In In re: Terrell, No. 19-07629 (April 8, 2020), the Bankruptcy Court for the Northern District of Illinois found that a condominium association violated the discharge injunction by pursuing post-discharge eviction proceedings based on pre-petition assessments. It ordered the association to pay the debtor’s attorney’s fees and costs as a…
Read More »In response to a foreclosure, the mortgagors in Federal Nat’l Mortgage Ass’n v. Obradovich, No. 14-CV-04664 (N.D. Ill. May 28, 2020) countersued their lender, the mortgage loan servicer and the contractor their lender retained to manage the winterization of the property claiming a sub-contractor botched the job and caused extensive…
Read More »On May 13, 2020, the Consumer Financial Protection Bureau (“CFPB”) issued two FAQs providing guidance to depository and non-depository financial institutions (“institution”) on the ability to take expedited action to assist customers who experience hardship due to the COVID-19 emergency. The guidance is provided in connection with deposit accounts (checking,…
Read More »The tenants in Mayle v. Urban Realty Works, LLC, 2020 IL App (1st) 191018 (March 26, 2020) appealed from a judgment dismissing their complaint against multiple defendants for alleged violations of Chicago’s Residential Landlord and Tenant Ordinance (“RLTO”) and for conversion of their personal property during an eviction. The Illinois…
Read More »On March 22, 2020, the FDIC, FRB, OCC, NCUA, CFPB and the state banking regulators (“Regulators”) issued an Interagency Statement on Loan Modifications and Reporting by Financial Institutions Working with Customers Affected by the Coronavirus (the “Statement”). The Statement encourages financial institutions to work constructively with borrowers impacted by the…
Read More »The Illinois Supreme Court in Joiner v. SVM Mgmt., LLC, 2020 IL 124671 (Feb. 21, 2020) affirmed that a plaintiff’s class action claims are moot where the requested damages and fees are tendered to the name plaintiff before a motion for class certification is filed. In effect, it allows a…
Read More »The insured in Evergreen Real Estate Servs., LLC v. Hanover Ins. Co., 2019 IL App (1st) 181867 (Jan. 4, 2020) sought a declaration that its insurer had a duty to defend it in a class action brought by the insured’s tenants alleging that the insured committed several violations of the…
Read More »On December 3, 2019, the FRB, CFPB, FDIC, NCUA and OCC (the “regulators”) issued a joint statement concerning the use of alternative data in credit underwriting (the “Statement”). The statement is directed to both depository and non-depository financial institutions (collectively “institutions”). The alternative data covered by the Statement is the…
Read More »The US Supreme Court was asked in Rotkiske v. Klemm, No. 18-328 (U.S. Dec. 10, 2019) to weigh in on when the statute of limitations begins to run on an FDCPA claim. It held that absent the application of an equitable doctrine, the statute of limitations begins to run when…
Read More »At issue in CSI Worldwide, LLC v. TRUMPF Inc., No. 19-2189 (7th Cir. Dec. 11, 2019) was the scope of the judicial estoppel theory. A trade show exhibitor contracted with an exhibit installer to provide services for a trade show in Chicago. The installer subcontracted some of the work out.…
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