Accomplished Peoria Law Firm Advises Credit Unions and Banks
Attorneys providing comprehensive counsel for financial institutions
Running a credit union or bank demands dedicated legal support from skilled attorneys with diverse experience. From regulatory compliance to handling the detailed negotiations associated with financial transactions, Westervelt, Johnson, Nicoll & Keller, LLC capably represents institutions throughout central Illinois. For more than a century, our firm has assisted the businesses that help so many others in our community to grow and thrive.
Assisting credit unions and banks with regulatory compliance
Financial institutions must comply with a range of federal and state regulations. Our lawyers assist all types of financial companies in satisfying a full range of regulatory requirements, including:
- The Real Estate Settlement Procedures Act (Regulation X),including the mortgage servicing rules
- The Truth in Lending Act (Regulation Z)
- The Electronic Fund Transfer Act (Regulation E)
- Privacy of Consumer Financial Information (Regulation P)
- The Illinois Credit Union Act
For these matters and others, we thoroughly review the relevant rules so that you can understand the rationale for each requirement and feel secure in your firm’s compliance.
Comprehensive counsel for bankruptcy reorganization matters
When difficult circumstances make it impossible to continue operating a business in the same way, our firm helps companies reorganize under the relevant bankruptcy chapter. The law exists to aid firms in these situations, and we understand how to advocate for a fair adjudication that gives your business the best chance at success going forward. Our background in bankruptcy court also helps us when representing creditor clients so that their interests are considered in any discharge decision.
Skilled counselors to structure and close commercial lending agreements
Preparing a complicated business loan requires adherence to all legal requirements and the creativity to craft an arrangement that meets each party’s unique needs. Our attorneys know how to structure, negotiate and close sophisticated loan transactions from both the borrower’s and lender’s sides. We make sure that all obligations and responsibilities are clearly designated so that all foreseeable contingencies are addressed. By doing this, the parties can rely on a mutually beneficial agreement with no surprises down the road.
Providing experienced advocacy in creditor’s rights litigation
Westervelt, Johnson, Nicoll & Keller helps businesses to recover money that is owed to them. We use a variety of methods to locate and collect the funds from debtors, and take them to court when necessary. Through legal discovery and our own investigation, we can find assets that might not be readily apparent so that our clients can receive what is rightfully theirs.
Working with troubled borrowers to create loan workouts
In many cases, financial institutions are looking to avoid foreclosure as much as the borrower is. That’s why many of our financial institution clients focus so hard on resolving potential foreclosures with loan modifications or workouts. We use our extensive background and local knowledge to find terms that allow each community member to protect what they have.
Contact a Peoria firm representing financial institutions for more than 150 years
If your credit union or other financial institution seeks legal advice on compliance, transactional or litigation matters, call Westervelt, Johnson, Nicoll & Keller, LLC at 309-671-3550 or contact us online to schedule a meeting.