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Statute of Limitations Appeals Financial Services Industry

Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period... more +
Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period usually commencing from the date of the wrong or injury or the discovery of the wrong or injury. Except for under a limited set of circumstances, if an individual does not file a suit within the specified time period, the law bars them from ever suing on that claim. less -
Troutman Pepper Locke

New York Court of Appeals to Review FAPA’s Constitutionality and Retroactive Application

Troutman Pepper Locke on

As a follow up to our May post, FAPA in the Spotlight Again: Second Circuit Renews Call for NY Court of Appeals Review, the New York Court of Appeals has finally agreed to consider New York’s Foreclosure Abuse Prevention...more

A&O Shearman

Second Circuit Affirms Dismissal Of Claims On Defaulted Argentina Bonds As Time-Barred

A&O Shearman on

On June 22, 2022, the United States Court of Appeals for the Second Circuit affirmed the dismissal of claims seeking recovery on defaulted bonds issued by the Republic of Argentina.  Bainbridge Fund Ltd. v. Republic of...more

Hinshaw & Culbertson - Consumer Financial...

Consumer Law Hinsights – May 2020

Consumer Law Hinsights is a monthly compilation of nationwide consumer protection cases of interest to financial services and accounts receivable management companies....more

WilmerHale

SEC Holds Kokesh Does Not Impact FINRA Industry Bar

WilmerHale on

On August 23, 2019, the Securities and Exchange Commission (SEC or Commission) held in In re John M.E. Saad that the US Supreme Court’s decision in Kokesh v. SEC had no impact on the Financial Industry Regulatory Authority’s...more

Ballard Spahr LLP

CFPB files amicus brief in support of plaintiff in Fourth Circuit FDCPA case

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The CFPB has filed an amicus brief in Bender v. Elmore & Throop, P.C., an appeal before the Fourth Circuit involving the application of the FDCPA’s one-year statute of limitations.  The brief supports the position of the...more

Bilzin Sumberg

New Second Circuit Statute of Limitations Ruling A Benefit to Loan Originators, Brokers

Bilzin Sumberg on

As originators and brokers of mortgage loans continue to get served with new lawsuits (or threatened with potential suits) related to loans that they conveyed to aggregators prior to the financial crisis of 2008, questions...more

Burr & Forman

Fifth Circuit Holds that Statute of Limitations Extended by Cross-Collateralization Clause

Burr & Forman on

Under the Mississippi law a deficiency suit must be brought “within one-year from the date of the foreclosure or sale” of the collateral. See Miss. Code Ann. § 15-1-23. The United States Court for the Fifth Circuit has...more

Burr & Forman

Grant v. Citizens Bank, N.A.: Florida Courts Agree that Statute of Limitations does not Bar Collection of Amounts More than Five...

Burr & Forman on

In an opinion issued recently, Florida’s Fifth District Court of Appeal joined other Florida appellate courts in holding that the five-year statute of limitations to bring an action to enforce a promissory note and/or...more

Ballard Spahr LLP

Collection Letter Making Settlement Offer for Time-Barred Debt Can Violate FDCPA Without Legal Action Threat, Third Circuit Rules

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A letter sent to collect a time-barred debt that makes a settlement offer can, even without a threat of legal action, violate the Fair Debt Collection Practices Act's (FDCPA) general prohibition against a debt collector's use...more

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