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Class Action › Borrowers › Mortgage Servicers

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Sheppard Mullin Richter & Hampton LLP

4th Circuit: Borrower Must Return Loan Proceeds After Rescission Despite Lender’s Failure to Meet TILA Requirements

Sheppard Mullin Richter & Hampton LLP on

Recently, the United States Court of Appeals for the 4th Circuit held that a mortgage servicer’s failure to provide a required disclosure informing borrowers of their three-day right to rescind the loan under the Truth in...more

Goodwin

House Votes to Repeal OCC True Lender Rule

Goodwin on

In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Goodwin

Financial Services Weekly Roundup: PPP Borrowers And Lenders Under The Microscope

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule that would establish a revised framework for the fair value determination for purposes of the Investment Company Act of 1940 and have...more

Orrick, Herrington & Sutcliffe LLP

Second Circuit Rules That Judges Can Decertify a Class After a Jury Verdict

Orrick, Herrington & Sutcliffe LLP on

The Second Circuit recently held that under Federal Rule of Civil Procedure 23, a district court judge can decertify a class after a jury verdict in favor of the class but before entering judgment, upholding a Southern...more

Robinson+Cole Class Actions Insider

Filed Rate Doctrine Addressed in Recent Second Circuit Decision

Robinson+Cole Class Actions Insider on

The filed rate doctrine can often provide a strong defense to an insurer in a class action claiming that insurance premiums were too high for some reason. A recent Second Circuit decision applied the doctrine broadly. This...more

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