On March 22, a bill to amend the Fair Debt Collection Practices Act was introduced in the Senate to expand consumer protections provided to debtors and small businesses during a major disaster or emergency—such as the current coronavirus (“COVID-19”) pandemic—beginning “1 day after the date on which a major disaster is declared by the President”
On March 13, two days after the World Health Organization announced that the coronavirus (“COVID-19”) outbreak could be characterized as a pandemic, the White House declared the outbreak a national emergency.
In response, the Consumer Data Industry Association (“CDIA”) provided guidance for lenders and creditors who report information about consumers whose accounts are
The Supreme Court of Appeals of West Virginia issued an administrative order on Sunday, March 22 that covers public health and safety concerns related to the coronavirus (“COVID-19”). In it, the Court recognizes “the current COVID-19 crisis creates an unprecedented public health emergency that requires immediate action to encourage effective social distancing and reduce the
Freddie Mac announced on March 18 that it is taking action to protect those affected—either directly or indirectly—by the coronavirus (“COVID-19”) pandemic. Freddie Mac announced a nationwide suspension of all foreclosure sales and evictions of borrowers living in homes owned by the company.
It also announced additional mortgage relief options, including an expansion of its
In response to economic concerns due to widespread closures caused by the coronavirus (“COVID-19”), on Sunday, March 15, Los Angeles Mayor Eric Garcetti issued an executive order putting a moratorium on evictions. Following Mayor Garcetti’s lead, California Gov. Gavin Newsom signed a statewide executive order stopping evictions and foreclosures for people affected by the disease
The United States Department of Housing and Urban Development has issued a partial waiver of 24 CFR 203.604, the provision that requires mortgagees to establish face-to-face contact with borrowers during default and loss mitigation intervention. This suspension, which is stated to last for one year, was issued in response to public concerns over the spread
On March 18, the Court of Appeals of Maryland has stayed all residential foreclosures and evictions during the coronavirus (“COVID-19”) pandemic. The Court determined that the “[e]scalation of the emergency has required comprehensive measures to protect the health, safety, and well-being of Maryland residents and judiciary personnel.” The Court further ruled that all “[f]oreclosures of
2019 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation, Troutman Sanders is uniquely positioned to help its clients find successful resolutions and stay ahead of the compliance curve.
In this report, we share developments on consumer class actions, background screening, bankruptcy, consumer credit
This month, in Charvat v. LE Energy, LLC, No. 2:19-cv-1325, 2019 WL 3891830 (S.D. Ohio Aug. 19, 2019), an Ohio district court judge denied a defendant’s motion to dismiss a plaintiff’s allegation of violation of the Telephone Consumer Protection Act when an unidentified entity placed a telemarketing call to the plaintiff’s residential phone number,
On July 9, the Third Circuit Court of Appeals entered a non-precedential opinion upholding a district court’s ruling that a third-party collection agency could not invoke a creditor’s mandatory arbitration agreement against a plaintiff that brought claims against the collection agency for violation of the Fair Debt Collection Practices Act on the facts before the