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By Shannon Raye Martinez, Attorney in the Creditor’s Rights & Bankruptcy and Litigation Practice Groups On May 6, 2020, the Consumer Financial Protection Bureau (CFPB) published a policy statement answering three questions relating to the Paycheck Protection Program (PPP). The policy statement clarifies when a creditor is required to provide notice to the loan applicant …
By Litigation Practice Group As COVID-19 continues to impact Oregonians, the State continues to issue orders aimed at lessening its effects. On March 25, 2020, on the heels of Governor Brown’s moratorium on nonpayment-based residential evictions, Oregon’s Department of Consumer and Business Services (“DCBS”) issued an order (the “Order”) directing all insurers in the state to suspend all cancellations …
By Litigation Practice Group On March 20, 2020, the Oregon Department of Consumer and Business Services (“DCBS”) published Bulletin No. DFR 2020-07 (the “Bulletin”) to provide guidance to Oregon-regulated lenders and loan servicers in extending help to borrowers struggling through the COVID-19 pandemic. Recognizing the difficulty that many Oregon businesses and individuals will and may have in repaying …
Consumer Financial Protection Bureau’s Newly Proposed Regulations Would Pave the Way for More Consumer Class Action Lawsuits: Rule Would Mandate that all Mandatory Arbitration Provisions Carve Out the Consumer’s Right to Participate in a Class Action Lawsuit in Consumer Financial Contracts with Most Financial Institutions May 6, 2016 By: Creditor’s Rights & Bankruptcy Practice Group …