Our Attorneys

Financial Institutions . . . In the News

  • Machias Bancorp MHC and its subsidiaries newest bank directors are Zachary Means and LuAnn Ballesteros. (Mount Desert Islander 6.4.2015)
  • US Regulators urge caution when considering reverse mortgages.  (Maine News Online 6.5.2015)
  • Financial decisions today may not be wise for tomorrow.  (Pittsburg Post-Gazette 6.11.2015)
  • Houses vacated during the foreclosure process create numerous issues for lenders and neighborhoods.  ( 6.12.2015)
  • Androscoggin Bank’s trust department seeking approval to become Portland Trust Co. to have offices in Lewiston and Portland.  (PPH 6.15.2015)
  • Maine community banks almost double the value of commercial loans processed from 2007 to 2014.  (PPH 6.18.2015)
  • Mortgage restrictions imposed on six banks for failing to comply with home foreclosure enforcement orders.  (Maine News Online 6.18.2015)

Verrill Dana to Present Two Maine Startup & Create Week Partner Programs

Verrill Dana is partnering with Maine Center for
Entrepreneurial Development and the Maine Angels
to host two Maine Startup & Create Week programs.

We hope you are able to join us for both events!

WHEN: Tuesday, June 23, 12:30 – 2:00 PM
WHERE: Verrill Dana
One Portland Square, 9th Floor
Portland, ME

Join us for this panel discussion with Don Gooding, MCED, Greg Fryer, Verrill Dana, Bradley McCurtain and Judith Shaw from the Maine Office of Securities. This workshop will review the important details about the Maine Equity Crowdfunding law, aka Fund-ME, and in particular the new instruction manual to help entrepreneurs fill out the application. Important questions to be discussed include: what are the steps you need to go through before you start your application? When might a securities attorney be helpful or necessary? What role might broker/dealers play? How much might it cost?

WHEN: Tuesday, June 23, 3:00 – 4:00 PM
WHERE: Verrill Dana
One Portland Square, 9th Floor
Portland, ME

Now in its twelfth year, the Maine Angels regularly ranks on the national Halo list as one of the most active angel investment groups in the country. They usually meet behind closed doors; now is your chance to meet them, hear a bit about their investment strategy, and see if Maine Angels is a fit for you as an entrepreneur or investor.

Click here to view the full schedule of Maine Startup & Create Week events.


Madden v. Midland Funding: National Bank Act does NOT preempt state usury laws for non-national bank

On May 22nd, the US Court of Appeals for the Second Circuit decided that the National Bank Act would not preempt a state law usury claim against the assignee of credit card debt -- a non-national bank -- that was initially issued by a national bank.

Click to read more ...


Financial Institutions . . . In the News

  • The second annual financial “stress test” of Fannie Mae and Freddie Mac show improvement.  (PPH 5.1.2015)
  • Wells Fargo’s stand-alone division focusing on commercial banking in New England.  (Boston Business Journal (5.4.2015)
  • Maine mortgage foreclosures are down due to the Greenleaf case ruling by the Maine Supreme Judicial Court.  (BDN 5.6.2015)
  • Four branches of Camden National to close from the acquisition of the Bank of Maine.  (BDN 5.15.2015)
  • US Department of Justice and four Swiss banks reach a deal to turn over US tax evaders.  (Maine Mirror 5.29.2015)
  • $3 million reinvested in Caribou from Maine State Retirement System surplus.  (BDN 5.30.2015)

Financial Institutions . . . In the News

  • A suit was filed against Quicken Loans by the Department of Justice for mortgage misconduct.  (Maine News Online 4.27.2015)
  • Deutsche Bank agreed to $2.5 billion settlement and other sanctions for fraud and anti-trust charges. (Maine Mirror 4.24.2015)
  • US banks plan to issues more microchip debit and credit cards to help prevent fraud.  (Mainebiz 4.20.2015)
  • Maine’s foreclosure inventory continues to decline.  (Benzinga 4.19.2015)
  • The MERS (Mortgage Electronic Registration System) is strongly being debated in Augusta.  (The Free Press 4.16.2015)
  • Some banking systems in Europe paying customers to take out loans.  (MPBN 4.14.2015)