News & Analysis as of

Misrepresentation Borrowers

Cozen O'Connor

The State AG Report – 10.5.2023

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: • AGs Go After Timeshare Exit Companies over Allegedly...more

ArentFox Schiff

Non-Recourse Carve-Outs: Borrower and Guarantor Considerations

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The Federal Reserve's most recent Financial Stability Report addressed what many industry watchers had been convinced of for some time: the commercial real estate sector is in a precarious state. The Federal Reserve Bank...more

Goodwin

Biden Administration Issues Regulatory Freeze On New Agency Rules

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In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more

Williams Mullen

Williams Mullen's COVID-19 Comeback Plan: Preparing Today for Tomorrow's PPP Audit

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Part of the 2020 Business Solutions Series presented by by the Hampton Roads Alliance and Williams Mullen Charles E. “Chuck” James, Jr., co-chair of both the Firearms Industry Group and the White Collar & Investigations...more

Bowditch & Dewey

Lender Liability During COVID-19

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During an interview with Bloomberg TV on March 6th, Lawrence Summers, former Secretary of the U.S. Treasury, observed: “Economic time has stopped but financial time has not stopped.” An incisive summary as any of the current...more

Alston & Bird

Student Loan Servicers Remain Liable Under State Law for Affirmative Misrepresentations to Borrowers

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A&B Abstract:  The Seventh Circuit recently held that the federal Higher Education Act does not preempt state law consumer protection and tort claims where student loan servicers made affirmative misrepresentations to...more

Holland & Knight LLP

Recent Debarments Highlight Growing Risk of Sanctions By Multilateral Development Banks

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• Companies that operate globally face substantial risks associated with activities funded by multilateral development banks (MDBs). • Several recent debarment actions by the World Bank highlight those risks. • To...more

Cooley LLP

Alert: All Institutions Face New Risks Under ED’s Final Borrower Defense Rule

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In this, the first in a series of client alerts that will explain the workings of the new Borrower Defense to Repayment Rule (BDTR), we explore what promises to be a series of rules, procedures and interpretations to be...more

Ballard Spahr LLP

Dept. of Ed. Bans Pre-Dispute Arbitration Agreements by Title IV Schools

Ballard Spahr LLP on

The U.S. Department of Education has issued a final rule that broadly addresses the ability of a student to assert a school's misconduct as a defense to repayment of a federal student loan. The final rule includes a ban on...more

Snell & Wilmer

Avoiding Lender Liability for Credit-Related Actions in California

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Aside from general statutory prohibitions on lender discrimination, there are certain circumstances under California law in which lenders may be held liable for credit-related actions, such as negotiating or denying credit....more

Ervin Cohen & Jessup LLP

Careful Who You Trust. A Lender Can Be Liable For The Negligence And Misrepresentations Of Its Loan Servicers, Even Absent Any...

In the recent case of Daniels v. Select Portfolio Serving, Inc., the California Court of Appeal has held that a lender may be liable for the negligence and misrepresentations of the lender’s servicer, without any contractual...more

MoFo Reenforcement

CFPB Orders Auto Financer to Pay $48.3M for Misleading Borrowers

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On September 30, 2015, the CFPB ordered an indirect auto lending company and its auto lending subsidiary to pay $48.3 million in fines for alleged FDCPA, TILA, and UDAAP violations. The CFPB alleges that the companies...more

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