The eyes of the consumer finance world are now on the U.S. Supreme Court as it decides whether to grant the CFPB’s certiorari petition in Community Financial Services Association of America Ltd. v. CFPB (CFSA Decision). In the CFSA Decision,
Financial
CFPB settles lawsuit against My Loan Doctor and its founder for alleged deceptive marketing of deposit accounts
The CFPB announced last week that it has entered into a proposed settlement of the lawsuit it filed in July 2020 against My Loan Doctor, LLC (“Loan Doctor”) and its founder, Edgar Radjabli, for allegedly making false, misleading, and inaccurate…
CFPB rejects challenge to its authority to investigate crypto lender
The CFPB recently denied the petition of Nexo Financial LLC to modify the CFPB’s Civil Investigative Demand (CID) issued to Nexo, rejecting Nexo’s claim that the CFPB does not have jurisdiction to investigate crypto-lending products offered by Nexo such as…
PCAOB Proposes New Audit Firm Quality Control Standards
On November 18, 2022, the PCAOB issued a proposed auditing standard designed to modernize and improve audit firm quality control standards. The current standards were developed by the AICPA and were part of the interim standards adopted at the time the…
36 State Attorneys General settle with CarMax over non-disclosure of open safety recalls
On December 1, 2022, nationwide used car dealer CarMax Auto Superstores, Inc. (“CarMax”) and 36 state attorneys general announced a $1 million multistate settlement that will require CarMax to disclose open recalls related to the safety of its used vehicles…
Irish Court Lifts Corporate Veil to Hold Directors Liable
One of the fundamental principles of corporate law – in the U.S., as well as in other countries – is that a corporate entity has a legal existence separate and apart from its shareholders, officers, and directors, and that the…
HUD announces 2023 loan limits for FHA forward mortgages and HECMs
The U.S. Department of Housing and Urban Development (HUD) recently announced the 2023 loan limits for FHA insured forward mortgage loans and FHA insured Home Equity Conversion Mortgages (HECMs). The announcements were made in Mortgagee Letter 2022-20 and Mortgagee Letter…
Insurance and meaning of “sudden, unintended and unexpected happening”
In this recent High Court judgment, the insurance policy under consideration contained a pollution exclusion with the proviso that the exclusion did not apply where the pollution was caused by a “sudden, unintended and unexpected happening” during the period…
The DDS Backlog is (finally) national news
I recently wrote about the DDS backlogs in my geographical area of practice.
Today the Washington Post has elevated the issue to national news:
Social Security offices critical to disability benefits hit breaking point
12/07/2022 Update: Congress has taken notice
How to Lower Your Private Student Loan Balance with a Debt Relief Attorney
How to Lower Your Private Student Loan Balance with a Debt Relief Attorney Are you struggling to keep up with your private student loan payments? You are not alone and many borrowers are even turning to bankruptcy as a way…