Search Results for: mortgages

The US Supreme Court ruled 8-1 Tuesday that the one-year filing deadline for a Fair Debt Collection Practices Act (FDCPA) lawsuit is determined from when the alleged violation occurs, not when it is discovered. The petitioner in this case, Kevin Rotkiske, was originally sued by debt collectors who received a default judgment after Rotkiske failed [...]

The Court of Justice of the European Union, issued a preliminary ruling Thursday stating that Polish courts could strike out language in foreign-held mortgage contracts that unfairly used currency exchange rates to disadvantage borrowers, even if doing so would completely annul the mortgage contract. In 2008 two Polish borrowers, Kamil Dziubak and Justyna Dziubak, signed [...]

The Department of Housing and Urban Development (HUD) filed a complaint against Facebook Thursday for its targeted housing advertisement tools that allegedly discriminate against certain demographics. The complaint follows a 2018 statement of interest that similarly alleged that the data that Facebook collects from its users including race, religion, zip codes and language capabilities are [...]

The Consumer Financial Protection Bureau (CFPB) is considering rolling back payday and title loan regulations designed to protect consumers from dangerous debt traps. Considered part of America’s democratization of credit, payday and title loans are offered by a multi-billion-dollar industry that is growing at a rate that far exceeds the rest of the financial services [...]

The US Supreme Court granted certiorari Monday in Rotkiske v. Klemm, a case involving equitable tolling of the statute of limitations under the Fair Debt Collection Practices Act (FDCPA). Kevin Rotkiske incurred credit card debt to Capital One between 2003 and 2005 totaling $1500, which was turned over to Paul Klemm’s law firm for collection. Klemm’s [...]

The US Court of Appeals for the Ninth Circuit ruled Wednesday that the Federal National Mortgage Association (Fannie Mae) does not qualify as a “consumer reporting agency” as defined in the Fair Credit Reporting Act (FCRA), and therefore cannot be sued for misreporting that an Arizona couple had a prior foreclosure. Fannie Mae’s proprietary software, Desktop Underwriter (DU), [...]

The US Supreme Court agreed to add Kisor v. Wilkie to its docket on Monday. The court will limit its review to the first question presented by the petition for certiorari, which asks the court to reconsider precedent from Auer v. Robbins and Bowles v. Seminole Rock & Sand that directs courts to defer to [...]

The US government announced Tuesday that it reached a $480 million agreement with financial services group Nomura Holdings to resolve federal civil claims that Nomura misled investors in connection with the marketing, sale and issuance of residential mortgage-backed securities from 2006 to 2007 that contributed to the 2008 financial crisis. “This settlement holds Nomura accountable for [...]

The California Energy Commission adopted new standards Wednesday that will require all newly constructed residential buildings to be built with solar photovoltaic systems installed. The requirement for the solar photovoltaic systems is estimated to reduce greenhouse gas emissions equivalent to 115,000 fossil fuel cars. The changes would take effect January 1, 2020. In addition to [...]

Here's the domestic legal news we covered this week: The Democratic National Committee (DNC) filed a lawsuit Friday against Donald Trump, Russia, Julian Assange, Wikileaks, and several Trump aids including Donald Trump Jr., Jared Kushner, and...