Does a furnisher always have to reach the “right” answer when it investigates a consumer’s credit reporting dispute? Or does the furnisher just have to engage in a “reasonable” investigation of the dispute before responding?...more
In Milgram v. Chase Bank USA, N.A., --- F.4th ---, 2023 WL 3874276 (11th Cir. June 8, 2023), the Eleventh Circuit affirmed the district court’s dismissal of plaintiff’s FCRA claim based on the bank’s alleged failure to...more
As we continue our weekly update on COVID-19 related litigation, we have decided that this 19th issue of Unprecedented is the most fitting time for a format change to make viewing our content easier. Now, all content is...more
Real Property Update - Foreclosure / Note: Trial court could not challenge authenticity of note as copy where borrower had not pleaded defenses and lender was not afforded advanced notice of dispositive issue to be tried -...more
The Second Circuit’s decision in Madden v. Midland Funding, LLC was announced in 2015. Since that time, there have been a number of cases brought based on the Second Circuit opinion, as well as recent regulatory proposals...more
Real Property Update - HOA / Contracts: Trial court erred by entering a post-judgment enforcement order requiring the association to assign its riparian rights to plaintiff pursuant to an enforceable settlement agreement,...more
There were significant developments in 2019 as courts continued to issue important decisions in this space and significant legislation impacting the residential mortgage-backed securities (“RMBS”) market came into effect. A...more
A United States Magistrate Judge for the United States District Court, Western District of New York, yesterday issued his report and recommendation on the defendants’ motion to dismiss in Petersen et al. v. Chase Card...more
U.S. Developments - Enforcement and Litigation Developments - Craig Wright Faces Sanctions - Craig Wright, the self-proclaimed inventor of Bitcoin, has been tied up in litigation since February 2018 related to his...more
August has been a slow month in the distribution world as this week’s Update reflects....more
The Consumer Financial Protection Bureau (CFPB) brought an enforcement action against JPMorgan Chase Bank, N.A. and Chase Bank USA, N.A. (collectively, the Bank), pursuant to 12 U.S.C. §§ 5563 and 5565 with regard to their...more
We have long been skeptical of most loan “repurchase” or “indemnification” demands made by big banks against the third-party originators (i.e., correspondent lenders) who sold those loans to the big banks many years ago....more
In This Issue: Bureau Report; Operations Report; Beltway Report; Arbitration Report; Mortgage Report; Privacy Report; Preemption Report; and Plastics Report. Excerpt from the Bureau Report: World’s Most...more