Like it said it would do, the Consumer Financial Protection Bureau last week issued a final rule that would ban contractual arbitration clauses that prohibit class actions. The rule, if it becomes law, would affect most consumer financial contracts, including some in the real estate industry. Continue Reading CFPB Arbitration Rule Selectively Targets Real Estate Professionals

The Consumer Financial Protection Bureau not only brings enforcement actions against companies it believes broke the law. It also supervises and examines the business operations of entities that are not suspected of illegal activity. If your operation gets hit with a CFPB exam, there is one thing you must do to prepare: review the bureau’s Supervision and Examination Manual. Continue Reading Ace Your CFPB Examination With This Handy Study Guide

For over 40 years, putative class members have escaped some of the curbs against late-filed lawsuits that apply to normal cases. Last week, the United States Supreme Court brought back some of those curbs, threatening to reduce the number of spin-off cases that often result from class actions. Lawsuits under the Truth in Lending Act are directly affected. Continue Reading SCOTUS Resolves Dispute Over Class-Action Timing, TILA Cases Affected

A favorite strategy among class-action lawyers is to find a consumer-friendly jurisdiction and then file as many lawsuits there as possible. The new cases often involve consumers from around the country. In a recent decision, the United States Supreme Court all but ended that tactic. Continue Reading High Court Limits Nationwide Class Actions

In a putative class action, the court’s decision about whether to certify the class is always one of the case’s most important rulings—if not the most important ruling. The right to appeal that decision is limited. Some clever plaintiffs’ lawyers had found a way around that limitation, but the U.S. Supreme Court recently blocked their route. Continue Reading Supreme Court Outlaws Class-Action Trick

militaryplanningCompanies facing potential class-action liability often have limited means of defeating class certification. Last month, a federal appellate court approved a class defense that other jurisdictions typically reject. The ruling, if adopted by other courts, could protect many businesses from class threats. Continue Reading Federal Court Revives Nearly Forgotten Strategy for Defending Against Class Actions

boxingglovesLast year, the U.S. Supreme Court answered an important constitutional question: Can Congress authorize a lawsuit in which the plaintiff suffered no financial injury? The court’s disappointing answer (“it depends”) has perplexed courts across the nation. That confusion has spread to an area of vital interest to the real estate industry, the timely recording of satisfactions of mortgages. Continue Reading Federal Judges Spar Over Mortgage-Satisfaction Lawsuit