In a recent decision, the United States Court of Appeals for the Fourth Circuit upheld a lender’s statutory and contractual right to recover attorneys’ fees equal to 15% of the outstanding balance of a loan from a defaulting...more
It goes without saying that the COVID-19 crisis is an unprecedented global economic event. In some sectors (e.g., travel and hospitality) business activity ground to a nearly complete halt virtually overnight....more
Getting charged extra for a late payment is standard protocol in lending practices. Judges, lawmakers and regulators have long agreed there’s an administrative hassle lenders should be compensated for when having to recover...more