DCA Blog

Mortgage Holders Cannot Sustain Class Action Against Bank Of America

After the recent economic collapse, a number of homeowners struggled to keep up with their mortgage payments. In response, the federal government established the Home Affordable Modification Program (HAMP) to help homeowners and banks come together to refinance underwater mortgages. The hope was that more people could stay in their homes, which would slow down the devastation following the housing market crash. Many homeowners applied for the program but allegations began surfacing that banks we ...

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RadioShack Customers Allege Violations of Federal Law - Settlement of Class Action is Pending

Customers of RadioShack should be aware of Redman, et al. v. RadioShack Corporation, Case No. 11-C-6741, a class action lawsuit filed in the Federal District Court for the Northern District of Illinois. In the lawsuit, RadioShack customers allege that RadioShack stores unlawfully printed their credit card information on purchase receipts in violation of the Fair and Accurate Credit Transactions Act (“FACTA”). FACTA is a federal law, enacted to combat identity theft, which requires ...

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Circuits Split over Inherited IRAs in Bankruptcy Cases

Bankruptcy in the United States courts has always been a battle between competing interests. On one hand, bankruptcy exists for the benefit of creditors; the bankrupt party (the “debtor”) generally works with the court and its officers to pay back creditors as much of the debt as possible. On the other hand, bankruptcy is designed to give debtors a fresh start. So while paying back creditors often requires debtors to turn over most of their assets, the bankruptcy laws also attempt to protect debtors from living on the streets.

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CFPB Releases Mortgage Complaint Data

On March 28, 2013, the Consumer Financial Protection Bureau (CFPB) expanded its Consumer Complaint Database (CCD) to include complaints involving mortgages, student loans, bank services, and other types of loans. The expansion also features added specificity about each complaint; such as the type of mortgage involved. The CFPB launched the CCD last year with data relating to credit card complaints. The new database allows consumers to view over 90,000 complaints, up from 19,000 available before the expansion.

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Fourth Circuit Extends FCA Statute of Limitations in Wartime

Under the False Claims Act (FCA), whistleblowers must file their qui tam claims within six years of the alleged violation (or within 10 years if the case is filed within 3 years of the whistleblowers discovery of the fraud). But in a March 18, 2013 decision, the United States Court of Appeals for the Fourth Circuit applied provisions from the Wartime Suspension of Limitations Act (WSLA) that toll the FCA statute of limitations for fraud in wartime, holding that this claim was thus not time-barred.

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