The emergence of tools like ChatGPT has demonstrated the tremendous business potential for artificial intelligence. At the same time, businesses need to be aware of the growing patchwork of laws and regulations in the U.S....more
Addressing an issue of first impression in Arizona, the Arizona Supreme Court recently held that the statute of limitations on a credit card debt subject to an optional acceleration clause commences "when the debtor first...more
8/8/2018
/ Acceleration ,
AZ Supreme Court ,
Breach of Contract ,
Consumer Contracts ,
Contract Terms ,
Debit and Credit Card Transactions ,
Debt Buyers ,
Financial Services Industry ,
First Impression ,
Statute of Limitations ,
Summary Judgment
The Arizona Legislature has significantly expanded and strengthened the state's data breach notification law. The legislation was signed by Arizona Governor Doug Ducey on April 11, 2018....more
4/18/2018
/ Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Hackers ,
New Legislation ,
Notice Requirements ,
Personally Identifiable Information ,
Popular ,
Risk Management ,
State and Local Government ,
State Data Breach Notification Statutes
Given the nearly daily reports of data breaches, ransomware attacks and phishing exploits affecting entities of all sizes, Arizona entities should be aware that Arizona law may require them to provide notice to employees,...more
3/22/2018
/ Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Hackers ,
New Legislation ,
Personally Identifiable Information ,
Popular ,
Risk Management ,
State and Local Government ,
State Data Breach Notification Statutes
The Arizona State Legislature is considering proposed legislation that, if enacted, would significantly change the requirements for how Arizona entities respond to data breaches....more
When Arizona voters passed Proposition 206, The Fair Wages and Healthy Families Act, on November 8, 2016, they not only approved an increase in Arizona's minimum wage, they also approved a requirement for employers to provide...more
A borrower recently filed a putative class action against Fannie Mae under the Fair Credit Reporting Act (FCRA) in federal court in Washington, D.C., alleging that Fannie engaged in unauthorized inquiries into borrowers'...more
The timing and mechanics of rescinding a loan under the Truth and Lending Act (TILA) has been a hotly contested legal issue. As highlighted during the recent oral argument in Jesinoski v. Countrywide Home Loans, Inc. before...more
The Virginia Supreme Court recently expanded the grounds under which a private borrower can sue a lender for violations of HUD regulations. In Squire v. Virginia Housing Development Authority, a decision issued on April 17,...more
The law is well settled that borrowers do not have a direct right of action under the Home Affordable Modification Program (HAMP) against a lender that fails to offer a loan modification. A split of authority continues,...more
A recent Arizona Court of Appeals decision could create new complexities for lenders exercising their power of sale under a deed of trust. In Grady v. Superior Court of Maricopa County, the Court of Appeals sided with the...more
In This Issue:
- MERS Has Power To Assign Interest in Deed of Trust, Borrower Can Challenge Assignment of Mortgage, First Circuit Rules
- Federal Judge Refuses To Dismiss Arizona Mortgage Class Action Alleging...more
2/21/2013
/ Class Action ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collectors ,
Deed of Trust ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Fair Lending ,
Fraud ,
Information Sharing ,
Interest Rates ,
Licenses ,
MERS ,
Mortgage Loan Originators