Searching Content indexed under Finance and Banking by Blank Rome LLP ordered by Published Date Descending.
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Competitive Hiring Tool—Paying Off Employees' Student Loans—Gains Traction
According to the Pew Research Center, as of June 2017, the total amount of U.S. student debt was $1.3 trillion ...
United States
21 Sep 2018
U.S. Third Circuit Court Of Appeals Broadens Standing Under The Telephone Consumer Protection Act
In Mark Leyse v. Bank of America, N.A., (3rd Cir. No. 14-4073), decided on October 14, 2015, the United States Court of Appeals for the Third Circuit vacated a ruling by the District Court of New Jersey...
United States
26 Oct 2015
Eleventh Circuit Court Of Appeals Clarifies The Meaning Of "Debt Collector" Under The FDCPA
In light of this decision, entities that engage in debt collection activities can be reassured that there are limits on the application of the FDCPA.
United States
1 Sep 2015
Underwater Cover: The Supreme Court's Protection Of Junior Mortgage Holders
The Eleventh Circuit's decision to uphold the Bankruptcy Court's decisions was obviously not a welcome decision to many junior residential lenders across the country and the cases were appealed to the Supreme Court.
United States
3 Aug 2015
Pennsylvania Federal Court Holds That Envelope With Visible Bar Code That Could Be Scanned To Reveal Consumer's Account Number May Violate The FDCPA
In light of this decision, debt collectors should avoid the use of account numbers and/or QR codes on envelopes or within the viewing area of clear plastic envelope windows.
United States
28 Jul 2015
Third Circuit Clarifies FDCPA Restrictions On Third-Party Communications
Under the FDCPA, a debt collector is liable to a consumer for contacting third parties in pursuit of that consumer's debt unless the communication falls under a statutory exception.
United States
17 Jul 2015
U.S. Supreme Court Holds Disparate Impact Claims Can Be Brought under Fair Housing Act
Lenders, servicers, and developers should continue to consider whether their policies and procedures result in unintended discrimination that may subject them to disparate impact claims under the Fair Housing Act
United States
2 Jul 2015
Preferred Equity Investments And Mortgage Lending: Issues For Lenders And Borrowers
Real estate owners and developers have been increasingly turning toward preferred equity structures and investments in order to raise much needed capital for the purchase, renovation, and development of real property where such capital is unavailable from traditional lending sources.
United States
22 Apr 2015
Borrowers Don’t Have Private Right Of Action Under HAMP But May Pursue New Jersey State Law Claims
It is well-established that the federal Home Affordable Modification Program ("HAMP") does not offer borrowers a private right of action to allege a lender or servicer violated HAMP.
United States
22 Apr 2015
New York Proposes Tough New Anti-Money Laundering And Cybersecurity Measures On Financial Services Companies
Benjamin Lawsky, the Superintendent of Financial Services for New York State, is seeking to increase regulatory pressures on the financial services industry, beyond the measures imposed by federal regulators.
United States
25 Mar 2015
Supreme Court Rules Written Notice Is Sufficient To Rescind Under TILA
Under TILA, borrowers have the right to rescind certain consumer mortgage transactions for up to three days after the loan closes.
United States
5 Feb 2015
Major Changes To Cuban Assets Control And Export Regulations Create New Opportunities For Trade
The U.S. Department of the Treasury’s Office of Foreign Assets Control and the U.S. Department of Commerce amended the Cuban Assets Control Regulations and the Export Administration Regulations related to Cuba.
United States
3 Feb 2015
New York Adopts More Stringent Debt Collection
In advance of the 2015 effective dates, debt collectors that operate in New York should review their current policies and take necessary steps to comply with new state regulations that provide consumer protections beyond the Fair Debt Collection Practices Act.
United States
26 Jan 2015
Mid-Construction Refinancing: Opportunity Or Plunge Into The Void?
Construction loans typically do not get refinanced before a project is completed.
United States
2 Jan 2015
New Jersey Bankruptcy Court Holds That Mortgage Was No Longer Enforceable And Borrower Was Entitled To A "Free House"
Action Item: In light of this decision, lenders should ensure that foreclosures in New Jersey are filed within six years of the date of default.
United States
2 Dec 2014
U.S. Regulatory Update – Final Rules: Credit Risk Retention For CLOs
The final risk retention rules will change the status quo for nearly all CLO managers beginning in the fourth quarter of 2016.
United States
6 Nov 2014
Third Circuit Holds That Envelope Revealing Consumer’s Account Number Violates The FDCPA
In light of this decision, entities collecting consumer debt should avoid the use of account numbers and/or QR codes on envelopes or within the viewing area of clear plastic envelope windows.
United States
21 Oct 2014
"Totality Of The Circumstances" Standard Used To Sanction Mortgagee For Lack Of "Good Faith" Negotiation In Foreclosure Matter
New York's Appellate Division ruled that a mortgagee's conduct in evaluating a borrower's loan modification application should be judged using the "totality of the circumstances" standard.
United States
29 Sep 2014
Mortgagees Face Increased Penalties For Failure To Remedy Municipal Violations On New Jersey Properties In Foreclosure
New Jersey Assembly Bill A347 amended a statutory provision that allows municipalities to impose penalties on creditors for failure to remedy municipal ordinance violations.
United States
2 Sep 2014
Third Circuit Holds Debtors Need Not Dispute Debt Before Filing Suit Under FDCPA
In McLaughlin v. Phelan Hallinan & Schmeig, LLP, the Third Circuit held that debtors are not required to notify a debt collector in writing regarding a disputed debt.
United States
29 Jul 2014
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