While businesses and consumers were all agog to see the latest variation of the California Consumer Privacy Act passed earlier this year, Canada quietly introduced its latest permutation to the Personal Information Protection and Electronic Documents Act (PIPEDA), which imposes new mandatory breach notification obligations on companies engaged in the collection of Canadians’ personal information.
Bradley Partner Paul Compton Nominated to Serve as HUD General Counsel
Bradley’s Banking and Financial Services Practice Group is pleased to announce that President Donald Trump has nominated Paul Compton to serve as General Counsel of the U.S. Department of Housing and Urban Development (HUD). Paul leads the firm’s Affordable Housing and Community Development practice and serves as counsel for the Alabama Bankers Association, Inc., counsel
CFPB Proposed Rule Could Allow Agencies without Jurisdiction to Access CSI
The CFPB issued a proposed rule which significantly affects third-party access to information obtained by the Bureau. In addition to public requests under the Freedom of Information Act, the Privacy Act of 1974 and in legal proceedings, the proposal would also affect the treatment of confidential information obtained by the CFPB under federal consumer finance
Be Prepared: How to Avoid the Super-Priority Trap
Benjamin Franklin once said, “By failing to prepare, you prepare to fail.” Servicers can face significant obstacles in preservation of their rights vis a vis assessments by homeowners’ associations and condo associations (a “property association”). The most important action servicers can take in addressing this issue, not surprisingly, is foresight and preparation by putting procedures
Trending Now: Alternative Forms of Person-to-Person Payments
Are you more likely to leave your house without your mobile phone or without cash? Very few of us carry cash anymore, but according to the March 2016 Board of Governors of the Federal Reserve System report entitled Consumers and Mobile Financial Services 2016, 87 percent of the U.S. adult population has a mobile
Antideficiency Protection Applies to Both Short Sales and Foreclosure Sales
In January, the Supreme Court of California affirmed the Court of Appeal’s application of Code of Civil Procedure section 580b and held that the statute’s antideficiency protection applies to short sales just as it does to foreclosure sales.
In Coker v. JPMorgan Chase Bank, N.A., the lienholder had begun the foreclosure process when the borrower
CFPB Moves TRID Effective Date to October 3
In previous blog postings, we discussed an informal announcement from the Consumer Financial Protection Bureau (CFPB) of its intent to delay the effective date of the new integrated mortgage disclosure rule under Truth In Lending Act and the Real Estate Settlement Procedures Act (commonly referred to as the TILA-RESPA Integrated Disclosure rule or TRID
Oklahoma HB 1123 Shortens the Time to File Mortgage Releases
Last month, Oklahoma Governor Mary Fallin signed into law a variety of bills affecting mortgage loan servicers. One bill of note, Oklahoma HB 1123, decreases the time in which a mortgage release must be filed after a mortgage has been satisfied from fifty (50) days to thirty (30) days. Moreover, if a mortgage holder