On April 20, the Indiana Supreme Court issued a published order protecting coronavirus stimulus checks from court orders placing a hold on, attaching, or garnishing funds attributable to a stimulus payment. The order is available here.
Six days earlier, four entities had petitioned the Indiana Supreme Court to act under its emergency rulemaking authority
Like most industries today, consumer finance services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Sanders and Pepper Hamilton have developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19-related news and developments, recommendations from leading health organizations, and tools
We are pleased to announce that Troutman Sanders attorney, David Anthony, will present during RMAi’s webinar, “Preparing for the Post-COVID-19 Regulatory Reckoning” on May 6, 2020 at 9:00 a.m. PT. This hard-hitting webinar will cover how organizations can implement safeguards and other processes in order to pass future regulatory audits.
For additional information and
The Consumer Financial Protection Bureau has released a video, available here, providing non-filers of federal tax returns with guidance to receive their economic impact payments, authorized by the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) in response to the coronavirus (“COVID-19”) health crisis.
The video notes that most people who qualify for
On April 21, Missouri became the first state to sue China in response to the coronavirus (“COVID-19”) pandemic. Led by Attorney General Eric Schmitt, Missouri joins the ranks of at least seven federal class action lawsuits that have been filed by groups of private plaintiffs claiming that China, despite knowing the danger of
Multiple states have come together to enact initiatives aimed at prohibiting private student loan servicers from certain activities that will remain in place during the coronavirus (“COVID-19”) pandemic. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) did not address private student loans that are not federally-backed. Recently, New York worked out an agreement
Pursuant to the Federal Credit Union Act, the National Credit Union Administration issued a temporary final rule on April 21, easing regulatory requirements to assist federal credit unions (“FCUs”) and federally insured credit unions (“FICUs”) during the coronavirus (“COVID-19”) pandemic. The rule makes the following key changes that will be effective through December 31, 2020:
In the recent case Stepp v. U.S. Bank Trust, N.A., the United States Court of Appeals for the Fourth Circuit narrowed the applicability of 24 C.F.R. § 203.604, a federal regulation that requires a face-to-face meeting prior to foreclosure for certain mortgage loans insured by the Fair Housing Act.
The contested regulation, issued
With the coronavirus (“COVID-19”) pandemic dominating the news these days, it is understandable that many missed that New York’s Stop Hacks and Improve Electronic Data Security (“SHIELD”) Act went into full effect on March 21. The SHIELD Act allows the New York Attorney General to prosecute businesses that fail to provide proper data breach notices
Since social distancing policies and stay-at-home orders have changed the way we do business, the National Automated Clearing House Association (“NACHA”) issued ACH Operations Bulletin #5-2020 that suspends the requirement for receiving depository financial institutions (“RDFI”) to accept written statements of unauthorized debits that are signed or