Arsenis v. M&T Bank is a tale of two cases. The bank brought an action against Ms. Arsenis to foreclosure on a mortgage loan in New Jersey Superior Court. Through a combination of defenses and counterclaims in the foreclosure action, Ms. Arsenis argued that the bank had violated the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Real Estate Settlement Procedures Act (RESPA), and the Fair Debt Collection Practices Act (FDCPA).
Businesses need data from consumers, and the sharing and selling of this resource has become quite common. However, you also need to be mindful of the rights of the people whose data you collect, especially their personally identifiable information (PII). In fact, if your business stores, processes, and shares consumer data, PII compliance is a legal requirement under numerous laws.
“Don’t Mess with Texas.”
It’s an evocative phrase, which is probably why it survived so long past its humble origins as a 1980s campaign slogan to discourage drivers from littering on Texan highways.
Today, the Federal Deposit Insurance Corporation (FDIC) released 175 documents related to its supervision of banks that engaged in, or sought to engage in, crypto-related activities.
Acting Chairman Travis Hill issued the following statement in connection with the release:
“I have been critical in the past of the FDIC’s approach to crypto assets and blockchain. As I said last March, the FDIC’s approach ‘has contributed to a general perception that the agency was closed for business if institutions are interested in anything related to blockchain or distributed ledger technology.’
Republicans on Capitol Hill are seeking to repeal a section of the Dodd-Frank Act that requires financial institutions to report information contained in loan applications submitted by women-owned, minority-owned and LGBTQI+-owned small businesses.
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