Searching Content indexed under Financial Services 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
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
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
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
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
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
A Race To Disclose Secret Offshore Accounts: New Justice Department Program Pits Swiss Banks Against Their U.S. Accountholders
The Department of Justice has announced another program designed to identify United States taxpayers who have unreported foreign bank accounts.
United States
19 Dec 2013
Selected "CLO 2.0" Features
As the market for new-issue collateralized loan obligation ("CLO") transactions continues its resurgence, deal documentation in CLO 2.0 transactions continues to evolve.
United States
6 Dec 2013
Warehouse Financing—Ramp-Up Funding For CLOs
Historically, the manager of a collateralized loan obligation transaction often arranged a credit facility with a bank in order to provide short-term financing for the acquisition of corporate loans before the launch of the CLO.
United States
28 Nov 2013
Manager’s Discretionary Roles Under The CLO Indenture
While the primary duties of a manager in a collateralized loan obligation transaction are enshrined in the collateral manager agreement, the indenture also has numerous provisions that require the manager's direction or discretion.
United States
27 Nov 2013
California Courts Of Appeal Follow Wigod In Rejecting Challenges To HAMP-Based Contract And Fraud Causes Of Action At The Pleading Stage Of Litigation
In Bushell v. JPMorgan Chase Bank, N.A., the California Court of Appeal for the Third District (Plac reversed a trial court’s order sustaining the demurrer of defendant JPMorgan Chase Bank, N.A. ("Chase"), without leave to amend, and ordered the case remanded with instructions to overrule the demurrer.
United States
14 Nov 2013
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