Beginning on December 1, 2017, creditors and their counsel will be operating under many new rules governing the practice of consumer bankruptcy law....Read More
Pattern of Inaccurate Filings in Bankruptcy Cases Results in $15 Million OCC Civil Penalty for Financial InstitutionAugust 29, 2017 | Jason K. Wright, Esq.
On April 25, 2017, in a proceeding before the Office of the Comptroller of the Currency (OCC), one of the largest financial institutions in the U.S. entered into a Consent Order for a Civil Money Penalty, which included a payment of $15 million to the Department of the Treasury, due to:...Read More
U.S. Supreme Court Rules on Santander; Definition of "Debt Collector" under FDCPA Still Unclear for Debt BuyersJune 15, 2017 | David Mullen, Esq.
On June 12, 2017, the Supreme Court of the United States (the Court) released a unanimous decision in Henson, et al v. Santander Consumer USA Inc. The case focused on the interpretation of a section of the Fair Debt Collection Practices Act (FDCPA) definition of "debt collector" and its application to debt buyers....Read More
U.S. Supreme Court Rules that Fair Debt Practices Act Does Not Apply to Time-Barred Proofs of Claims Filed in Bankruptcy Cases, Midland Funding LLC v. JohnsonMay 16, 2017 | Jason K. Wright, Esq.
On May 15, 2017, the Supreme Court of the United States (SCOTUS) issued a decision in Midland Funding, LLC v. Johnson, ruling that filing an obviously time-barred proof of claim in a Chapter 13 case does not violate the Fair Debt Collection Practices Act (FDCPA). In doing so, SCOTUS overturned an Eleventh Circuit decision which would have allowed debtors to file suit for damages ? and potentially for sanctions and attorneys' fees ? against creditors who filed time-barred proofs of claim. SCOTUS also resolved a conflict of authority within the circuits on this issue, as three other circuits (the Fourth, Seventh and Eighth) had ruled that the FDCPA does not apply to claims filed in a bankruptcy case....Read More
A lawsuit is filed, judgment is awarded and the defendant still fails to pay the creditor. This scenario is all too common; it can sometimes take years and require multiple strategies to collect a judgment. In Ohio, a judgment eventually becomes dormant, unless steps are taken to keep it active. Recent changes to Ohio law have updated creditors' rights regarding dormancy. In addition, when a judgment creditor seeks to attach a defendant's property, streamlined procedures are now available if a third party claims ownership of that property....Read More
Can a Mortgage Holder with a Defectively-Executed Mortgage Assignment Succeed in a Foreclosure Case?April 27, 2017 | Larry R. Rothenberg, Esq.
It is common for the plaintiff in a foreclosure case to have acquired the note and mortgage from the original lender. Typically, the original note holder transfers its rights in the note by indorsing the original note or signing an allonge and then delivering the original note to the new note holder....Read More
- Weltman, Weinberg & Reis Co., LPA Attorney Monette W. Cope Elected to Rainbows for All Children Governing Board of Directors
- Weltman, Weinberg & Reis Co., LPA Welcomes Attorney Nathalie Paul
- Weltman, Weinberg & Reis Co., LPA Junior Shareholder Casey B. Hicks Receives MReport's Women in Housing Award
- Weltman, Weinberg & Reis Co., LPA Shareholder Keri P. Ebeck Receives American Legal & Financial Network's "JPEG: Picture the Future" Award
- Weltman, Weinberg & Reis Co., LPA Welcomes Attorney Kevin J. Cummings
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