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Category: Finance

Joining a Growing Trend, California District Court Refuses To Follow Glaski

On November 13, 2013 by Schnader in Finance

By Stephen J. Shapiro In Glaski v. Bank of America, a California Court of Appeal held that a borrower has standing to challenge the validity of an assignment of his mortgage to an MBS trust if he alleges that the assignment violated the terms of the instrument creating the trust. A […]

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Consumer Financial Protection Bureau Puts Creditors on Notice of Rulemaking Under the Fair Debt Collection Practices Act

On November 11, 2013 by Schnader in Finance

By Edward J. Sholinsky Last week, the Consumer Financial Protection Bureau issued a news release and Advance Notice of Proposed Rulemaking that signals the Bureau’s intention to broadly exercise its claimed power under the Fair Debt Collection Practices Act to regulate creditors and debt collectors.  Most notably, the Bureau is claiming […]

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Webinar: Effective Loan Documentation for Lenders: How to Deter and Prevent Litigation through Proven Loan Documentation Safeguards

On November 7, 2013 by Schnader in Finance

Schnader attorneys Melissa S. Blanton, vice chair of the firm’s Corporate and Finance Practice Group, and Stephen J. Shapiro, co-chair of the firm’s Financial Services Litigation Practice Group, will be presenting a financial services webinar on November 19 at Noon EST titled “Effective Loan Documentation for Lenders: How to Deter and Prevent Litigation through Proven […]

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Fourth Circuit holds that lenders can require borrowers to waive ECOA claims in connection with loan work-outs

On November 5, 2013 by Schnader in Finance

By Stephen J. Shapiro The Equal Credit Opportunity Act (ECOA) prohibits lenders, with certain exceptions, from requiring a borrower’s spouse to sign a loan.  In a recent decision, the Fourth Circuit held that, although a lender cannot require a borrower’s spouse to waive claims under ECOA as a precondition to extending […]

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