Federal appeals court gives effect to mortgage servicer’s disclaimers in monthly statements and letters and holds that homeowner is charged with carefully reading them and a basic level of understanding in what they say ...
While the COVID-19 pandemic has led to the adoption of certain piecemeal consumer protection policies and/or guidances by individual states and the federal government, there have yet to be any sweeping changes to existing federal consumer debt collection laws or regulations in the wake of the pandemic. There has been a push, though, for the enactment of comprehensive consumer protection provisions ...
On April 17, a bill was introduced in the United States House of Representatives seeking to create the Rent and Mortgage Cancellation Act of 2020. The primary feature of the bill is it would suspend all rent and mortgage payments due during the COVID-19 pandemic, beginning on April 1, 2020 and ending 30 days after the termination of the pandemic by the Federal Emergency Management Agency. The tenants and mortgagees would have no responsibility to ever make those payments ...
Section 3513, one of the many provisions of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), addresses the handling of most federal student loans. The CARES Act suspends all loan payments through September 30, 2020, for certain types of student loans made or held by the United States Department of Education: Federal Direct Stafford Loans, Federal Direct Parent PLUS Loans, Federal Direct Grad PLUS Loans, and Federal Direct Consolidation Loans ...
Amidst the rising number of mortgage loan forbearances due to COVID-19, Ginnie Mae has stepped in to limit the damage to issuers with its PTAP/C19 program. The CARES Act provides borrowers with temporary protections in light of the economic distress caused by COVID-19. The CARES Act, signed into law on March 27, 2020, includes a series of protections for borrowers whose financial security has been affected by the COVID-19 pandemic ...
Another week brings another round of COVID-19-related lawsuits. Even after a month, we already can identify some early trends: refund lawsuits and second amendment claims continue to boom. A rise in takings claims may signal another trend, or a recent adverse decision from the Pennsylvania Supreme Court may throw cold water on business owners and citizens’ efforts to be compensated for government-directed impacts ...
We recently discussed how the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) allocates $100 billion to the Public Health and Social Service Emergency Fund, to be distributed as relief funds to hospitals and other healthcare providers on the front lines of the coronavirus response (“Provider Relief Fund”) ...
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), a historic $2 trillion relief package signed into law on March 27, 2020, seeks to address the economic impact of the COVID-19 pandemic on several industries ...
The Michigan Economic Development Corporation has announced the Tech Startup Stabilization Fund—a $3 million fund that will provide capital and support for Michigan tech startups impacted by the COVID-19 pandemic. ID Ventures is administering the fund and accepting applications from tech startups across the state at TSSFund.com ...
We hope this Alert finds you and your family healthy and safe during these unsettling times. COVID-19 has interrupted all of our normal routines but has provided many of our clients with a unique opportunity to take a pause and review existing estate planning documents to make sure they are still accurate. We have received numerous calls and emails from clients asking us to update their documents and the choices they made in previous years ...
As part of a package of economic measures worth EUR 5.1 billion, the Serbian Government adopted a decree on 16 April 2020 establishing a guarantee scheme for loans to be provided by local banks to businesses to reduce the effects of the COVID-19 pandemic (the “COVID-19 Guarantee Scheme”) ...
By means of Circular No ...
The Enduring Power of Attorney[1](“EPOA”), is an essential estate planning tool available in The Bahamas that is often overlooked. In the latest Legal Update, GT News & Insights Volume 2, Issue 2, GrahamThompson Partner Theo Burrows and Pupil Attorney Alexandria Newton, discuss the“Enduring Power of Attorney”in a piece that provides comprehensive responses to some of the most frequently asked questions ...
Modus Operandi for a Tenant who has Become a Hostage of Covid-19 Pandemic The pandemic of Covid-19 disease has turned everybody’s life upside down both professionally and personally ...
What is it? The Paycheck Protection Program (PPP) is a loan program geared toward small businesses dealing with the jarring disruptions caused by the novel coronavirus (COVID-19). It is a part of the larger $2 trillion CARES Act and run through the Small Business Administration. It provides $350 billion in loans to help businesses keep their workforce employed during COVID-19 crisis. Who can apply? The PPP provides loans to business with fewer than 500 employees ...
The Supreme Court this past week denied certiorari in United States ex rel. Schneider v. J.P. Morgan Chase Bank, N.A., an appeal from a D.C. Circuit case affirming the district court’s dismissal of a qui tam FCA action. See No. 19-678, 2020 U.S. LEXIS 2079 (Apr. 6, 2020). In so doing, the Court declined to address the emerging circuit split over the extent of the government’s dismissal power in qui tam cases ...
A new ordinance n°2020-427 of 15 April 2020 on various provisions regarding deadlines for dealing with the covid-19 epidemic (the “Deadlines Ordinance of 15 April 2020”), presented to the Council of Ministers on 15 April, was published in the Official Journal on 16 April 2020, as it was eagerly awaited by real estate and construction professionals, as well as by the renewable energy sector ...
The pandemic crisis unfolding in the United States and around the world has placed a significant strain on commercial lending relationships, and the pressure will only mount as the medical and financial ramifications unfold. For many companies, the immediate concern is of course liquidity. But in the face of falling revenue, shuttered businesses and extreme uncertainty, lenders and borrowers will need to make some tough choices when it comes to their ongoing lending relationships ...
As aresult of the parliament’s intervention, mutual obligations of parties to lease agreements in shopping centres are deemed to have “expired.” Does that mean that the lease agreements have expired? The parliament has introduced into the Polish legal system aspecial regulation directly intervening in lease relationships in commercial facilities with asales area of over 2,000 m2. It is included in Art ...
On April 14 and April 15, 2020, the Small Business Administration ("SBA") provided additional guidance on the Paycheck Protection Program (“PPP”) through the issuance of a new Interim Final Rule (the “New Rule”). This rule supplements the first PPP interim final rule published on April 2, 2020, as well as issuing updates to the Frequently Asked Questions document (“FAQs”) originally published on April 2, 2020 ...
The nearly global response to the spread of the deadly Coronavirus has led to governmental authorities at all levels issuing “stay-at-home orders,” “orders to close non-essential businesses,” and bans on gatherings of 10 people or more. The resulting shut-down, as well as the impact of widespread remote-working practices and displacement of personnel, may disrupt or interrupt trading and hedging activity ...
The Government of Serbia adopted the Regulation on the Procedure for Issuance of Debt Securities (“Regulation”). This is one of the economic measures presented to reduce the negative effects caused by the COVID-19 pandemic and an attempt to support the economy of Serbia. The Regulation entered into the force on 10 April 2020 ...
In the face of the COVID-19 pandemic, Governor J.B. Pritzker has provided relief to Illinois consumers’ pocketbooks. On April 14, 2020, the Governor issued Executive Order in Response to COVID-19 No. 23 (“Executive Order 23”). The stated purpose of Executive Order 23 is to ensure that Illinois residents have funds for essential items such as food, medicine, housing, and transportation by temporarily suspending certain consumer debt collection measures ...
