Dave Camp Announces Hearing on the Treatment of Closely-Held Businesses in the Context of Tax Reform

Congressman Dave Camp (R-Mi), Chairman of the Committee on Ways and Means, has announced that the Committee will hold the second of two hearings on how accounting rules cause different types of businesses – specifically, publicly-traded and closely-held businesses – to evaluate tax policy choices differently. Whereas a previous hearing focused on financial accounting rules […]

Bank Which Acquires Assets of Another Bank Must Record its Interest in Mortgage Before Foreclosing By Advertisement

Facts and the Court’s Ruling Plaintiffs, husband and wife, obtained a $615,000.00 loan from Washington Mutual Bank to refinance their home. and granted the bank a mortgage on their property.  The U.S. Department of Treasury closed Washington Mutual Bank and appointed the FDIC as receiver.  Defendant J P Morgan Chase Bank purchased all of Washington Mutual’s […]