Alerts

House Bill 1122 passed the Indiana State Congress and will effect changes to Indiana's Dig Law found at IC 8-1-26. The changes are effective as of January 1, 2025.

A recent Ohio court of appeals decision underscores the critical importance of compliance with procedural requirements for issuing proper notices of default in foreclosure proceedings.

A recent court decision from Delaware County, Pennsylvania, could raise concerns for mortgage lien holders. The court found that a homeowners association (HOA) foreclosure could extinguish a first mortgage lien on a property.

Weltman has recently learned that the Consumer Financial Protection Bureau (CFPB) has proposed new rules aimed at providing greater assistance to homeowners before initiating foreclosure proceedings.

The New Jersey Appellate Division recently issued a decision in the matter of Woo-Padva v. Midland Funding, LLC A-1996-21 (BER L-3625-17), finding that there is not a private right to action under the New Jersey Consumer Finance Licensing Act (NJCFLA) for failure of a business to register under the NJCFLA.

On or before October 15th of each year the Ohio Tax Commissioner is required, pursuant to Ohio Revised Code 5703.47, to determine the interest rate for certain taxes and other purposes.

On October 26, 2023, the U.S. District Court for the Southern District of Texas granted a nationwide preliminary injunction enjoining the Consumer Financial Protection Bureau (CFPB) from enforcing Section 1071 of the Dodd-Frank Act.

Illinois recently passed the Illinois Consumer Contract Reciprocal Attorney's Fees Act (Public Act 103-344), allowing recovery of attorney's fees for consumers in certain cases. In general, Illinois follows the American Rule with respect to the recovery of attorney's fees.

In an attempt to ensure that confidential and sensitive personal and financial information is maintained and secured, the Federal Trade Commission (FTC) has established many standards, and corresponding requirements, for various industries, most specifically financial institutions.

Ohio Revised Code Section 2117.06 governs the presentment of creditors' claims in Ohio estates. A recent amendment to 2117.06 will be incredibly helpful to creditors and their attorneys in presenting claims to an Ohio estate, which will result in more claims being paid.