On October 13, 2020, the Consumer Financial Protection Bureau, (CFPB), issued a Consent Order against an auto lender that will affect how repossessions and payment processing are handled in the future.
The United States Bankruptcy Court for the Southern District of Ohio adopted a Mortgage Modification Mediation Program (MMM Program), effective October 1, 2020. The goal of the program is to encourage debtors and creditors to reach a consensual resolution.
While a total of 36 states previously barred electricity disconnections during the pandemic, 14 states moratoriums have already expired and the rest are following not far behind. That means, for an estimated 24 million American households, the possibility of their power now being shut off looms.
The COVID-19 pandemic has been disastrous for the already-weakened retail industry. These rapid changes have dealt an unprecedented blow to the commercial real estate industry. However, not all real estate sectors are performing in the same manner.