Alston & Bird Consumer Finance ABstract

Covid-19

CFPB Announces Two Updates Relating to COVID-19 Pandemic

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A&B ABstract: Last week, the Consumer Financial Protection Bureau issued two announcements of interest to servicers as they continue to respond to borrowers impacted by the COVID-19 pandemic. Consumer Complaint Report: On May 21, the CFPB issued a report analyzing approximately 4500 complaints relating to the COVID-19 pandemic.  Among other findings, the report indicates that […]

Proposed Federal Privacy Legislation Tackles COVID-19 Data

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Data collection and analysis is becoming a key weapon in the fight against COVID-19 both here in the United States and around the globe.  But as governments and tech companies roll out a variety of applications and contact tracing tools, legislators from both sides of the political aisle are questioning how to handle the data being collected, analyzed, […]

Attorneys General Urge FHFA and HUD to Take Additional Measures to Protect Borrowers Affected by COVID-19

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A&B Abstract: On April 23, 2020, the attorneys general of 33 states, the District of Columbia and Puerto Rico (the “Attorneys General”) sent two letters, one to the Federal Housing Finance Agency (“FHFA”) and the other to the U.S. Department of Housing and Urban Development (“HUD” and collectively with FHFA, the “Agencies”), respectively, noting that […]

Delaware Governor Issues Order Restricting Residential Foreclosures and Evictions

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A&B Abstract: On March 24, 2020, Delaware Governor, John Carney, issued a Sixth Modification (the “Order”) to the Declaration of a State of Emergency (the “State of Emergency”) initially issued on March 12, 2020. The Order addresses a number of issues that impact residential mortgage loan servicers, including restrictions on residential foreclosures and evictions and […]