Bio

Franklin Drake has practiced in the Raleigh, North Carolina law firm of Smith Debnam Narron Drake Saintsing & Myers for 28 years, following a sixteen year practice specializing in creditor's rights and bankruptcy law in Louisville, Kentucky. Mr. Drake graduated from the University of North Carolina in 1975 with a B.A. with honors and with his law degree in 1978. He has practiced in North Carolina, Kentucky, West Virginia and the federal courts of southern Indiana. For the last 40 years in 46 states, he has lectured regularly at practical training courses, bankruptcy and regulatory compliance programs and webinars. 

Sponsors include NASCUS, CUNA, NAFCU, ACUIA, AACUL, NCUMA, state regulators and more than two dozen state credit union leagues across the US.

During his 42 years in practice, Frank has advised and represented most of the major secured and unsecured financers on secured lending, bankruptcy and regulatory compliance matters. He especially enjoys guiding his clients around compliance pitfalls and how NOT to get sued.

Speaking Topics

How to Serve the Undocumented New Member

Credit Unions exist to serve new members, not to profit from them or to turn them away.    Too often, undocumented foreign nationals desperate for banking services are eligible to join your CU, but lack anything more than their own nation's passport - at best.  No Social Security number, no ITIN, no familiarity with US banking practices, and few language skills.  Can they be served, legally and in conformity with a universe of compliance regulations?   YES - if you do it right.    Here you can earn the best practices and  most effective approaches to provide the most desired services.  More importantly,  you can open your CU's doors to a new demographic eager to participate in something better than "back-pocket-banking

Other Topics:

*Collections & Bankruptcy topics to any extent and in any variation

• A Foolproof Board of Directors = proper Board governance“Adverse Action Decisions &
• Notices – how to say “No”, to whom and when
• Bill it Now or Eat it Later – how to comply with NC GS §45-91
• How to Communicate with a Boomer – effective Boomer-to Millenial office communications
• Business & Organization Account Opening
• Can They Really Garnish my Social Security Check – how to comply (and avoid) 31 CFR Part 212
• Bargains with the Devil – 3rd party vendor contract pitfalls
• Complying with the Servicemember’s Civil Relief Act
• DIY Guide for Bankruptcy Proofs of Claim – how, whey and when to file, especially for mortgage lenders
• The Ultimate Betrayal – Elder and Vulnerable Adult Financial Exploitation, How to spot it and what to do about it
• The Federal fair Debt Collections Practices Act for Credit Unions
• Grab the Money & Run – dealing with Powers of Attorney
• Who Gets Granny’s Money – how to deal with probate matters and deceased members and borrowers
• How to Deal with Nuisance Disputes – FACTA, FCRA and credit improvement abuses
• Indirect Auto Lending and the CFPB
• Loan Participation Issues for Credit Unions
• Military Lending Act Compliance for Credit Unions
• NLRB Approved Social media Polices – what can you forbid and what must you allow?
• OFAC Issues for Credit Unions
• Out-of-State Subpoenas and Garnishments – must we, can we, should we comply?
• Payday Lending and CU Alternatives
• Pre-Merger and Post-Merger Headaches and Heartburn
• The Redaction Trap – privacy, GLB and Rule 9037(a) compliance
• Telephone Collection Practices Act Compliance
• Electronic Lending, the Uniform Electronic Transactions Act and e-SIGN compliance
• The Utility of the Uniform Real Property Electronic Recording Act
• Totten Trusts
• The Law of Trusts Primer and Advanced Program
• Troubled Debt Restructuring
• How to Serve the Undocumented Member
• How to Serve the Underserved Member
• Navigating the Plastic Prohibition:  Offsetting Deposits against Credit Card Debt
• Mortgage Compliance – Paperless Mortgage Lending (session repeats)

Board Topics:

• Foolproof Board Governance
• Dealing with Elder Financial Abuse
• A new unit on proper succession planning for Board & Management
• 3rd party vendor contract negotiations
• Effective Communication with the Boomer Generation
• How to Deal with Powers of Attorney to minimize exposure to CUs, or any assigned topic.

2 Day Bankruptcy & Collections Seminar

Day One: Bankruptcy

Seminar topics include:

• Bankruptcy Ain’t a Beating
• An Overview of Chapter 7 & 13, including such topics as:
• Freezing Funds
• Attending Creditors Meeting – when & why
• Denial of Privileges Policies
• When to Close Existing Accounts
• How to Deal with Employees Who File Bankruptcy
• §722 Redemptions in Chapter 7 Bankruptcies
• The Interplay of Charge-Offs & Bankruptcies
• The Universal Bankruptcy Checklist for All Secured Lenders
• CFPB – Indirect Auto Lending
• The Redaction Trap
• The Mortgage Lender’s D-I-Y Guide to Bankruptcy Proofs of Claim

Day Two: Collections:

Seminar topics include:

• 10 Cardinal Rules for Proper Repossession
• Military Lending Act
• Complying with the Servicemembers Civil Relief Act (SMCRA)
• The Use of Auto-Dialers for Debt Collection
• Collection Considerations in Member Business Lending