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DC Circuit Renders Landmark Ruling Restricting CFPB’s Virtually Unfettered Power

In PHH v. CFPB (Oct. 11, 2016), the U.S. Court of Appeals for the D.C. Circuit held that the Consumer Financial Protection Bureau (“CFPB”) was unconstitutionally structured, and that the agency’s enforcement powers are...more

Contractors Beware – Maryland’s Economic Loss Doctrine is Alive and Well

Maryland recently reaffirmed application of the “economic loss doctrine” to damages sought in construction disputes in Balfour Beatty Infrastructure, Inc. v. Rummel Klepper & Kahl, LLP, No. 496, Sept. Term 2014, 2016 WL...more

Construction Law Advisory - December 2015

Use of Drones Increasing in Construction Industry - Affordable and easy-to-fly, small unmanned aircraft systems (sUAS), commonly referred to as “drones,” now are widely available for consumer purchase and use. Companies...more

Saul Ewing Top Ten Construction Clauses: Substantial Completion

Substantial completion is described in AIA Document A201™-2007 as “the stage in the progress of the Work when the Work or designated portion thereof is substantially complete in accordance with the Contract Documents so that...more

Top Ten Construction Clauses: Pay-if-Paid and Pay-when-Paid Clauses

Pay-if-paid clauses provide that a general contractor is not required to pay subcontractors unless and until it receives payment from the owner. The ConsensusDocs Standard Agreement 655 provides the following example: Receipt...more

Top Ten Construction Clauses: Change Orders and Change Directives

Construction contracts typically provide for changes in the scope of work through change orders, construction change directives and orders for minor changes. AIA Document A201-2007 and the ConsensusDocs Standard Agreement...more

Top Ten Construction Clauses - The Differing Site Conditions Clause

This clause is intended to address equitable adjustments to contract clauses when site conditions are different than anticipated under the contract terms. AIA Document A201-2007, General Conditions ¶3.7.4 provides that if the...more

TOP TEN Construction Clauses - The “Work” Clause

This clause defines the scope of work in a construction project and the definition varies by source. For instance, American Institute of Architects Document A201-2007 defines "Work" as "construction and services required by...more

CFPB Permits Refunds of Points and Fees Charged for Qualified Mortgages

On October 22, 2014, the CFPB announced that it would permit refunds of excessive fees (with interest) within 210 days after loan closing for qualified mortgages. The provision expires in January 2021 and requires lenders to...more

10/27/2014  /  CFPB , Fees , Mortgages , Qualified Mortgage Rule

FTC Found to Have Authority Over Standard for Consumer Data Security by NJ District Court

In a first of its kind opinion, a New Jersey district court holds that the FTC has the authority to set a standard for consumer data security and that it can sue for breach of that standard under its authority to bring...more

4/10/2014  /  Data Protection , FTC , Wyndham

Sanctions ordered against business for unintentional failure to protect evidence in anticipation of litigation

Following a broadening trend, the U.S. District Court for the Southern District of California recently held that a party is subject to sanctions – including an adverse inference instruction at trial – for negligently failing...more

CFPB Files Enforcement Action Against Debt Services Company

The CFPB recently filed an enforcement complaint and stipulated judgment against a Florida-based debt services company, which represents the first of its kind alleging that the company is liable under Dodd Frank and the...more

From the Front Lines: The Year of Compliance – A pervasive theme of the 2013 MBA Regulatory and Compliance Conference

Although this year’s conference displayed a willingness of regulators to cooperate with industry efforts to comply with new regulations, the CFPB nevertheless shows no hesitation in filing enforcement actions, using civil...more

6/7/2013  /  CFPB , Compliance , Dodd-Frank , Mortgages

Federal Sequester Likely to Affect Construction Industry

Continued budget cuts likely will trigger construction issues and disputes in the coming months and years. As a result, contractors should take precautions on federally funded construction projects. ...more

3/13/2013  /  Sequestration , Spending Cuts

CFPB issues final rules on incentives and mandatory arbitration

The CFPB issued final rules reducing the financial incentives for loan officers and brokers in "risky and high-cost" consumer loans and toughening qualification standards for loan originators....more

Consumer Financial Protection Bureau Issues New Mortgage Servicing Rules

The CFPB issued two mortgage servicing rules aimed at homeowners facing foreclosure and providing borrowers with tools and information for dealing with mortgage servicers....more

Is the Fed's Settlement with Mortgage Servicers Good for the Market?

On January 7, 2013, the Office of the Comptroller of the Currency (OCC) and the U.S. Federal Reserve Board announced an $8.5 Billion settlement with 10 of the nation's top residential loan servicers ending independent...more

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