What You Can Learn about Vendor Management from the DocuSign Breach
While some industries may get away with the "trust but verify" model, heavily regulated industries such as financial services have no such luxury. Trust no one-you can't afford to.
Last week, DocuSign, one of the most frequently used electronic signing services, reported a data breach involving phishing emails being sent to its customers. While inside the DocuSign system, criminals stole possibly more than 100 million emails to use as targets in a phishing email campaign. Wrong-doers sent emails to customers with ...
In Midland Funding, LLC v. Johnson, No. 16-348 (May 15, 2017), the U.S. Supreme Court held that a debt collector does not run afoul of the FDCPA by filing a proof of claim in bankruptcy on a stale debt. In its 5-3 decision, the Court sided with the majority of the federal courts of appeals to have considered the issue and reversed the Eleventh Circuit Court of Appeals, which had held that filing a proof of claim on a debt for which the statute of limitations had expired amounted to a "false," "deceptive," "misleading," "unconscionable," and "unfair" means of debt collection.
The case arose ...
Florida's Fourth DCA issued an opinion on April 12, 2017 in Nationstar Mortgage LLC v. Glass, No. 4D15-4561, following suit with the Third and Fifth DCAs in denying a borrower's motion for attorney's fees based on a provision in the subject mortgage after the borrower successfully argued for the dismissal of the foreclosure action on the basis that the plaintiff lacked standing to foreclose.
Ann Marie Glass ("Glass") obtained a dismissal with prejudice of Nationstar Mortgage LLC's ("Nationstar") amended foreclosure complaint in the lower tribunal. See Glass, at 1. Nationstar ...
Third party purchaser lacks standing to participate in foreclosure proceeding, absent assertion of intention to redeem the property.
After the Second District Court of Appeal issued a per curiam affirmance of the entry of final judgment of foreclosure in favor of the bank, Judge Sleet issued a specially concurring opinion in which he concluded that because the appellant was a third party purchaser of the property who was not obligated on the note and mortgage, it was "questionable" whether she had standing to challenge the bank's foreclosure proceeding in the first place. Pealer v ...
The West Virginia Senate Judiciary Committee and the West Virginia Senate recently approved amendments to the West Virginia Consumer Credit and Protection Act ("WVCCPA"), West Virginia Code §§ 46A-1-101 et seq, which was last amended in 2015. While the original versions of the senate bills sought to make the WVCCPA more similar to the federal Fair Debt Collection Practices Act ("FDCPA"), 15 U.S.C. §§ 1692 et seq., the committee substitute of S.B. 563 includes only minor amendments. Among other things, the proposed amendments:
- Clarify how notice of attorney representation must ...
On March 1st, Florida's Third District Court of Appeal affirmatively held that a mortgage holder who fails to prove its standing to foreclose is not liable to a defendant borrower for prevailing party attorney's fees. The Fitzgerald holding is succinct but immensely significant: "[b]ecause [the Borrower] successfully obtained a judgment below that the [Plaintiff] lacked standing to enforce the subject mortgage and note against her . . . no contract existed between the [Plaintiff] and [Borrower] that would allow [the Borrower] to invoke the reciprocity provisions of Section ...
Since Spokeo v. Robins, 136 S. Ct. 1540 (2016), as revised (May 24, 2016), the consumer finance industry has continued to refine what it means to allege a concrete injury in fact and to meet Article III case and controversy requirements where statutory rights are alleged to have been violated. In Spokeo, the Supreme Court made clear that a "concrete" injury is necessary to confer Article III standing yet, the palpability of the injury alone does not dictate whether the injury is sufficiently concrete to confer standing--leaving room for "concrete" yet intangible injuries as a basis for ...
Following the Florida Supreme Court's recent decision in Bartram v. U.S. Bank, N.A., 41 Fla. L. Weekly S493, 2016 WL 6538647 (Fla. Nov. 3, 2016), courts were left to interpret how Bartram would affect lenders' reliance on breach letters issued more than five years prior to a foreclosure proceeding initiated after the dismissal of a prior action. Florida's Second District Court of Appeal answered this very question in its opinion in Desylvester v. Bank of New York Mellon, et al., which indicates that lenders need not send a new breach letter in subsequent foreclosure actions filed after ...
The Ninth Circuit Court of Appeals recently held that, for purposes of the Telephone Consumer Protection Act of 1991 (TCPA), the scope of a consumer's consent depends on the transactional context in which it is given. Van Patten v. Vertical Fitness Group, LLC, Case No. 14-55980 (9th Cir. Jan. 30, 2017). Specifically, the court concluded that an "effective consent" is one that relates to the same subject matter for which the calls or text messages are being made. The court further established that while a consumer does have the ability to revoke consent, the revocation must clearly ...
Florida's Fourth District Court of Appeal breathed life back into the lis pendens statute by reversing course in Ober v. Town of Lauderdale-By-the-Sea. On a motion for rehearing, the Court withdrew and replaced its August 24, 2016 opinion, which "eviscerated" the lis pendens statute by holding that liens placed on property between a final judgment of foreclosure and the judicial sale were not discharged by Florida Statute § 48.23. For an in-depth discussion of the Court's August 24, 2016 opinion, click here. Consistent with the real property and mortgage industry's understanding ...