Tom Hanson was quoted extensively in a Minneapolis StarTribune article about the state budget. As former Gov. Tim Pawlenty’s budget chief during the 2009 Great Recession, Hanson is often tapped for his perspective on the current state budget situation. He commended lawmakers for holding onto more than $1 billion of federal aid for the next budget, alluding to the wake of uncertainty left by COVID-19. “These guys have money to do everything and set some of it aside,” he said.

Click here to read the full story.

Tony Moch was quoted in a BankBeat article on July 6, 2021, about the pandemic’s impact on community banks’ branch networks. Many bank owners are rethinking their branch strategy, but while many large banks divest branches, most community banks are maintaining their branch networks — for now.

“The more pertinent question that bankers will be answering is, what do our branches look like going forward?” said Tony.

Read the full article here.

Jordanne Kissner was quoted by the Minneapolis StarTribune about the complexities of government aid made available for businesses during the COVID-19 pandemic. Many business owners took the federal aid as “free money,” said Jordanne.

“There was some fine print. If you took advantage of both programs, PPP and EIDL, there [is] going to be a reconciliation.”

Read the full story here. Should you wish to discuss any of the topics discussed in the article or other questions your organization may have as a result of the PPP Loan program, EIDL program or other government aid, please feel free to contact our team.

Kyle Kroll was featured in the July 2021 issue of The Hennepin Lawyer in an article about the creative side of Hennepin County Bar Association members. The article embraces the theory that creativity makes better lawyers.

Kyle took up painting in college, and he says, “the art-making process is a great way to open your mind to different ways of communicating a message.”

Read the full article here.

Aimée Dayhoff was interviewed by Super Lawyers, part of Thomson Reuters, for a June 28, 2021, article about what to do if you find yourself in a dispute involving alleged wrongdoing in an investment. If it falls under the umbrella of the Financial Industry Regulatory Authority, then “the first determination that needs to be made is whether you have a choice in the matter or not,” says Aimée.

“If you are required to go through FINRA’s dispute resolution process, then there’s not a whole lot of wiggle room on next steps,” she adds. “There’s the procedure that governs that whole process, and that differs than being just in a courtroom with one judge.”

Read the full article on FINRA’s ligation process here.

Dan Beck was quoted in the Des Moines Sunday Register in a front page story about a development firm in Iowa that has defaulted on numerous loans for projects in the Des Moines, Iowa area. The development firm, Blackbird Investments, owes Lincoln Savings Bank more than $16.2 million and has failed to make loan payments as agreed upon in a payment plan that was structured after their initial default.

In a hearing in May 2021, Dan Beck, representing the bank, expressed deep frustration about the situation. “Not only is Blackbird behind on loan payments, but the bank is at risk of losing $5 million in federal historic tax credits.”

Blackbird’s president Justin Doyle has said, ““Blackbird has been working with lenders on a refinancing package that would pay off existing obligations. This is a very complex refinancing situation, and it is something we are determined to resolve as soon as possible.”

If you have questions about problem loans or distressed credit, please contact any member of our creditors’ remedies, bankruptcy & work-out team.

Erin Mathern, a shareholder with Winthrop & Weinstine, joined Wayne Schiferl of Baker Tilly and James Lehnhoff of Minnesota Housing in an interview regarding the state of affordable housing in Minnesota. The article, published on Finance & Commerce, discusses the 2021 Affordable Housing Summit and the important conversations that are scheduled to take place at the event.

“There are some particularly key topics this year when it comes to our tax credit investors panel,” says Erin, “because we’ll be able to hear how they’re underwriting the new 4% fixed tax credit rate, which is incredibly important, and how investors are responding to the potential changes in the federal corporate tax rate under the Biden administration.”

Read the full article here. For more information on the Affordable Housing Summit or to register, click here.

Data Privacy & Security attorney Nadeem Schwen was quoted by Bloomberg Law in an article about a number of consumer privacy proposals pending in state legislatures.

Nadeem says the proposed “Minnesota Consumer Data Privacy Act” was inspired by the Washington Privacy Act, and it “would give consumers the right to correct, delete, access, and opt out of the processing of their personal data.”

Read the full article here.

Nadeem Schwen was interviewed by Security magazine about the proposed “Minnesota Consumer Data Privacy Act” (MCDPA). The bill was introduced in the Minnesota House of Representatives on February 22, 2021, and is now the primary candidate to become Minnesota’s omnibus consumer privacy law. Nadeem has been at the forefront of this bill’s creation and leads data privacy work for the firm.

“We expect to see more and more states propose new bills and legislation for consumer data privacy protections in the coming months and years,” said Nadeem. “Minnesota is now the latest state to take strides towards enacting an omnibus consumer data privacy law.”

To read the full article, click here. To learn more about the MCDPA and privacy regulations, click here.

Nadeem Schwen was quoted regarding the introduction of a proposed “Minnesota Consumer Privacy Act” (MCDPA) by Fluence Media’s Morning Take, a daily Minnesota tip sheet on politics.  The bill, HF 1492  (Rep. Steve Elkins, DFL-Bloomington and Rep. Mohamud Noor, DFL-Minneapolis), is a significant legislative move for data privacy, very similar to a proposed bill in Washington and bearing resemblances to another passed in Virginia.

Click here to read more on the proposed bill.