to protect both the lender and the borrower, and it is crucial that those terms meet the needs of …
Banks and other financial institutions in New Jersey put a lot on the line when they provide mortgage loans. In fact, hundreds of thousands of dollars are typically on the line, and if a person does not stay current with the payments on that loan, the bank could start losing money and need to take …
Running a financial institution can be lucrative, but it also means complying with the law. If a bank or credit union does not disclose important information to its potential borrowers, it could be violating the law. As a result, it is wise for any banking institution in New Jersey to ensure that it understands the …
Herold Law, P.A., provides a full range of legal services for businesses in New Jersey, New York, and Florida. To speak with a legal professional experienced in your area of need, call 908-679-5011 or complete our simple intake form on our website to schedule a consultation. While located in Warren, New Jersey for the convenience of our New Jersey clients, we also serve clients in New York and Florida.
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