As the new year turns the page, the Supreme Court of Wisconsin, in Duncan v. Asset Recovery Specialists, Inc., held that a repo agency violated the Wisconsin Consumer Act by repossessing a vehicle parked in the borrower’s apartment building
The automatic stay is immediately effective when a debtor files a petition for bankruptcy relief. The scope of the automatic stay is broad. The stay applies to all creditors and prohibits both formal and informal actions against the debtor and
As 2021 came to an end, the Consumer Financial Protection Bureau (CFPB) released its 2021 Fall Supervisory Highlights, which cover the CFPB’s findings of examinations completed on the first half of the year. Though the CFPB’s Fair Lending Supervision Program
The COVID-19 pandemic has been a focal point for the Consumer Financial Protection Bureau (CFPB) – especially with regard to mortgage servicers and loss mitigation programs. In its Fall Supervisory Highlights, the CFPB noted the increase in borrowers needing
The automatic stay is a procedural tool in a bankruptcy case that effectively halts efforts by creditors to collect on a debtor’s outstanding obligations. As discussed in more detail in our prior post, immediately upon the filing of a
Federal Rule of Bankruptcy Rule 3002.1 went into effect December 1, 2011. It was implemented to address a perceived problem in “cure and maintain” Chapter 13 cases (cases in which the debtor cures any pre-petition arrearage and maintains monthly post-petition
The Fall Supervisory Highlights came out this month and reports the Bureau’s findings of examinations completed between January 2021 and June 2021. The CFPB publishes the Supervisory Highlights to help institutions better understand how the CFPB examines and monitors compliance
On December 16, the CFPB announced that it had issued orders to five companies providing “Buy Now Pay Later” (BNPL) products to “collect information on the risks and benefits of these fast-growing loans.” Earlier this year, the CFPB released a
In a December 13, 2021 letter to servicers, New York Attorney General Letitia James reminded servicers of their continuing obligations to assist New Yorkers amidst the pandemic and warned of enforcement actions against servicers that fail to do so. According
For the first time in more than 20 years, FEMA has announced plans to make changes to its Standard Flood Insurance Policy (SFIP). Under the proposal, FEMA would introduce a new Homeowner Flood Form, to be published at 44