The Washington Supreme Court has confirmed a personal guarantor’s liability to a lender following the lender’s nonjudicial foreclosure of its borrower’s real property collateral. In Washington Federal v. Harvey/Washington Federal v. Gentry, Nos. 90078-7, 90085-0, slip op. at 2-3 (Wash. Jan. 8, 2015), the Court held that “guarantors of commercial loans whose own property has… Continue Reading
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Welcome to Bank Law Monitor: A Legal Blog for the Financial Services Industry
Posted in Auto Finance, CFPB, Compliance Resources, Credit Cards, Debt Collection, Marijuana, Mortgage Servicing, Overdrafts, Regulation AB, Regulatory Developments, TILA/RESPA, Trending News, UDAAPWelcome! Graham & Dunn’s Financial Services team is pleased to announce the launch of Bank Law Monitor, a legal blog for the financial services industry. Bank Law Monitor will analyze regulatory developments, report on significant news and market trends, and monitor upcoming regulatory changes that impact the financial services industry. Our goal is to help… Continue Reading
CFPB Jurisdiction: Continued Expansion via Its Consumer Protection Mandate
Posted in Auto Finance, CFPB, Credit Cards, Debt Collection, Mortgage ServicingThe CFPB has exclusive supervisory authority over depository institutions that have assets totaling more than $10 billion dollars. For these depository institutions, the CFPB is the primary rule maker and enforcer of consumer protection laws applicable to these institutions. For depository institutions that have $10 billion or less in total assets, the Federal Reserve Board… Continue Reading