trust

Delaware federal district court certifies questions regarding CFPB’s enforcement authority and constitutionality to Third Circuit for interlocutory appeal

By John C. Grugan & Thomas Burke on February 22, 2022

Posted in CFPB, Regulatory and Enforcement

In CFPB v. National Collegiate Master Student Loan Trust et al., the district court rejected the Trusts’ arguments that they were not “covered persons” under the CFPA and that because the enforcement action was filed by an unconstitutionally structured CFPB, it was void when filed and could not stop the statute of limitations from running. … Continue Reading

Ninth Circuit rules loan to trustee to finance repairs to residential property owned by trust was consumer credit transaction

By John L. Culhane, Jr. on April 23, 2020

Posted in Regulatory and Enforcement

The U.S. Court of Appeals for the Ninth Circuit recently ruled in Gilliam v. Levine that a loan made to an individual trustee to finance repairs on residential property owned by the trust was a “consumer credit transaction” for purposes of the Truth in Lending Act, the Real Estate Settlement Procedures Act, and California’s Rosenthal Act.… Continue Reading