The U.S. Court of Appeals for the Fifth Circuit recently held that the U.S. Department of Housing and Urban Development is not a direct endorsement lender's “client” because HUD did not pay the lender for its services, and therefore HUD was not covered by the direct endorsement lender's professional liability insurance.
Nearly 30 years after authoring an opinion that has been rejected by the Second, Fourth and Ninth Circuits and ignored by the First, Fifth, Sixth and Seventh Circuits, the Third Circuit finally acknowledged that its original interpretation of 15 U.S.C. 1692g(a)(3) of the Fair Debt Collection Practices Act was wrong.
On April 1, the CFPB issued a policy statement addressing the responsibility of furnishers under the CARES Act and describing the flexible approach the Bureau intends to take with respect to supervision and enforcement of the FCRA and Regulation V during the COVID-19 pandemic.
On March 26, the Texas attorney general acted swiftly, filing a lawsuit against Auctions Unlimited LLC over an online auction that ended on March 24. The auction sparked an article published by the Chicago Tribune entitled “more than 750,000 masks auctioned for huge markup in Texas while hospitals run out nationwide.”
The U.S. Court of Appeals for the Fifth Circuit recently affirmed entry of summary judgment against a consumer debtor who claimed that a collection letter’s language, implying that interest or other charges (which the debt collector did not collect on debts referred to it by the creditor and were not referenced in the subject credit agreement) could accrue in the event of a default, violated the federal Fair Debt Collection Practices Act (FDCPA).
The U.S. Court of Appeals for the Fifth Circuit recently affirmed entry of summary judgment against a homeowner borrower’s wrongful foreclosure claims premised upon receipt of a defective pre-foreclosure notice that erroneously provided a 30-day deadline to cure from the date the notice of default letter was printed, rather than the day the letter was mailed as required under the terms of the deed of trust.
The Indiana Supreme Court recently held that there are important legal differences between closed-end installment contracts (such as ordinary mortgage loans) and open-end accounts (such as HELOCs) when considering statute of limitations, and there is no need to impose a rule of reasonableness when a lender sues for payment on a closed-end installment contract.
The Massachusetts attorney general has adopted a regulation deeming it illegal for a debt collector to telephone a Massachusetts resident to request payment of a debt or for a debt collector or a creditor to file a lawsuit to collect a debt.
A number of states have tolled the statutes of limitations on legal actions in response to COVID-19. The Iowa Supreme Court announced a toll on statutes of limitations in a March 17 order regarding court procedures. According to a March 23 operations summary from the…
The U.S. Court of Appeals for the Ninth Circuit recently held that the trial court had Article III jurisdiction and did not abuse its discretion in approving a settlement between a social media company and a nationwide class of its users who alleged that the social media company routinely scanned and collected their private information without their consent.
The U.S. Court of Appeals for the Sixth Circuit recently reversed the dismissal of a consumer’s Fair Debt Collection Practices Act (FDCPA) claim based on debt collection information that was visible through a transparent window on two debt collection letters.
The Maryland Court of Appeals recently held that victims on whose behalf money is collected or property is recovered by the Maryland Consumer Protection Division of the Attorney General's Office (CPD) or federal Consumer Financial Protection Bureau have no authority, through a private settlement, whether or not approved by a court, to preclude the CPD or CFPB from pursuing their own remedies.