Blockchain and Financial Services Blog

Showing 10 posts by Jared M. Tully.

West Virginia Supreme Court: WVCCPA does not apply to Landlord/Tenant Relationships

On October 12, 2017, The West Virginia Supreme Court issued a decision in State of West Virginia ex rel. v. Copper Beech Townhome Communities Twenty-Six, LLC, No. 17-0228, holding that the West Virginia Consumer Credit Protection Act (“WVCCPA”) does not apply to relationships between a landlord and tenant under a lease for residential real property. In reaching its decision, the Court noted that “in the forty-three years since the [WV]CCPA was enacted, this case is the first occasion in which any party has asserted before this Court that the Act applies to and regulates the landlord-tenant relationship.”  The Court reasoned: Read More ›

How to Address a Consumer Dispute in Compliance with Fair Credit Reporting Act

With the recent decision in Spokeo v. Robbins, bloggers and legal commentators have spent much time discussing FCRA. The Spokeo decision is one for all of us to watch closely, but a check of basic compliance issues is always in order. This article focuses on handling consumer disputes, following a surprising verdict. Read More ›

CFPB ARBITRATION RULE: What You Need to Know Now

On May 5, 2016, the CFPB unveiled a proposed arbitration rule which would dramatically limit the contractual rights of financial institutions. Under the rule certain arbitration provisions would be unenforceable as bars to class actions against financial institutions.   Read More ›

WEST VIRGINIA SUPREME COURT DISMISSES M.E.R.S. RECORDING FEE PUTATIVE CLASS ACTION

In State ex rel. U.S. Bank National Association v.  McGraw, Frost Brown Todd recently assisted in obtaining a dismissal, with prejudice, of a putative class action filed by Wyoming County, West Virginia claiming that the use of the private corporation, Mortgage Electronic Registration Systems, Inc., commonly known as “MERS”, as the designee for assignments of deeds of trust in West Virginia violates state law and unjustly enriched the trustees of various mortgage backed security trusts. Wyoming County asserted that the use of MERS (1) undermines the integrity of the counties’ real property records, to the detriment of an open and vibrant real estate market, (2) fails to provide transferees in the MERS registry with adequate perfection of the debts secured by the trust deeds, (3) deprives the counties of revenue, and (4) unjustly enriches the trustees through the nonpayment of recording fees. Read More ›

Witness Only Closings in West Virginia and Notary Fees: Is Your Bank at Risk for a Class Action Lawsuit?

In a class action lawsuit filed in West Virginia, the United States District Court for the Northern District of West Virginia recently held in Dijkstra v. Carenbauer et al (Civil Action No. 5:11-CV-152, Document Nos. 210 and 242) that the closing of real estate loans by non-lawyers constitutes the unauthorized practice of law. The Court held: Read More ›

Fourth Circuit Issues Significant Ruling on West Virginia Consumer Credit Protection Act Statute of Limitations Defense

The Fourth Circuit recently issues a decision in Delebreau v. Bayview Loan Servicing (Appeal No. 11-1139; May 31, 2012), which deals with the statute of limitations in cases brought under the West Virginia Consumer Credit Protection Act (“WVCCPA”). The decision is a significant ruling and provides a useful tool to defend WVCCPA cases. Read More ›

Southern District Of West Virginia Recognizes That Common Law Actions Based Upon Alleged Violations Of The West Virginia Consumer Credit Protection Act Cannot Proceed

Nearly every complaint alleging violations of the West Virginia Consumer Credit Protection Act includes common law causes of action, such as negligence. In a recent case, Daniels v. JP Morgan Chase & Co., Civil Action No. 2011-cv-00045 [Document 24], the Southern District dismissed these causes of action because they were not independent from the alleged violations of the WVCCPA and therefore could not proceed pursuant to the West Virginia Supreme Court of Appeals’ Decision in Casillas v. Tuscarora Land Co., 412 S.E.2d 792 (W. Va. 1991). Casillas stands for the proposition that common law causes of action based upon conduct that allegedly violates the WVCCPA may not proceed unless there are facts independent from the alleged WVCCPA violations that support the common law causes of action.   Read More ›

Northern District Of West Virginia Confirms Breach Of Covenant Of Good Faith And Dealing Is Not A Stand-Alone Cause Of Action In West Virginia

Unfortunately, lenders in West Virginia are routinely faced with lawsuits alleging that, in essence, they may not foreclose on a property before offering a loan modification. Borrowers’ counsel generally alleges breach of contract based upon an “implied contractual duty to act in good faith.” This allegation is routinely based upon an argument that lenders have discretion under their Deed of Trust to modify a loan and must exercise that discretion in good faith by offering modifications rather than foreclosing. Read More ›

Overdraft Fee Final Guidance From The FDIC

On November 24, 2010, the FDIC issued final guidance for banks regarding overdraft fees. The concern prompting the guidance was spurred by automated overdraft programs which many banks have in place. Read More ›

New Credit Card Rules In Effect August 22, 2010

New Federal Reserve rules go into effect this month that affect late fees and penalties that card holders may be charged. The rule, which amends Regulation Z (Truth in Lending), limits late fees and penalties that may be charged to credit card accounts. Read More ›

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Attorney Spotlight

William T. Repasky practices with the Litigation Department at Frost Brown Todd. He focuses on lending and commercial services; banking litigation and financial institutions.

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