Consumer Bankruptcy, Banking Sector

Bankruptcy Disclaimer Did Not Violate FDCPA

Smith Debnam Narron Drake Saintsing & Myers,... on 3/15/2019

A district court in Michigan recently dismissed an FDCPA action, holding that a letter which included a bankruptcy disclaimer was for informational purposes only and did not violate the FDCPA. Tyler v. Fabrizio & Brook,...more

Nutter Bank Report, March 2018

Nutter McClennen & Fish LLP on 4/2/2018

Headlines: ...Lawsuits Challenging Overdraft Fees Continue Against Depository Institutions ...Broad Regulatory Relief Bill Passes Senate and Is Sent to House for Consideration ..FFIEC Issues Revised Guidance...more

Second Circuit, on Truncated Record, Holds Dispute Implicating Core Bankruptcy Proceeding Non-Arbitrable

Ballard Spahr LLP on 3/27/2018

In a recent decision pitting the Bankruptcy Code against the Federal Arbitration Act (FAA), the U.S. Court of Appeals for the Second Circuit held that a creditor could not compel arbitration of a debtor's class action claims...more

CFPB Report Reveals Impact Removal Of Public Records Has On Credit Reporting: Did It Make A Difference?

Smith Debnam Narron Drake Saintsing & Myers,... on 3/5/2018

The CFPB recently issued its second Quarterly Consumer Credit Trends Report which examines the impact of changes to credit reporting regarding the reporting of civil public records. ...more

Education Dept. seeks comment on factors used to evaluate student loan discharge claims in bankruptcy cases

Ballard Spahr LLP on 2/22/2018

The Department of Education has published a request for information in yesterdays Federal Register seeking comment on the factors used to evaluate claims of undue hardship made by student loan borrowers attempting to...more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending October 6 & 13, 2017

Carlton Fields on 10/18/2017

REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE - Ad Valorem Taxes: land lease holders are considered equitable owners of land for tax purposes if land lease renews automatically and is perpetual; owners of condominium...more

House Financial Services Committee Schedules Oct. 11 Mark-Up of "Madden fix" Bill

Ballard Spahr LLP on 10/13/2017

Among the more than 20 bills that the House Financial Services Committee was scheduled to mark up Wednesday, October 11, was a bill to provide a "Madden fix" as well as several others relevant to consumer financial services...more

Sixth Circuit: Firm's Post-Foreclosure Conduct Does Not Violate FDCPA

Ballard Spahr LLP on 8/8/2017

Recently, the U.S. Court of Appeals for the Sixth Circuit affirmed the dismissal of a lawsuit brought against a foreclosure firm—Reimer, Arnovitz, Chernek & Jeffrey (the Reimer firm)—under the Fair Debt Collection Practices...more

Bankruptcy Court Imposes Massively Disproportionate $45 Million Punitive Exaction, Then Plays Santa Claus With $40 Million Of It

Mayer Brown on 4/19/2017

A bankruptcy judge in the Eastern District of California recently issued a decision that is sure to raise appellate eyebrows. Concluding in In re Sundquist that the defendant bank had violated the automatic stay by...more

CFPB Monthly Report Returns its Focus to Credit Reporting and Mortgage Complaints Fall Out of the Top Three

Smith Debnam Narron Drake Saintsing & Myers,... on 3/7/2017

The CFPB issued its monthly report on consumer complaints last week. The report is a high-level snapshot of trends in consumer complaints. The Reportprovides a summary of the volume of complaints by product category, by...more

Mortgage Servicer Defeats Class Certification Over Collection Practices Allegedly Targeting Discharged Mortgage Debts

Carlton Fields on 2/24/2017

The Middle District of Florida recently denied a plaintiff’s motion for class certification concerning claims that a collection agency illegally and intentionally sent collection correspondence to mortgagees whose debts...more

Seeking Punitive Damages Can Expand Scope of Discovery

Robins Kaplan LLP on 11/17/2016

As litigators are well aware, a lawsuit frequently begins and ends with discovery. Complaints must be carefully worded and allegations carefully chosen in order to maximize success in developing a record and in exploring...more

CFPB Mortgage Servicing Rule Amendments Published in Federal Register

Ballard Spahr LLP on 10/21/2016

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

Surrendering Your Property in Bankruptcy Means You Must Actually Surrender It

Carlton Fields on 10/10/2016

The title of this article seems self-evident. Lenders, servicers, and others active in the foreclosure arena these past few years know that it has been anything but. Borrowers surrender property in bankruptcy but,...more

Real Property & Title Insurance Update: Week Ending July 29, 2016

Carlton Fields on 8/3/2016

REAL PROPERTY UPDATE - Foreclosure/Automatic Stay: because final judgment entered day after defendant’s petition for bankruptcy, automatic stay imposed by 11 U.S.C. § 362 was in effect and, thus, judgment was void, even...more

ABA and CBA seek revisions to generic clearance process

Ballard Spahr LLP on 7/27/2016

The American Bankers Association and the Consumer Bankers Association (the Associations) have sent a letter to the Office of Information and Regulatory Affairs (OIRA) (part of the Office of Management and Budget (OMB)) urging...more

Bankruptcy Petition Costs Litigant Right to Appeal State Court

Burr & Forman on 6/7/2016

Learning the interplay between state rules of judicial procedure and federal bankruptcy law can be a daunting undertaking, but the pitfalls of failing to do so can be severe. A recent example of the importance of being...more

Real Property & Title Insurance Update: Weeks Ending May 13 & May 20, 2016

Carlton Fields on 5/26/2016

REAL PROPERTY UPDATE - Contracts/Personal Liability: official title of “President” underneath signor’s signature on contract did not shield individual from personal liability because contract language reflected...more

Lack of Reaffirmation Agreement Results in Finding That Bank Violated Discharge Injunction by Enforcing Post-Bankruptcy Loan...

Stinson LLP on 1/15/2016

In Venture Bank v. Lapides, 800 F.3d 442 (8th Cir. 2015), the Eighth Circuit found that a bank could not recover from its borrower and, in fact, had violated the post-discharge injunction by relying on change in terms...more

Consumer Bankruptcy › Banking Sector