Mortgage servicers should take note of a recent decision issued by an Illinois District Court. In ruling on a motion to dismiss filed by a mortgage servicer, the Northern District of Illinois held that a transfer letter notifying a borrower that his […]
The United States Court of Appeals for the Fifth Circuit recently analyzed the Texas Debt Collection Act ("TDCA") and reached a conclusion relating to claims under the TDCA that is significant for lenders and mortgage servicers. The court ruled that […]
More than half of all banking customers conduct their banking on their smartphone because it is quick, easy and convenient. And it’s no wonder why this number is so great: smartphones are increasingly being integrated into the lives of many Americans […]
The Consumer Financial Protection Bureau ("CFPB") has a new complaints database. In accordance with its Financial Policy Statement issued on March 19, 2015, the CFPB has started publishing consumer complaint narratives. There are currently over 8 […]
On Tuesday, the U.S. Department of Labor released its proposed rule to change overtime regulations. The focus of the proposed change is to increase the minimum salary threshold under the "white collar" exemptions from $23,660 to $50,440 per year. […]
The Bankruptcy Code allows bankruptcy trustees, debtors in possession, and official committees to hire attorneys, accountants, and other professionals to assist them in carrying out their statutory duties, with their fees to be paid by the bankruptcy […]
At the end of January, federal regulators strongly encouraged small community banks across the country to take measures to bolster their cybersecurity, and specifically asked that community banks take care to monitor the activities of vendors that handle […]
It is completely understandable to feel a sense of anxiety when you hear the words “cybersecurity breach” and “bank” in the same sentence. What reasonable person wouldn’t be concerned? You put your hard earned money into […]
On June 19, 2015, in Texas v. Naylor, et al., Case No. 11-0114, the Texas Supreme Court ruled that the State of Texas could not intervene to prevent the divorce of a same-sex couple legally married in Massachusetts. However, the ruling was decided on […]
Numerous states have authorized the use of medicinal marijuana. Several others have even permitted limited recreational use. How does this movement coincide with an employer's "zero tolerance" policy of prohibiting drug use, whether during or after […]
A recent decision by the District Court for the Eastern District of North Carolina demonstrates just how important it is for parties asserting rights under the Perishable Agricultural Commodities Act (PACA) to provide proper notice. Failing to correctly […]
As previously noted in this blog, in PlainsCapital Bank v. Martin, No. 13-0337, 2015 WL 1477904 (Tex. March 27, 2015), the Texas Supreme Court ruled that lenders can use a sales price received subsequent to a foreclosure sale, as well as their carry […]