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Missouri Supreme Court Holds Dealers-Only Auction Is a ‘Private Sale,’ Reverses Lower Court Ruling

The Supreme Court of Missouri recently reversed the judgment of a trial court in favor of two consumers on the finance company’s petition for a deficiency judgment in relation to a promissory note and security agreement financing the consumers’ vehicle.

3rd Cir. Holds Pennsylvania Consumer Discount Company Act Does Not Apply to Mere Debt Buyers

The U.S. Court of Appeals for the Third Circuit recently affirmed a trial court’s dismissal of a putative class action complaint alleging that the defendant debt buyer violated the federal Fair Debt Collection Practices Act (FDCPA) by trying to collect interest supposedly in excess of limits imposed under Pennsylvania law. 

Arizona Supreme Court Holds Notice of Trustee’s Sale Does Not Accelerate Debt, Foreclosure Not Time-Barred

The Supreme Court of Arizona recently held that recording a notice of trustee's sale, by itself, is not an affirmative act that accelerates the debt. Therefore, the Court held, the foreclosure at issue in the notice of trustee's sale in this case was not time-barred.

3rd Cir. Grants Motion to Compel Arbitration in Case Where Validity of Assignment of Contract is at Issue

The U.S. Court of Appeals for the Third Circuit recently confirmed that parties may contractually delegate questions of arbitrability to the arbitrator and reversed a District Court’s order denying a debt buyer's motion to compel arbitration when there was a question about the validity of assignment of the underlying contract.

2nd Cir. Rejects Standing, Conflict of Interest, Service Award, and Other Objections to Class Settlement Against Student Loan Servicer

The U.S. Court of Appeals for the Second Circuit recently affirmed a trial court’s certification and approval of a class settlement involving claims by student loan borrowers against their loan servicer.

3rd Cir. Excludes Home from Bankruptcy When Seller in Installment Sale Contract Obtained Possession Pre-Petition

The U.S. Court of Appeals for the Third Circuit recently held that, because the home seller in an installment sale contract received a judgment of possession before the buyer filed for bankruptcy, the home was not part of the buyer’s bankruptcy estate.

11th Cir. Holds 1-Year Period for Disputing Wire Transfers Cannot Be Modified by Contract  

The U.S. Court of Appeals for the Eleventh Circuit recently held that, consistent with rulings as to an identical New York law, the one-year period to make a demand for a refund of a fraudulent wire transfer under Florida Statutes § 670.202 may be not modified by contract.

Federal Court Holds a Constable Qualifies as a ‘Debt Collector’ Under FDCPA and a ‘Creditor’ Under Massachusetts Law

The U.S. District Court for the District of Massachusetts recently denied a motion to dismiss FDCPA and Mass. Gen. Law. Ch. 93 and 93A claims, holding that a constable qualifies as a “debt collector” under the Fair Debt Collection Practices Act and a “creditor” under Mass. Gen. Laws ch. 93.