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Revival of Time-Barred Zombie Mortgages May Come Back to Haunt Debt Collectors

Last month, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on the attempted enforcement of time-barred alleged debt collection rights as to second mortgage loans. It is a violation of the Fair Debt...more

No, We Are Still Not Done With Indemnification Claims Arising from 2000s Residential Mortgages

If you thought we were finally done with indemnification litigation focused on residential mortgages originated before the financial crisis of 2007-2008, think again. Over the past year, the Federal Deposit Insurance...more

Financial Institutions Voice Strong Opposition to CFPB’s Credit Card Late Fee Proposal

In February, the Consumer Financial Protection Bureau (CFPB) proposed amending the Federal Reserve Board’s Regulation Z with respect to the amount of fees that credit card issuers are permitted to charge their customers for...more

New York’s CRPTO Act – the Most Comprehensive Set of Regulations yet on Cryptocurrency

On May 5, 2023, New York Attorney General Letitia James announced the Crypto Regulation, Protection, Transparency, and Oversight (“CRPTO”) Act, which aims “to protect customers and investors in digital assets from fraudulent...more

Rulings on Standing and Statute of Limitations Deliver Huge Blow to RMBS Investors

Last week, the U.S. District Court for the Southern District of New York dealt a major blow to mortgage investors in two parallel actions pending for the past few years. The impact proved to be fatal to one of the actions,...more

Fannie Mae Agrees to Settle REO Discrimination Case

Fannie Mae has reached a historic $53 million settlement with the National Fair Housing Alliance (“NFHA”) and local fair housing organizations throughout the U.S. to resolve racial discrimination claims concerning Fannie...more

“Crypto-Mortgage”- Do the Benefits Outweigh the Risks?

Cryptocurrency continues to gain traction as a means of payment for goods and services. It recently made its debut appearance in the mortgage industry, as the concept of a “crypto-mortgage” came to life. A Miami-based...more

Recent Settlements and Penalties Show Perils of Data Breaches

Two major U.S. financial institutions, Morgan Stanley and Capital One, recently agreed to resolve separate class action lawsuits by paying, in the aggregate, hundreds of millions of dollars in compensation for massive data...more

ViacomCBS Seeks to Recover COVID-19-Related Losses from Insurer

Business interruption insurance claims keep coming, cutting across a broad array of industries. The entertainment and media sectors are certainly not immune from pandemic-related losses. Last month, ViacomCBS became the...more

Florida’s Uniform Commercial Real Estate Receivership Act - A New Statutory Framework for Receiverships

In March, the Florida Legislature passed CS/HB 873, approving the Uniform Commercial Real Estate Receivership Act (“UCRERA”).  First drafted in 2015 by the Uniform Law Commission, UCRERA has already been adopted by seven...more

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