Showing 4 posts in Claims / Dispute Resolution.
With the recent decision in Spokeo v. Robbins, bloggers and legal commentators have spent much time discussing FCRA. The Spokeo decision is one for all of us to watch closely, but a check of basic compliance issues is always in order. This article focuses on handling consumer disputes, following a surprising verdict. Read More ›
Despite the presence of an arbitration provision in a loan agreement or other document, a lender may be required to file suit to bring certain claims against individuals or property. For instance, a lender may be forced to file suit either to foreclose on a mortgage, or to obtain a court order to recover, liquidate, and clear title to collateral. If the borrower asserts counterclaims against the lender in response to the suit, the lender may want to compel arbitration with respect to those counterclaims. However, because filing a complaint can constitute a waiver of a party’s right to compel arbitration, lenders must be extremely careful both in filing suit and in responding to counterclaims to prevent a waiver of their arbitration rights. A recent case from the Kentucky Court of Appeals, Kathleen Imhoff v. Lexington Public Library Board of Trustees, 2016 WL 192017, shows just how careful a litigant in Kentucky must be to avoid waiving his or her right to arbitration. Read More ›
TD Bank recently agreed to pay $850,000 as part of a multi-state settlement agreement with state attorneys from Connecticut, Florida, Maine, Maryland, North Carolina, New Jersey, New York, Pennsylvania, and Vermont. While the assurances in the settlement agreement only bind TD Bank, other companies with electronic records containing consumers’ personal information can benefit from this agreement by interpreting its requirements as minimum standards for their internal security policies and procedures. Read More ›
Many lenders may agree that one of the thornier consumer protection regulations is the Equal Credit Opportunity Act’s rule that limits the ability of a lender to require a spousal guarantee. Regulation B lays out the rule in 12 CFR §1002.7(d)(1), and makes some effort to clarify the rule in its Official Interpretations. In a nutshell, the rule bars a creditor from requiring the signature of a spouse or other person that is not a joint applicant, on any debt instrument if the applicant qualifies individually for the amount and terms of credit requested under the lender’s standards of creditworthiness.
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Christopher C. Tieke is an associate in Frost Brown Todd's Louisville office, focusing his practice on business litigation. He graduated from the University of Cincinnati College of Law, with magna cum laude honors; served as an Associate Member of the University of Cincinnati Law Review; and participated in the Entrepreneurship and Community Development Clinic.