On March 29, 2016, U.S. District Judge Alison Nathan in the case of Abigail Strubel, Plaintiff v Capital One Bank. N.A., Defendant granted summary judgment against a putative class action alleging that the Garamond LC font used by Capital One Bank in its credit card applications was not “clear and conspicuous” as required by the Truth in Lending Act. The plaintiffs argued that the commentary provided by the Consumer Financial Protection Bureau (CFPB) indicated that no […]
Month: April 2016
SCRA: 90 DAY PERIOD EXTENDED TO ONE YEAR
The Foreclosure Relief and Extension for Servicemembers Act of 2015 was enacted on March 31, 2016. It amends the Honoring America’s Veterans and Caring for Camp Lejeune Families Act of 2012 by extending the one-year period after a service member’s military service during which certain protections apply. Those protections include: 1) a court may stay proceedings to enforce an obligation on real or personal property owned by the service member before such military service; and […]
SCOTUS – SPOUSAL GUARANTORS
On March 22, 2016 the Supreme Court of the United States (SCOTUS) rendered a 4-4 split decision, that consisted of one-sentence, that effectively affirmed an Eighth Circuit ruling that dismissed a lawsuit in which two women argued Community Bank of Raymore improperly forced them to act as guarantors for loans extended to their husbands. The Eighth Circuit held that the Federal Reserve Board’s Regulation B spousal guarantor rule (12 C.F.R. 202.0(e)), which extended Equal Credit […]