Posts from March 2024.

In 1980, Congress passed Public Law 96-221, called the Depository Institutions Deregulation and Monetary Control Act (“DIDMCA”), which, in part, allowed federally insured state banks, state credit unions, and state savings institutions the ability to export the “interest” permitted under their home state laws to customers/borrowers in other states without regard to any “interest” limitations in the customer’s/borrower’s home or domiciled state. This put state-chartered banks on equal footing with national banks and federal credit unions, which already could lend across the nation at any interest rate allowed in their respective home states. DIDMCA, under Section 525, also permitted states to opt-out of allowing this kind of interest rate exportation (Sections 521-523 of DIDMCA). As referenced above, federal interest rate exportation authority of national banks or federal credit unions is not based on DIDMCA and will therefore not apply to the following discussion.

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Over the years many clients have forwarded to us scam trademark mailings. These mailings come from various official-sounding sources, all of which seek money to allegedly take action regarding the client’s trademarks. However, we have learned of a new, bolder scam.  We have multiple reports of clients receiving telephone calls claiming to be from the United States Patent and Trademark Office (USPTO). The caller claims an immediate payment is needed to maintain a trademark filing, when no such payment is in fact needed. The caller is armed with specific data about the filing (which is all public record) and often calls within a day or two of when an application is filed. One caller even spoofed the USPTO telephone number, and pointed their potential victim to that number on the USPTO website in an effort to legitimize their claims.

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