Can the Foreclosure Abuse Prevention Act (FAPA) be applied retroactively? Unfortunately, mortgage noteholders lack a clear response.
Securities Industry Arbitrations and Litigation Update: FINRA Reaffirms Its Commitment to Enforcement Actions In Connection with the Protection Of Elderly Investor Customers
Mindful of the impending retirement of many millions of investors in the “baby boomer” generation, which hold a substantial amount of the world’s wealth, the Financial Industry Regulatory Authority (FINRA) continues to heavily monitor its member firms supervision of their registered financial advisors who service vulnerable and elderly investor customers. For example, last month FINRA
Securities Industry Arbitrations and Litigation Update: FINRA Member Firms Don’t Forget to “Dot Your I’s and Cross Your T’s” in Seeking to Confirm Promissory Note Arbitration Award
As any Wall Street litigator knows, in the securities industry, it is typical for brokerage firms to incentivize their employed financial advisers with significant upfront compensation at the beginning of a relationship or even at the beginning of each new financial year. These up-front payments are often structured as “forgivable loans” and memorialized in promissory
House Introduces Bill To Amend FDCPA To Set A Two-Year Limitation Before Collecting On Medical Debts
The U.S. House of Representatives has introduced a bill, H.R. 1773, that seeks to amend the Fair Debt Collection Practices Act (FDCPA). The proposed amendment would include a two-year bar on the collection of medical debts from the date first payment on the debt is due.
The bill was introduced by Michigan Representative Rashida
Court Rejects Debt Collector’s Statutory Interpretation of FDCPA Debt Validation Provision
According to the district court for the District of Massachusetts, debt collectors may be found in violation of § 1692g(a)(3) of the Fair Debt Collection Practices Act (FDCPA) when sending debt collection letters requiring the consumer to dispute the debt in writing.
As background, in Sherwyn Rocke v. Monarch Recovery Management, Inc. (Monarch), the
Lack of Notice of Bankruptcy Filing Proves Fatal to FDCPA Claim
Creditors and debt collectors may rest assured that they are not violating the Fair Debt Collection Practices Act (FDCPA) when sending debt-collection communications prior to any knowledge of a debtor’s bankruptcy filing. In Carrasquillo v. CICA Collection Agency, Inc., the district court for the District of Puerto Rico relied on a Third Circuit