Although the COVID-19 Pandemic Persists, So Does the Constitution

Although the COVID-19 Pandemic Persists, So Does the ConstitutionLandlords in the state of Texas won a battle over their ability to conduct residential evictions when a federal court struck down the Centers for Disease Control’s (CDC) broad eviction moratorium last Thursday. On February 25, Judge John Barker of the Eastern District of Texas granted summary judgment in favor of a group of landlords in a challenge to the CDC’s eviction prohibition on constitutional grounds.

The plaintiffs in this case challenged the CDC’s Temporary Halt of Residential Evictions to Prevent the Further Spread of COVID-19, which was initially enacted … Continue Reading

Bradley’s Bankruptcy Basics: Chapter 7 Bankruptcy — Liquidation

Bradley’s Bankruptcy Basics: Chapter 7 Bankruptcy — LiquidationChapter 7 bankruptcy cases are straight liquidations sought by debtors who wish to have most or all of their debts discharged. In Chapter 7 cases, the Chapter 7 trustee obtains control over the debtor’s assets and evaluates whether any equity exists that would offset the costs of selling those assets. If the bankruptcy estate will likely profit from selling the debtor’s assets, the Chapter 7 trustee will liquidate the assets and distribute the proceeds to creditors. This is called an “asset case.”

Both individual consumers and businesses can file for … Continue Reading

Will Oregon Mandate Closing Services and Title Insurance for Cannabis Transactions?

Will Oregon Mandate Closing Services and Title Insurance for Cannabis Transactions?A proposal pending in the Oregon Legislative Assembly would limit title insurers’ potential grounds for refusing to insure certain real property transactions involving cannabis. Specifically, HB 2806, presented by Reps. David Brock Smith and Gary Leif, would prohibit title insurers and their affiliates from refusing to close or insure real estate transactions solely because the property at the center of the deal has been used for the purpose of growing, producing, manufacturing, or selling cannabis, or conducting other activities related to cannabis if the growth, production, manufacture, sale, or … Continue Reading

Florida Supreme Court Rules Borrowers Can Recover Reciprocal Attorneys’ Fees Under Section 57.105

Florida Supreme Court Rules Borrowers Can Recover Reciprocal Attorneys’ Fees Under Section 57.105The Florida Supreme Court rang in the New Year by casting a blow to lenders and loan servicers in Florida seeking to avoid the entry of attorneys’ fees judgments in borrowers’ favors where the borrowers successfully argued the plaintiff lacked standing to foreclose. On December 31, 2020, the court issued its opinion in Page v. Deutsche Bank Tr. Co. Americas. In its opinion, the court reversed the Fourth District Court of Appeal’s decision reversing an order and judgment entered by the Circuit Court for the 17th Judicial Circuit … Continue Reading

Bradley’s Bankruptcy Basics: The 6 Key “Players” in Bankruptcy Cases

Bradley’s Bankruptcy Basics: The 6 Key “Players” in Bankruptcy CasesBankruptcy cases differ from typical lawsuits in a variety of ways, including the parties involved. Whereas standard lawsuits generally involve a plaintiff and a defendant, bankruptcy cases have a different cast of “players,” including the debtor or debtor in possession, creditors, the bankruptcy trustee (i.e., Chapter 7 trustee, Chapter 13 trustee, etc.), committees, and the United States Trustee. Often, these players will retain attorneys to represent their interests in bankruptcy cases. Understanding the roles of each of these players will help you navigate the bankruptcy system.

Here’s an overview of … Continue Reading

Acting CFPB Director Uejio Reiterates Commitment to Issuing Regulations Enacting Dodd-Frank 1071

Acting CFPB Director Uejio Reiterates Commitment to Issuing Regulations Enacting Dodd-Frank 1071On February 4, 2021, acting CFPB Director Dave Uejio published a blog post sharing statements recently made to the staff of the CFPB’s Division of Research, Markets, and Regulations (RMR). In his post, Uejio stressed two policy priorities for the CFPB: “(1) relief for consumers facing hardship due to COVID-19 and the related economic crisis and (2) racial equity.” Although the acting director outlined several policies related to COVID-19 forbearances, as well as the QM and debt collection rules, a substantial portion of the comments related to the CFPB’s use … Continue Reading

Bradley’s Bankruptcy Basics: A Multimedia Series

Bradley’s Bankruptcy Basics: A Multimedia Series

Bankruptcy. The arrival of that notice stating a customer has filed for bankruptcy can evoke less-than-ideal responses: forwarding the notice to someone else who might know what to do with it (resulting in the notice ending up in a forever loop of being forwarded along); immediately writing off the account and cutting your losses; or, worst of all, ignoring the notice and proceeding as normal.

Such responses occur because most people haven’t been exposed to the nuances of bankruptcy law. This is a problem, as bankruptcy inevitably creeps into many Continue Reading

CFPB Releases Observations of COVID-19 Impacts to Small Business Lending through PPP Loans and Potential Fair Lending Risks

CFPB Releases Observations of COVID-19 Impacts to Small Business Lending through PPP Loans and Potential Fair Lending RisksAs we recently noted, the CFPB released the 23rd issue of its Supervisory Highlights report, focusing on COVID-19 prioritized assessments. In the report, the CFPB identified small business lending as an area that poses a risk of consumer harm. In particular, the CFPB focuses its discussion of small business lending on the Paycheck Protection Program (PPP).

The CARES Act amended Section 7(a) of the Small Business Act (SBA), creating a temporary small business lending program, the PPP. This program gives small businesses access to funds to cover necessary … Continue Reading

Acting Director David Uejio Issues Warning: CFPB Will Take Aggressive Action with Regard to COVID-19

Acting Director David Uejio Issues Warning: CFPB Will Take Aggressive Action with Regard to COVID-19 On January 28, 2021, Acting Director David Uejio of the Consumer Financial Protection Bureau (CFPB) confirmed the CFPB’s new, aggressive approach to enforcement of COVID-19-related matters. Uejio’s statement, posted as a blog, addresses several areas of concern discovered during last year’s Prioritized Assessments, including:

  • Mortgage servicers providing inaccurate information about CARES Act forbearances, failing to process forbearance requests, and collecting late fees from borrowers placed on a forbearance;
  • Auto loan servicers withdrawing money from accounts of consumers in deferment; and
  • Furnishers of consumer credit information failing to accurately report
Continue Reading

Focus on False Claims Act Suits Continues in 2020 Despite a Nationwide Pandemic

Focus on False Claims Act Suits Continues in 2020 Despite a Nationwide PandemicThe False Claims Act (FCA) continues to be a primary tool for both the Justice Department and whistleblowers’ counsel to bring suits against companies in the financial services sector, and the nationwide pandemic did not halt the investigation and litigation of these cases. Whistleblowers filed 672 new cases in 2020, comprising a significant percentage of the FCA cases filed. To keep you informed of the current enforcement trends and the status of the law, Bradley’s Government Enforcement and Investigations Practice Group is pleased to present the False Claims Act: 2020 Continue Reading

LexBlog