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Kansas Financial Institutions Information Security Act Approved by Governor

Kansas Gov. Laura Kelly has approved enactment of Senate Bill 44 which requires certain financial institutions to establish information security standards consistent with the federal Gramm-Leach-Bliley Act’s Safeguards Rule, 16 C.F.R. § 314.1, et seq.  The Kansas Financial Institutions Information Security Act becomes effective July 1, 2023.

Ohio Supreme Court Rejects Mortgagee’s Writ of Mandamus Challenges to County Tax Sales

The Supreme Court of Ohio recently upheld the dismissal of a mortgagee's writ of mandamus actions seeking to avoid transfers of REO and mortgaged property to county land banks for unpaid taxes, holding that the mortgagee should have pursued other available remedies in state court. 

1st Cir. Holds New York Choice of Law Clause Did Not Bar Massachusetts 93A Claim

The U.S. Court of Appeals for the First Circuit recently reversed the dismissal of a putative class action complaint for unfair and deceptive business practices under Massachusetts' Chapter 93A, holding that the action was not barred by a New York choice of law provision in the contract at issue.

Indiana Supreme Court Reverses Order Compelling Arbitration in ‘Overdraft Fee’ Class Action

The Supreme Court of Indiana recently reversed and remanded a trial court’s order compelling arbitration of two bank customers’ putative class action complaint. In so ruling, the Court held that the account agreement’s change-of-terms clause did not allow the defendant bank to add an addendum compelling arbitration and restricting class actions to the terms and conditions of the customers’ account agreement.

DC Cir. Offers Tips on Dealing With ‘Fail-Safe’ Classes

The U.S. Court of Appeals for the District of Columbia Circuit recently reversed and remanded a trial court’s order denying class certification, finding that the trial court improperly bypassed Fed. R. Civ. Pro. Rule 23’s prerequisites for class certification and based its denial of class certification entirely on the putative class’s “fail-safe” character.

3rd Cir. Holds TILA Does Not Require Breakdown of Annual Credit Card Fee

The U.S. Court of Appeals for the Third Circuit recently affirmed the dismissal of a consumer’s claims under the federal Truth in Lending Act, 15 U.S.C. § 1601 et seq., and its implementing regulation, Regulation Z, 12 C.F.R. § 1026. In so ruling, the Third Circuit held that TILA does not require disclosure of each individual component of the total annual fee in a renewal notice for a credit card.

NY High Court Rules Mortgagee Could Challenge Proper Notice of Tax Foreclosure

The New York Court of Appeals recently held that a plaintiff mortgagee was permitted to dispute and contradict whether a taxing authority complied with the statutory tax foreclosure mailing and notice requirements contained in N.Y. Real Property Tax Law (RPTL) 1125(1)(b), and thereby challenge the validity of a tax foreclosure.

Illinois App. Court (1st Dist) Rejects Mortgagors’ Claims of Forgery and IMFL Violations

The Appellate Court of Illinois, First District, recently affirmed a trial court’s summary judgment ruling in favor of a mortgagee, holding that the mortgagors did not raise a triable issue of fact regarding the authenticity of a mortgage and promissory note, and rejecting the mortgagors' arguments under the Illinois Mortgage Foreclosure Law that the foreclosure sale price was "unconscionable" and that "justice was not done" with the foreclosure sale.