Drafting and Enforcing Cross-Collateral Clauses
A NorthLegal Webinar presented February 19, 2025
Duration: 1:48 hrs:minutes
| Cost | How to Attend | How to Obtain Handouts |  |
Are "cross-collateral clauses" enforceable? Should you have and use them, or should you avoid them?
They are the subject of misunderstandings and wildly conflicting opinions among lawyers and even courts—but, meanwhile, consumer financial institutions across the country still successfully use cross-collateral clauses to collect hundreds of thousands of dollars each year!
What exactly are cross-collateral clauses anyway? How are they different from "cross-default" clauses? How are they used in real life situations? What does the law really say about them? How can you set your financial institution up for success if you are going to use them?
During this program, attorney Eric North talks with participants regarding:
• What the laws that govern the use of cross-collateral clauses actually say.
• What courts have said about cross-collateral clauses, why some courts don't like them, and what you can do to address their concerns while still reaping the benefit of the clauses.
• How uninformed, improper or careless use of a cross-collateral clause can get your financial institution in serious trouble.
• How to tell a good cross-collateral clause from a bad cross-collateral clause (and how to make your clause a good one).
• Mistakes your financial institution can make that may cause you to lose the benefit of a perfectly good cross-collateral clause.
• Why it is important to have the support of management before including cross-collateral clauses in your documents and before using them.
• How to properly and effectively use your financial institution's cross-collateral clauses.
NOTE: This program is intended only for employees of consumer lending
institutions. Please contact NorthLegal Training and Publications to obtain approval
before registering if you are not an employee of a consumer lending institution.
Cost/Registration
The fee to attend this archived program is $190.00 if paid by credit card or $200.00 if paid by check. For that fee, you or someone from your financial
institution may view this program as often as you like for a period of 180 days. (NOTE: If your financial institution registered for the live program, you already have free access to the archvied version for six months! Contact NorthLegal for information.)
How to Attend an On Demand Webinar | How to Obtain Handouts
To attend this NorthLegal Webinar, please do the following:
| • | Register. To register online using a credit card, visit the "Register" link, above. To register by mail, call NorthLegal at 623.537.7150. |
| • | Check your email. Within moments after you complete the registration process you should receive two emails. One will be a receipt for the transaction and the other will contain a link and instructions explaining how to use that link to attend the program. |
| • | Download the handout materials using the link appearing in the confirmation email. The confirmation email also includes the password needed to open the materials. |
Speaker: Eric North
Eric North is an attorney who represents the interests of credit unions and other financial institutions respect to litigation, compliance, governance, bankruptcy and collections matters. Eric has appeared in state and federal courts throughout the State of California, and has argued before the Ninth Circuit Court of Appeal.
Eric is also a nationally recognized speaker on legal issues relating to consumer
lending institutions, and has presented hundreds of programs on behalf of national,
state and local leagues and associations from around the country.
Live program scheduling conflict?
No problem! Registration for a NorthLegal webinar automatically entitles you to watch it live AND to watch the archived version as many times as you like for 180 days!
If you or your staff can't make the live program, you still have plenty of time to watch at a time that is more convenient for you!