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Anoush Garakani

About Anoush Garakani

Anoush Garakani is a partner on Alston & Bird’s Consumer Financial Services Team. He advises on mortgage banking and consumer finance and concentrates on counseling clients on compliance with federal and state consumer financial protection laws and regulations.

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Maryland Regulator Puts Lenders and Servicers on Notice Regarding the Assessment of So-Called “Convenience Fees”

June 8, 2022 By Anoush Garakani and Nanci Weissgold

A&B Abstract: On May 12, 2022, the Maryland Office of the Commissioner of Financial Regulation (the “OCFR”) issued an Industry Advisory (the “Advisory”) “put[ting] [the] industry on notice” of the recent decision issued by the 4th Circuit Court of Appeals in Ashly Alexander, et. al. v. Carrington Mortgage Services, LLC.  The Advisory directs lenders and […]

Filed Under: Debt Collection, Fair Debt Collection Practices Act (FDCPA), Mortgage Servicing, State Law Tagged With: #debtcollection, #FDCPA, Debt Collection, Mortgage Servicing, Regulation F, Servicing

Client Advisory: One Person’s Junk Fee Is Another’s Treasure

May 3, 2022 By Nanci Weissgold and Anoush Garakani

In a recent Financial Services & Products Advisory, Partners Nanci Weissgold and Anoush Garakani evaluate the CFPB’s recent “junk fees” initiative and its potential effect on mortgage servicing fee structures. The advisory can be accessed here.

Filed Under: Consumer Financial Protection Bureau (CFPB), Mortgage Servicing Tagged With: #CFPB, #mortgageservicing

Modern-Day Redlining Enforcement: A New Baseline

October 28, 2021 By Nanci Weissgold, Brian Johnson, Melissa Malpass and Anoush Garakani

On October 22, 2021, the U.S. Department of Justice (DOJ) announced an aggressive new initiative, in collaboration with U.S. Attorneys’ Offices throughout the country, to combat the practice of redlining. Three days prior, the Consumer Financial Protection Bureau (CFPB) was said to be hiring up to 30 new enforcement attorneys to focus on redlining and […]

Filed Under: Banking Regulatory Agencies, Consumer Financial Protection Bureau (CFPB), Equal Credit Opportunity Act (ECOA), Mortgage Loans Tagged With: #CFPB, #redlining, disparate treatment, DOJ, Fair Lending

Biden-Harris Administration Announces Extension of COVID-19 Foreclosure Moratorium

June 24, 2021 By Nanci Weissgold and Anoush Garakani

A&B Abstract: Today, the Biden Administration announced an extension of the foreclosure moratorium for federally-backed mortgage loans (the “Presidential Announcement”). To implement the Presidential Announcement, the federal agencies (i.e., HUD/FHA, USDA, and VA) and GSEs (i.e., Fannie Mae and Freddie Mac) have announced (or are anticipated to announce) extensions of the foreclosure moratorium until July […]

Filed Under: CARES Act, Consumer Loan, COVID-19, Department of Housing and Urban Development (HUD), Federal Housing Finance Agency (FHFA), Forbearance, HUD, Mortgage Loans, Mortgage Servicing Tagged With: #GSEs, Covid-19, Forbearance, Foreclosure, HUD, Mortgage Servicing, Servicing

The Hunstein Case: Upending Servicing and Debt Collection?

May 14, 2021 By Nanci Weissgold and Anoush Garakani

A&B Abstract: The U.S. Court of Appeals for the Eleventh Circuit, covering Alabama, Florida, and Georgia, recently decided in Hunstein v. Preferred Collection and Management, Inc., that a debt collector’s communication with its third-party vendor violated section 1692c(b) of the Fair Debt Collection Practices Act (“FDCPA”), which prohibits a debt collector for communicating, in connection […]

Filed Under: Circuit Court Decisions, Consumer Financial Protection Bureau (CFPB), Debt Collection, Dodd-Frank Act, Fair Debt Collection Practices Act (FDCPA), Federal Trade Commission (FTC), Mortgage Servicing Tagged With: #CFPB, #debtcollection, #FDCPA, Case law, Debt Collection, Eleventh Circuit, Mortgage Servicing

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Recent Posts

  • Did the CFPB Have Authority to Issue its RFI Regarding Employer-Driven Debt?
  • Second Juneteenth Holiday Raises Tricky Compliance Issues
  • Maryland Regulator Puts Lenders and Servicers on Notice Regarding the Assessment of So-Called “Convenience Fees”
  • CFPB Continues Scrutiny of Algorithmic Technology
  • Client Advisory: One Person’s Junk Fee Is Another’s Treasure
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