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Consumer Bankruptcy › Financial Institutions

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
Ward and Smith, P.A.

Can a Debtor Choose Salvation Over Creditors?

Ward and Smith, P.A. on

In a Chapter 13 bankruptcy, debtors propose a plan to re-pay all or a portion of their debts. The amount to be repaid depends on how much the debtors earn, the amount and types of debt owed, and how much property they own....more

Patrick Malone & Associates P.C. | DC Injury...

Is Sanders’ plan to erase $81 billion in U.S. medical debt really all that crazy?

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Critics have attacked Sen. Bernie Sanders for his proposal to wipe out $81 billion in medical debt, including by changing rules around debt collection and bankruptcy. He also called for “replacing the giant credit reporting...more

American Conference Institute (ACI)

[Event] Residential Mortgage Regulatory Enforcement & Litigation - October 29th-30th, Dallas, TX

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Attend the only forum designed to help you navigate the Residential Mortgage Industry’s evolving landscape. Now in its 26th installment, ACI’s Residential Mortgage forum has become a premier gathering of the key industry...more

Ward and Smith, P.A.

Can I Secure A Loan with Bitcoin? Part II

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In my previous article, I discussed the challenges of using Article 9 of the Uniform Commercial Code ("UCC") to create and perfect a security interest in virtual currency like Bitcoin, Ethereum, or Litecoin. (I use...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

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Home Mortgage Disclosure Act: FFIEC's Revised 'A Guide to HMDA Reporting: Getting It Right!' On March 14, 2018, the Office of the Comptroller of the Currency published an updated resource providing guidance for complying...more

Ward and Smith, P.A.

New Bankruptcy Rules that Creditors Need to Know and Follow

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On December 1, 2017, several changes to the Federal Rules of Bankruptcy Procedure took effect. The changes involve consumer cases under Chapter 13 and affect creditors with secured claims, unsecured claims, and judgment liens...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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There’s been a hitch in Saudi Aramco’s IPO plans (mind-boggling $2 trillion possible valuation and all): where to list. The frontrunners, by the way, are the London Stock Exchange and the NYSE....more

Goodwin

Federal Banking Regulators Assess $65 Million Penalty Against Default Management Company

Goodwin on

On January 24, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve, and the Office of the Comptroller of the Currency announced a $65 million fine assessed against a default management...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

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Financial Industry Developments - CTFC Approves Re-Proposal of Position Limits Regulation - On December 5, 2016, the U.S. Commodity Futures Trading Commission ("CFTC") unanimously approved to re-propose rules that...more

Ballard Spahr LLP

CFPB Mortgage Servicing Rule Amendments Published in Federal Register

Ballard Spahr LLP on

The CFPB Mortgage Servicing Rule Amendments were published in the Federal Register yesterday, starting the clock for the effective date of the amended provisions.  Most of the provisions are effective on October 19, 2017. ...more

Ballard Spahr LLP

Supreme Court to Resolve Circuit Split Over Filing Bankruptcy Proof of Claim on Time-Barred Debt

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The U.S. Supreme Court granted certiorari last week in Midland Funding, LLC v. Aleida Johnson, a decision of the 11th Circuit that held that Midland’s filing of a proof of claim in the plaintiff’s bankruptcy case on a...more

Ballard Spahr LLP

4th Circuit: Filing Proof of Claim on Time-Barred Debt Did Not Violate FDCPA

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A debt collector did not violate the Fair Debt Collection Practices Act (FDCPA) by filing proofs of claim in bankruptcy cases on debts that were time-barred by Maryland’s statute of limitations (SOL), a divided U.S. Court of...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

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Agencies Issue Proposal on Method to Adjust Threshold for Exempting Small Loans from Special Appraisal Requirements - On July 22, 2016, the Consumer Financial Protection Bureau, the Federal Reserve Board and the Office...more

Carlton Fields

Real Property & Title Insurance Update: Weeks Ending May 29 & June 3, 2016

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REAL PROPERTY UPDATE - Foreclosure/Bankruptcy Stay: because borrower’s notice of appeal was filed during pendency of bankruptcy stay it was a nullity, and appellate court lacked jurisdiction to consider appeal –Hewett v....more

Spilman Thomas & Battle, PLLC

Community Banking Excellence -Fourth Quarter 2015

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In This Issue: - Looking Back, Looking Forward: A 2015 Retrospective and 2016 Predictions: This past year has seen many changes in the community banking industry. Some of these issues we expected and some had more...more

Baker Donelson

New Case Poses Threat to Mortgage Servicers in Bankruptcies

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A new decision from the U.S. Court of Appeals for the Ninth Circuit poses a serious threat to mortgage companies that service mortgages of chapter 13 debtors. Mortgage servicers should be aware of the case's implications and...more

Troutman Pepper

Mortgage Acknowledgements: Can A Boo-Boo Be Fixed?

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Bank of America, N.A. v. Casey, 517 B.R. 1 (D. Mass. 2015) – A Chapter 7 trustee sought to avoid a mortgage using “strong-arm” powers based on a defect in the acknowledgement. The mortgagee contended that the defect was...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Week Ending October 23, 2015

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REAL PROPERTY UPDATE - Foreclosure/Documentary Stamp Tax: deferred interest on a “pick-a-payment” mortgage did not amount to future advance, which would have required payment of documentary stamp tax - Steinberg v. Wells...more

Troutman Pepper

Equitable Liens: No Mortgage Does Not Necessarily Mean No Lien

Troutman Pepper on

Marcum v. Marcum (In re Marcum), 508 B.R. 499 (Bankr. M.D. Fla. 2014) – A creditor made two prepetition loans to a chapter 13 debtor for payment of delinquent real estate taxes. The loans were supposed to be secured by...more

Ballard Spahr LLP

Flurry of FCRA Complaints Recently Filed in Nevada Courts

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Approximately 50 cases have been filed recently in Nevada state and federal courts against furnishers of information and credit reporting agencies (CRAs) for alleged Fair Credit Reporting Act (FCRA) violations. It appears...more

Baker Donelson

#Retweet the #CFPB: How Social Media is Affecting Consumer Advocacy

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Social media has become an integral part of our society, and now it's playing a big role in our industry, too. The Consumer Financial Protection Bureau (CFPB) is harnessing the power of Facebook and Twitter not only to create...more

Troutman Pepper

Settlement Proceeds: When Does Cash Become Quasi Real Estate?

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Farmer v. Citizens Nat’l Bank of Athens (In re Davis), 528 B.R. 757 (Bankr. E.D. Tenn. 2015) – A chapter 7 trustee sought a court determination that the trustee had a superior claim to settlement proceeds arising from...more

Burr & Forman

Another Bankruptcy Court Confirms Plan Reference to “Surrender” Means Not Defending a Lender’s Foreclosure

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Foreclosure defense and bankruptcy often go hand in hand, but sometimes it seems like the left hand doesn’t talk to the right. This has proven especially common with bankruptcy plans that propose to “surrender” real property...more

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