David Meyer and Nancy Meyer v. U.S. Bank National Association

LOKEN, Circuit Judge.

In June 2003, David and Nancy Meyer signed a revolving credit note and revolving credit agreement and later signed a series of term notes and term loan agreements to obtain loans from U.S. Bank to finance their swine production business. In October 2006, the Meyers transferred all their business assets to a revocable trust, The David M. Meyer and Nancy R. Meyer Trust (the Trust), naming themselves as Grantors and Trustees. The revolving credit loan went into default on July 1, 2008. U.S. Bank agreed not to exercise its default rights. The lending relationship continued…