statutes of limitation

Nevada Supreme Court Cabins Statute Eliminating Limitations Period On Deposit Claims Against Banks

By Amy L. Schwartz & Dick Thomson on December 2, 2020

Posted in Deposit Accounts, Litigation and Court Decisions

On November 20, 2020, the Nevada Supreme Court handed banks a significant victory by agreeing with the Defendant bank’s interpretation of a Nevada statute concerning the application of statutes of limitation.

In Cantlon v. Wells Fargo Bank, N.A., et al., addressing certified questions from the Bankruptcy Court for the District of Nevada, the Nevada Supreme Court rejected the argument that the statute eliminates temporal limits on claims against banks relating to deposit accounts. … Continue Reading

CFPB extends comment period for supplemental debt collection proposal; states take emergency SOL actions

By Ballard CFS Group on May 20, 2020

Posted in CFPB, COVID-19, Debt Collection NPRM, Regulatory and Enforcement

Comment period extension. Yesterday, the CFPB announced a second 60-day extension of the comment period for its supplemental proposal that would require debt collectors to make specified disclosures when collecting time-barred debts. The CFPB previously extended the initial May 4 comment deadline until June 5. The new comment deadline is August 4, 2020. … Continue Reading