A Wisconsin district court in Green v. Cenlar FSB, No. 19-cv-1555 (April 19, 2021) granted summary judgment to a loan servicing company for alleged violations of the Fair Credit Reporting Act (“FCRA”), on the grounds that the servicer conducted a reasonable investigation of a mortgagor’s credit disputes which challenged the…
Read More »On April 30, 2021, the First District Appellate Court struck down Chicago’s Protecting Tenants in Foreclosed Rental Properties Ordinance, better known as the Keep Chicago Renting Ordinance (“KCRO”) finding it is completely preempted by Illinois’ Rent Control Preemption Act (“RCPA”). The decision is Rivera v. Bank of New York, et…
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, the Illinois Community Reinvestment Act (“ILCRA”), Senate Bill No. 1608, was signed into law, Public Act 101-0657, and became effective. The ILCRA imposes continuing and affirmative community investment obligations on covered financial institutions, which include non-depository mortgage lenders. This note reviews and comments on key provisions…
Read More »In Skyworks, Ltd. v. Centers for Disease Control & Prevention, No. 5:20-CV-2407 (N.D. Ohio Mar. 10, 2021) and Tiger Lily LLC v. United States Dep’t of Housing & Urban Development, No. 2:20-CV-2692-MSN-ATC (W.D. Tenn. Mar. 15, 2021) district courts in Ohio and Tennessee struck down the Centers for Disease Control…
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…
Read More »The Eleventh Circuit affirmed a Florida district court’s rejection of a bankruptcy debtor’s attempt to use the “All Writs Act” to challenge the lender’s foreclosure on her property finding it was not the kind of case for which the All Writs Act was designed. In Rohe v. Wells Fargo Bank,…
Read More »On March 9, 2021, the CFPB issued an interpretative rule clarifying that with respect to any aspect of credit transaction, the Equal Credit Opportunity Act’s (“ECOA”), and its implementing Regulation B’s, prohibition against sex discrimination encompasses sexual orientation discrimination and gender identity discrimination, including discrimination based on actual or perceived…
Read More »In City of Chicago v. Fulton, No. 19-357 (U.S. Jan. 14, 2021) the Supreme Court of the United States reversed a series of lower court rulings finding that the City of Chicago did not violate the bankruptcy code’s automatic stay provision when it refused to return vehicles to Chapter 13…
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