On January 10, 2025, the Maryland Office of Financial Regulation issued emergency regulations revised to clarify that “passive trusts” holding residential mortgage loans must obtain a Mortgage Lender License and if the trusts...more
On March 19, 2024, the Third Circuit handed down a decision that statutory trusts used as issuing entities for securitizations are considered “covered persons” for purposes of the Consumer Financial Protection Act ("CFPA"),...more
Earlier this week, Moody’s Investor Services downgraded the credit ratings of 10 regional banks and put 17 other banks under review or gave their rating a negative outlook. Notwithstanding the downgrades, most of the...more
On April 29, 2022, the U.S. Court of Appeals for the Third Circuit granted a petition for permission to appeal in Consumer Financial Protection Bureau v. The National Collegiate Master Student Loan Trusts filed by defendants...more
5/5/2022
/ Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Enforcement Actions ,
Enforcement Authority ,
Financial Services Industry ,
Interlocutory Appeals ,
Securitization Vehicles ,
Statute of Limitations ,
Statutory Interpretation ,
Statutory Violations ,
Student Loans ,
Unfair or Deceptive Trade Practices
On February 11, 2022, the U.S. District Court for the District of Delaware granted a motion for interlocutory appeal in Consumer Financial Protection Bureau v. The National Collegiate Master Student Loan Trusts filed by...more
2/16/2022
/ Appellate Review ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Person ,
Debt Collection ,
Enforcement Actions ,
Enforcement Authority ,
Financial Services Industry ,
Interlocutory Appeals ,
Statutory Interpretation ,
Statutory Violations ,
Student Loans ,
Unfair or Deceptive Trade Practices
On December 13, 2021, Judge Stephanos Bibas, visiting judge in the U.S. District Court for the District Delaware from the U.S. Court of Appeals for the Third Circuit, denied a motion to dismiss a lawsuit brought by the...more
12/16/2021
/ Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Person ,
Debt Collection ,
Financial Services Industry ,
Lenders ,
Motion to Dismiss ,
Securitization ,
Statutory Trusts ,
Statutory Violations ,
Student Loans ,
Third-Party Service Provider