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Bankruptcy Court Declares Prohibition Against Debtors in Bankruptcy from Participating in Paycheck Protection Program...

In March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in effort to provide support and economic relief to organizations and individuals during the Coronavirus pandemic. Pursuant to the...more

Michigan Court Grants Injunctive Relief Against SBA Regarding Ineligibility Criteria for Loans to Small Businesses

In March 2020, the United States Congress passed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) to provide financial relief to individuals and organizations impacted by the Coronavirus pandemic. As a...more

Payday Lender Abandons Suit Challenging Eligibility for Paycheck Protection Program Loan

A payday lender recently filed suit against the Small Business Administration (“SBA”) in the United States District Court for the District of Columbia relating to its Paycheck Protection Program (“PPP”) loan application under...more

Mississippi Supreme Court Denies COVID-19 Relief Reasoning Lack of Constitutional Authority

On April 30, 2020, the Supreme Court of Mississippi entered two Orders denying relief for certain individuals that have been impacted by the ongoing Coronavirus pandemic (“COVID-19”) reasoning lack of constitutional...more

District Court Finds No Private Right of Action under CARES Act

The United States District Court for the District of Maryland recently held that the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), does not provide a private right of action for those aggrieved by an...more

Regulators Outline Exceptions for Evaluations and Appraisals During COVID-19

On April 14, 2020, the Consumer Financial Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Comptroller of the Currency (OCC), and Board of Governors of the Federal...more

Financial Services Committee Proposes Additional Relief Relating To Coronavirus Pandemic

On April 6, 2020, the Chairwoman of the House Financial Services Committee, Maxine Waters, issued a broad memo outlining additional Democratic priorities for any subsequent Coronavirus relief package....more

CFPB Announces Flexibility Regarding Credit Reporting Obligations During COVID-19 Pandemic

On April 1, 2020, the Consumer Financial Protection Bureau (CFPB) issued a Statement on Supervisory and Enforcement Practices Regarding the Fair Credit Reporting Act and Regulation V in Light of the CARES Act (Policy...more

Non-Federal Student Loans and the Coronavirus Pandemic

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or the “Act”) was passed in an effort to provide financial stability and relief in response to the ongoing Coronavirus pandemic....more

Fifth Circuit Holds That Class Arbitration is a Gateway Issue For Courts, Not Arbitrators

The United States Court of Appeals for the Fifth Circuit recently joined other federal appellate courts finding that class arbitration is a “gateway” issue for judicial determination, not the arbitrator.  See 20/20...more

Fifth Circuit Holds Procedural Unconscionability Determination Was From Judge, Not Arbitrator, Despite Delegation Clause

An employee sued her former employer alleging that she was unlawfully terminated under federal law. During the course of her employment, the employee acknowledged on multiple instances that “all employment disputes” with the...more

Fifth Circuit Holds that Statute of Limitations Extended by Cross-Collateralization Clause

Under the Mississippi law a deficiency suit must be brought “within one-year from the date of the foreclosure or sale” of the collateral. See Miss. Code Ann. § 15-1-23. The United States Court for the Fifth Circuit has...more

Fifth Circuit Confirms that RESPA Loss Mitigation Requirements Apply Only to Servicers

The Real Estate Settlement Procedures Act (“RESPA”) and Regulation X require that federally related mortgage loan “servicers” comply with certain loss mitigation procedures. See, e.g., 12 U.S.C. § 2605; 12 C.F.R. § 1024.41. ...more

Burr Alert: Fifth Circuit Rejects Consumer’s “Outrageous” FDCPA Attorney’s Fee Request

The Fair Debt Collection Practices Act (“FDCPA”) provides that a consumer is entitled to “reasonable attorney’s fees” as part of a “successful” claim. See 15 U.S.C. § 1692k(a)(3). While courts have found that this provision...more

Court Rejects Unconscionability Challenge to Arbitration Agreement That Was “Voluntary” and Not Obligatory

On September 4, 2018, the Mississippi Court of Appeals upheld an arbitration agreement between a nursing home and its resident. See Massey v. Oasis Health & Rehab of Yazoo City, LLC, No. 2017-CA-00086-COA, 2018 WL 4204207...more

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