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Sheppard Mullin Richter & Hampton LLP

Junk Fees Continue to be Focus of CFPB, Biden Administration

Sheppard Mullin Richter & Hampton LLP on

On March 8, the CFPB released a special edition of its Supervisory Highlights reporting on unlawful junk fees that were uncovered in a variety of servicing markets, including bank account deposits, auto loan servicing,...more

Troutman Pepper

Participation-Based 'Bank Sponsor' Lending Programs: Exploring the Advantages and Risks

Troutman Pepper on

A watershed moment is “the exact moment that changes the direction of an activity or situation . . . a dividing point, from which things will never be the same.” The Second Circuit Court of Appeals’ 2015 decision in Madden v....more

Ballard Spahr LLP

Connecticut Enacts New Licensing Requirement and Prohibitions for Student Loan Servicers

Ballard Spahr LLP on

Connecticut’s new “An Act Concerning A Student Loan Bill of Rights” creates a licensing requirement for servicers of student loans made to state residents and imposes other significant new requirements and prohibitions on...more

Bilzin Sumberg

Servicer’s Error Leads to $16 Million Award

Bilzin Sumberg on

Kate Berry reported in American Banker and SourceMedia’s National Mortgage News on how a $616 servicing error snowballed into a $16 million jury verdict. It was reported that a jury last month awarded $514,000 in compensatory...more

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