Arbitration

Eleventh Circuit: Shrinkwrap arbitration provision enforceable even if consumer never saw itEleventh Circuit: No waiver of arbitration rights despite waiting for class certificationContinuing a trend, Mississippi Supreme Court refuses to enforce broadly worded arbitration clause

Bankruptcy

Eleventh Circuit: Mortgages not covered by bankruptcy dischargeSupreme Court Sides With Balch Lawyers and Finds for Midland Funding, Rejecting FDCPA Lawsuits Based on Bankruptcy Proofs of Claim for Out-of-Statute DebtsEleventh Circuit Declines to Expand Reach of “Least Sophisticated Consumer” Standard In the Context of Sending Periodic Mortgage Statements Following Bankruptcy Discharge

Borrower Liability

Bank Entitled to Pursue Claim for Longer Statute of Limitations on LoanUniform Voidable Transactions Act Comes to AlabamaAlabama Supreme Court: Lender can sue directors of a public improvement district for negligence, breach of fiduciary duty

CFPB

Credit Reporting and COVID-19: CFPB Provides Flexibility to Financial InstitutionsLenders Beware: Overdraft policies may spur CFPB litigation.What to do now about the new CFPB rule on arbitration?

Class Actions

Eleventh Circuit Affirms $380.5M Class Action Settlement in Equifax Data Breach LitigationThe Eleventh Circuit Continues to Build on Article III Standing RequirementEleventh Circuit Reverses Course on Ascertainability Standard in Class Actions; Turns Tide in Plaintiffs’ Favor

Consumer Protection

The Eleventh Circuit Continues to Build on Article III Standing RequirementA personal guarantor who does not have an interest in the property secured by the debt lacks standing to assert wrongful foreclosure.Eleventh Circuit: Motion to Reschedule a Foreclosure Sale Not Barred by Regulation X

Debt Collection

Bank Entitled to Pursue Claim for Longer Statute of Limitations on LoanEleventh Circuit Affirms FCRA Punitive Damage Award But Reduces Ratio to 4:1Eleventh Circuit affirms dismissal of attempted FCRA class action against furnisher of consumer information

Fair Lending

A personal guarantor who does not have an interest in the property secured by the debt lacks standing to assert wrongful foreclosure.Banks Beware: New Class Actions Alleging Banks Prioritized Large PPP Loans Over Smaller OnesEleventh Circuit allows Miami's predatory lending suit for lost tax revenues to proceed

FDIC

Managing Litigation Risks in Third Party Technology Service Arrangements

Lender Liability

RETREAT! “Agent Fee” Class Actions Moving Against PlaintiffsFlorida Judge Dismisses First-Filed PPP Agent Fee Class Action, Holds the CARES Act Contains No Requirement Agents be PaidLenders Gain Big Win Resisting MDL Consolidation in PPP Agent Fees Class Action Litigation

Mortgage Rules

Bank Entitled to Pursue Claim for Longer Statute of Limitations on LoanAlabama Court of Civil Appeals Doubles Down on “Strict Compliance” with Notice Provisions of Standard Mortgage’s Paragraph 22You’re on Notice: Alabama Court of Civil Appeals Bears Down on Foreclosure “Strict Compliance” in Barnes v. U.S. National Bank, No. 2180699.

UCC

Alabama Supreme Court Holds Check Encoding Warranty Shifts Liability for Encoding ErrorCourt Rejects "Transactional Analysis" as Requirement for Commercially Reasonable Security Procedure in Processing Wire Transfers11th Circuit Affirms that Host State Consumer Protection Statutes Are Preempted as to Out-of-State State Chartered Banks to Same Extent as National Banks.

Uncategorized

Lenders Gain Big Win Resisting MDL Consolidation in PPP Agent Fees Class Action LitigationA Properly Notarized Power of Attorney Provides Authority to Execute Mortgages“Cyber” Insurance Found to Cover Fraudulent Wire Transfer