BN Lawyers
MARCH 21, 2019
On March 20, 2019, the United States Supreme Court issued its decision in Obduskey v. McCarthy & Holthus, LLP, holding that that business engaged solely in non-judicial foreclosure activities are generally exempt from the Fair Debt Collection Practices Act, 15 U.S.C. § 1692 et seq. Justice Breyer wrote for a unanimous court, with a concurring opinion by Justice Sotomayor.
Consumer Finance Watch
MARCH 21, 2019
By: Wayne Streibich , Diana M. Eng , Cheryl S. Chang , Jonathan M. Robbin, and Namrata Loomba. The United States Supreme Court holds businesses conducting nonjudicial foreclosures are not “debt collectors” under the FDCPA, but lenders and foreclosure firms should take note that the Court specifically chose to leave open the question of whether businesses that conduct judicial foreclosures are “debt collectors” under the statute. .
Consumer Financial Services Law
MARCH 21, 2019
By Caren Enloe and Anna Claire Turpin A recent case from a New York district court serves as a reminder that a single word in a debt collection letter may cause a wave of implications if enough further information is not supplied. In Leonard v. Capital Management Services, LP , 2019, No. 1:18-cv-90, 2019 U.S. Dist. LEXIS 18336 (W.D.N.Y. Feb. 4, 2019), a debt collection letter offering to settle the debt for less than the full balance included a statement that “[s]ettling a debt for less than the
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