The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance industry. In the years since its enactment, the Dodd-Frank Act has led to significant industry reforms and the promulgation of numerous new laws and regulations.

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Mortgage Servicing Rules

Cezair v. JPMorgan Chase Bank, N.A., No. DKC 13-2928 (D.Md. Aug. 29, 2014).

Plaintiff Ronald Cezair filed suit against Federal Home Loan Mortgage Corporation ("FHLMC"), JPMorgan Chase Bank, N.A. ("Chase"), and LendingTree, LLC ("LendingTree") alleging violations of the Truth in Lending Act ("TILA"), the Real Estate Settlement Procedures Act ("RESPA"), and state law. Defendants filed motions to dismiss.

With respect to the TILA claim, Cezair alleged that Chase and FHLMC failed to send him notice that the ownership of his loan changed pursuant to 15 U.S.C. § 1641(g) and sought damages in connection with defendants' failure to send notice. Chase and FHLMC argued that TILA's one-year statute of limitations barred Cezair's claim. However, the court rejected this argument finding that the date of the transfer was not alleged in the complaint and, therefore, the court could not properly consider the statute of limitations defense.