Seventh Circuit Explains Attorney’s Fees Do Not Satisfy the Requisite Actual Damage Element for…

In Moore v. Wells Fargo Bank, N.A., No. 18-1564 (7th Cir. Nov. 7, 2018), the mortgagor defaulted on two separate loan modifications. Following the second default the mortgagee filed for judicial foreclosure. After foreclosure judgment was entered and shortly before the foreclosure sale of the property was about to occur,…

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The Fifth Circuit affirms Texas district court’s decision to award successful plaintiff in an…

In Davis v. Credit Bureau of the South, 908 F.3d 972 (5th Cir. Nov. 16, 2018) the debtor alleged that a debt collector violated the FDCPA by falsely representing that it was a credit bureau when it had lost its credit bureau designation some years earlier. The district court entered…

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Ninth Circuit Revives Borrower’s Action For Equitable Enforcement of Recession Under TILA By Applying…

In Hoang v. Bank of America, N.A., No. 17-35993 (9th Cir. Dec 6, 2018), in connection with the refinance of the borrower’s mortgage, the originating bank failed to give the borrower a notice of the right to recession as required under Section 1635 of the federal Truth in Lending Act…

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Pennsylvania District Court rejects law firms defense to class certification in FDCPA actio

In Gibbons, v. Weltman, Weinberg & Reis Co., LPA, No. 17-1851 (E.D. Penn Oct. 31, 2018) a Pennsylvania District Court granted a consumer’s class certification in an FDCPA suit against a law firm alleging that debt-collection letters printed on the firm’s letterhead falsely implied that they were being sent by…

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GAO’s Report to Congress on Fintech Recommends Agencies Provide Clarification on Lenders’ Use of…

On December 19, 2018, the United States Government Accountability Office (“GAO”) issued a report to Congress focused on three segments of fintech lending industry that cover personal loans, small business lending and student loans (“Report”). For these segments, the Report (i) identifies trends in fintech lending and business models used by…

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Illinois Supreme Court holds that a suit on the note is the same as…

The Illinois Supreme Court held in First Midwest Bank v. Cobo, 2018 IL 123038 (November 29, 2018) that a lawsuit for breach of a promissory note asserts the same cause of action as a prior foreclosure complaint when that foreclosure complaint specifically requested a deficiency judgment based on the same…

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Fifth Circuit applies Texas common law to hold that time to foreclose is stayed…

In HSBC Bank USA, N.A., as Trustee for Merrill Lynch Mortgage Loan v. Crum, No. 17-11206 (5th Cir. Oct. 17, 2018) the Fifth Circuit affirmed a district court’s entry of summary judgment in favor of a foreclosing mortgagee that the suit was timely brought, holding that the statute of limitations…

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Seventh Circuit holds that six month delay between property inspection and municipal ordinance citation…

Does a six month delay between a property inspection and notice of a municipal ordinance citation violate due process? In Nanette Tucker v. City of Chicago, et al., No. 17-2480 (7th Cir. Oct. 19, 2018) the United States Court of Appeals for the Seventh Circuit affirmed the district court’s ruling…

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Noonan & Lieberman Webinar: Update on ADA Website Accessibility and Litigation Trend Alert

Please join Noonan & Lieberman for a free webinar where attorneys Jim Noonan and Solomon Maman will have an in-depth discussion of current state of the Americans with Disabilities Act (“ADA”) applicability to financial institutions’ websites, recent trends in ADA website accessibility litigations, risk mitigation strategies and strategies for responding to…

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Seventh Circuit holds person who asserts he did not take out the debt is…

In Loja v. Main Street Acquisition Corp., 906 F.3d 680 (7th Cir. Oct. 18, 2018), someone took out a credit card in the plaintiffs name and did not pay it. A debt collector sought to collect the debt from the plaintiff leading the plaintiff to file suit under the FDCPA.…

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