The U.S. Court of Appeals for the First Circuit recently reversed the judgment of a trial court declaring a home equity line of credit invalid, but granting the holder of the HELOC an equitable lien on the HELOC’s secured property.
Posts published in “Banking”
The U.S. Court of Appeals for the Ninth Circuit recently held that the application of Nevada’s “superpriority lien” statute was not an uncompensated taking under the Takings Clause nor did it violate the Due Process Clause of the U.S. Constitution.
The Illinois Court of Appeals for the First District recently held a bank was not justified in relying on borrowers’ misrepresentations made during a loan modification process, where the borrowers’ prior conduct presented the bank with reason to follow up on the borrowers’ misrepresentations, and the misrepresentations would not have been hard to discover.
The Court of Appeals of California, First District, recently held that online digital currency exchange platforms have no obligation, in contract or in tort, to honor "forked" cryptocurrencies unless affirmatively provided for in a user agreement or otherwise.
The Northern District of Illinois recently denied a broker’s motion for a temporary restraining order and a preliminary injunction against the Financial Industry Regulatory Authority (FINRA) seeking to stop a scheduled remote arbitration hearing.
The Federal Deposit Insurance Corporation (FDIC) recently issued its Final Rule clarifying the “Permissible Interest on Transferred Loans.”
The Court of Appeals of California, Fourth District, recently held as a matter of law that banks owe no duty to depositors to monitor other depositors’ accounts for fraud.
The Office of the Comptroller of the Currency (OCC) recently issued its final rule clarifying the “Permissible Interest on Loans that are Sold, Assigned, or Otherwise Transferred”.
The U.S. Bankruptcy Appellate Panel for the Eighth Circuit recently affirmed a bankruptcy court’s holding that the contemporaneous exchange for new value defense to a preference action under § 547(c) applied to a creditor bank that released its liens for less than full payment.
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.
The U.S. Court of Appeals for the Ninth Circuit recently affirmed the dismissal of a consumer’s Truth in Lending Act (TILA) claim for lack of subject matter jurisdiction, holding that the claim was barred by the jurisdiction-stripping provision of the federal Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA).
In a case of first impression, the U.S. Court of Appeals for the Fifth Circuit recently held that the protections against default judgment under the Servicemembers Civil Relief Act (SCRA) do not apply to the seizure and sale of real property in in rem proceedings under Louisiana law where the debtors have agreed to a confession of judgment in the mortgage or security agreement.