A&B ABstract: In response to the economic fallout of the COVID-19 pandemic, state executives and legislatures have seriously restricted residential foreclosures and evictions. These restrictions have included requiring forbearance for private mortgage loans and placing moratoria on foreclosures. While these restrictions generally apply to residential mortgages lapsed in the wake of the global pandemic, they do […]
About Sam Bragg
CFPB Announces New Initiatives to Prevent Consumer Harm
A&B ABstract On March 6, 2020, the Consumer Financial Protection Bureau (CFPB) announced three new initiatives aimed at preventing consumer harm. The CFPB will be: (1) implementing an advisory opinion program; (2) amending and reissuing its responsible business conduct bulletin; and (3) engaging with Congress to advance proposed whistleblower legislation. Advisory Opinion Program According to the […]
Supreme Court Ruling Addresses FDCPA Statute of Limitations
A&B ABstract: On December 10, 2019, the U.S. Supreme Court held that, absent the application of an equitable doctrine, the one-year statute of limitations for actions against debt collectors under the Fair Debt Collection Practices Act (“FDCPA”) begins to run on the date on which an alleged FDCPA violation occurs, not the date on which […]
CFPB Updates Financial Institution Guidance on Elder Financial Exploitation
A&B ABstract: In July 2019, the Consumer Financial Protection Bureau (“CFPB”) issued an update to its 2016 Advisory and Recommendations for Financial Institutions on Preventing and Responding to Elder Financial Exploitation (“Update”). The Update focuses on recent developments in state laws related to elder financial exploitation (“EFE”) and makes a number of recommendations to financial […]
Slaying the Monster? Reduced Risk of False Claims Act Prosecution for FHA Lenders
A&B Abstract: In an effort to incent large depository institutions to return to FHA lending, the U.S. Department of Housing and Urban Development (“HUD”) and the U.S. Department of Justice (“DOJ”) entered into a Memorandum of Understanding (“MOU”), on October 28, 2019, that delineates HUD’s process for determining whether violations of FHA guidelines should be […]