APPEALS COURT OVERTURNS DISMISSAL OF DEBT BUYING CONTRACT DISPUTE
- The Court of Appeals for the Fourth Circuit has overturned a lower court’s dismissal of a lawsuit in which the seller of a portfolio of loans sued the buyer for allegedly violating the terms of their agreement when the buyer turned around and re-sold the loans to someone else, determining that a federally chartered credit union is a citizen of the state in which it has its principal place of business.
JUDGE DENIES MTD IN FDCPA CASE OVER CREDITOR NAME IN LETTER
- A District Court judge in Illinois has ruled that including references to the “original creditor,” a “sender,” and a “current owner of the unpaid account,” is not enough to identify the current creditor to whom a debt is owed and denied a defendant’s motion to dismiss, also ruling that the defendant failed to notify the plaintiff that she had only 30 days to request that information.
STATE AGs SUE FDIC OVER DEBT BUYING RULE
- Less than a month after suing one federal regulator, a group of state attorneys general filed suit yesterday against another one, seeking to block the implementation of a rule aimed at ensuring the terms of a loan remain valid after the loan has been sold to a non-bank entity, a key component when buying and selling debt portfolios.
CFPB EXTENDS COMMENT PERIOD ON CREDIT DISCRIMINATION RFI
- The Consumer Financial Protection Bureau has extended its comment period seeking input on how to build a “more inclusive financial system” for an additional 60 days.
WORTH NOTING: How families should manage child care during the coronavirus pandemic … You’d think a four-year-old would be worth more than $2,500 … Cheap tickets are leading movie theaters to sell out, according to the CEO of AMC … For the first time in history, there might be two hurricanes in the Gulf of Mexico heading toward Florida at the same time … Apps to help employees get over their fears of going back to the office … Artificial Intelligence easily beat an F-16 pilot in combat simulations … Password manager perks you might not be using … Will playing in the bubble lead to permanent changes in the NBA schedule?
High school teachers speak out
Funny Friday
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