Legal and Regulatory Compliance

Our credit union philosophy is reflected in our work and options. In this litigious era, credit unions need options that will help protect them in an affordable manner.

Benefit of 600+ Credit Union Participants: Our resources incorporate input and experiences from Credit Unions from around the country. Thus, you will find timely, practical and relevant resources and up-to-date items. Real day-to-day applications and events are what we find to be most helpful to our credit union clients.

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Due Diligence

Our clients are engaging in more and more third-party relationships, which allow credit unions access to more products and services and allows for the benefit of external expertise. This outsourcing results in increased member services, competitiveness, economies of scale, increased delivery channels, and allows our clients to reach new members.

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Representation of Creditors:

The lawyers of Sherpy & Jones believe in providing responsive service to its clients that enables them to navigate the bankruptcy system to their highest benefit. Our clients are able to successfully avoid unnecessary losses by receiving practical advice and guidance based on decades of combined experience. We are available to attend and question debtors at §341 meetings of creditors, draft and present reaffirmation agreements, and object to flawed Chapter 13 plans.

Our lawyers work to ensure that creditors receive adequate protection, that debtors obtain insurance covering collateral, and that Proofs of Claims are properly filed to allow for the full benefit of cross-collateralization, if appropriate. We frequently obtain relief from the automatic stay so that collateral may be reached and sold. While we concentrate on cases falling under Chapter 13 and Chapter 7 of the bankruptcy code, our attorneys also handle complex cases falling under Chapter 11 as well as Adversary Proceedings.

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Representation of Creditors:

Our attorneys do more than simply obtain judgments against debtors who reside in South Carolina. We provide a full range of approaches to dealing with delinquent members and customers. From demand letters, to Confessions of Judgment, to Supplemental Proceedings, our clients are provided comprehensive solutions to varying challenges.

We frequently handle Claim and Delivery matters for the successful and swift return of collateral, and we are practiced in Supplemental Proceedings/ Rule to Show Cause actions to force debtors to obey court orders for immediate and permanent possession. We are also available to domesticate foreign judgments in South Carolina.

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Representation of Creditors:

South Carolina is a judicial foreclosure state. We pursue foreclosure for our creditor clients, including complex issues involving probate / estate property, quiet title actions, and the creation of easements to encumbered real property. Our attorneys are able to cure a whole host of problems created by a problematic mortgage closing or defective chain of title.

We also represent creditors with junior or subordinate liens on real property being foreclosed, in a defensive posture, to help ensure that the client’s rights are protected. Our lawyers are trained to represent judgment creditors in surplus funds hearings and file claims on their behalf.

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Site News

WebEx Sessions for May & June 2019 - Wednesday, May 15, 2019

Register At:

All Sessions 2 PM EST. 

May 17 // 2 PM EST

A Review and Update of UDAAP – where it is; how it is being used; and what you should be doing to dot I’s and cross T’s under this nebulous rule as to specific matters and generally to support overall risk management and compliance health. Presenter: Todd Sherpy. Time: 1 Hour.  Event Number: 669 991 899. Password – If Required: andrea

May 21 // 2 PM EST

Top Issues Per My Work with Credit Unions – In this session I will pull my most common or highest risk “items” from one on one work and share these gems so you may be better prepared to deal with issues your sister Credit Unions have already encountered.  Presenter: Todd Sherpy. Time: 1 Hour.  Event Number: 662 606 135. Password – If Required: barry

May 23 // 2 PM EST

POAs versus The “Statutory Agent” About 20 states have added the “Statutory Agent” as an option on accounts. We will discuss the basics to help you understand what this is; differences between it and a POA; legal obligations/exposures; and documentation. Presenter: Todd Sherpy. Time: 45 minutes.  Event Number: 660 420 508. Password – If Required: Chantal

June 6 // 2 PM

Auditing Your Website – Let’s update our general discussion of compliance issues for Credit Union Websites; discuss common mistakes; review the issues and concerns “behind the firewall;” together with sundry UDAAP and Trademark considerations. We will also discuss how many Credit Unions are “de-risking” there sites and the benefits of such actions. Presenter: Todd Sherpy. Time: 45 minutes.  Event Number: 667 389 615. Password – If Required: dorian

June 26 // 2 PM

Mid-Year Regulatory Update – What’s Passed? What’s Pending? What is the action plan? What resources do you need to be allocating to address new or revised statutory or regulatory changes (and/or how can you avail yourself of any benefits?) We will assess Federal Credit Union, CFPB, FRB and other items, the timeline for action and provide tips to ensue you have applicable issues covered. Presenter: Todd Sherpy. Time: 45 minutes.  Event Number: 663 760 298. Password – If Required: erin