At issue in FirstMerit Bank, N.A. v. McEnery, 2022 IL App (3d) 210306 (Dec. 21, 2022) was who had the right to shares of stock: the citation petitioner-bank who had recorded a judgment against its borrower who once owned the shares or certain trusts who claimed they were bona fide…
Read More »In Cooper v. Retrieval-Masters Creditors Bureau, Inc., No. 18-2358 (7th Cir. July 29, 2022) the Seventh Circuit addressed attorney fee awards to prevailing plaintiffs under the FDCPA where the damage award was modest and the plaintiff had rejected what hindsight shows to have been a substantial early settlement offer. The…
Read More »The Eleventh Circuit in Daniels v. Select Portfolio Servicing, Inc., 34 F.4th 1260 (11th Cir. May 24, 2022) reversed a district court ruling in favor of a mortgage servicer that monthly mortgage statements sent in compliance with Truth In Lending Act (“TILA”) are not communications in connection with the collection…
Read More »On March 15, 2022, the Adjustable Interest Rate (LIBOR) Act (the “LIBOR Act”) was signed into law, as Division U of the enactment of the Consolidated Appropriations Act of 2022. As the London Interbank Offered Rate (“LIBOR”) index is set to end on June 30, 2023, the LIBOR Act provides…
Read More »To the several opinions issued in the last two years on the scope and impact on mortgage foreclosure proceedings of Illinois’ “single-refiling” rule, which allows a plaintiff to dismiss and refile a suit only once, needs to be added Bank of New York Mellon as Tr. for Certificate Holders of…
Read More »On June 17, 2021, the Illinois Supreme Court in Walker v. Chasteen, 2021 IL 126086 (June 17, 2021) struck down on constitutional grounds a section of Illinois’ foreclosure rules imposing a $50 filing fee for each residential mortgage foreclosure case filed, and up to an additional $500 fee for institutions…
Read More »In Alabama Ass’n of Realtors v. United States Dep’t of Health & Hum. Servs., No. 20-CV-3377 (D.D.C. May 5, 2021) the U.S. District Court for the District of Columbia struck down the Centers for Disease Control and Prevention’s (“CDC”) eviction moratorium concluding that the Secretary of the Department of Health…
Read More »The appeal in Hunstein v. Preferred Collection and Management Services, Inc., No. 19-14434 (11th Cir. Apr. 21, 2021) arose from the dismissal of a claim that a debt collector violated section 1692c(b) of the FDCPA which prohibits a debt collector from communicating consumers’ personal information to third parties “in connection…
Read More »In Facebook, Inc. v. Duguid, No. 19-511 (U.S. Apr. 1, 2021) the Supreme Court was asked to resolve a dispute over whether a device qualifies as an “automatic telephone dialing system”, or autodialer, under the Telephone Consumer Protection Act (“TCPA”) if it has the capacity “to store or produce telephone…
Read More »On March 23, 2021, Illinois’ new Predatory Loan Prevention Act (“PLPA”), Senate Bill No. 1792, was signed into law, Public Act 101-0658, causing it to become effective immediately. The PLPA is a consumer protection law, and it will significantly impact lenders making certain consumer loans in Illinois. This note covers…
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