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California Federal Court Holds that CAN-SPAM Act Does not Preempt State Law Claims
The U.S. District Court for the Northern District of California recently ruled that the federal Controlling Assault of Non-Solicited Pornography and Marketing Act (CAN-SPAM Act) does not preempt California’s Deceptive Commercial Email statute (the Code). Asis Internet Servs. v...
InfoBytesAdditional States Implement SAFE Act
Several states recently amended applicable state law to reflect compliance with the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act); namely, (i) on April 22, Nebraska Governor Dave Heineman signed LB 328 , (ii) on April 15, Iowa Governor Chet Culver signed SF 355...
InfoBytesDelaware Amends Delaware General Corporation Law
On April 10, Delaware Governor Jack Markell signed HB 19 , a bill amending the Delaware General Corporation Law. In addition to technical amendments, the amendments authorize, but do not require (i) corporate bylaws to include stockholder nominees to the board in the corporation’s proxy...
InfoBytesNorth Dakota Amends State Mortgage Law
On April 9, North Dakota Governor John Hoeven signed SB 2160 , a bill amending North Dakota mortgage law. The bill outlines permissible and maximum charges and permissible payment installments by licensees. In addition, the bill reflects compliance with the federal Secure and Fair Enforcement for...
InfoBytesNew Mexico Passes Mortgage Loan Originator Licensing Act
On April 6, New Mexico Governor Bill Richardson signed into law SB 342 , the “New Mexico Mortgage Loan Originator Licensing Act” (the Act). The Act implements the mandate of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) by providing for the licensing of all...
InfoBytesIllinois Law Requires Notice of Right to Seek Foreclosure Counseling; Creates 30-Day Grace Period
On April 5, Illinois Governor Pat Quinn signed SB 2513 , an omnibus bill containing provisions requiring mortgage lenders to notify borrowers in default for 30 days or more of the borrower’s right to seek housing counseling, which will provide a 30-day grace period during which the mortgage lender...
InfoBytesFirst Circuit Holds State Law Claims Insufficient to Defeat HOLA Preemption Defense
On April 3, the U.S. Court of Appeals for the First Circuit upheld the denial of a plaintiff’s state law claims in a case involving default interest charged on a credit card. Yeomalakis v. Federal Deposit Insurance Corporation , No. 08-1444, 2009 WL 884936 (1st Cir. Apr. 3, 2009). The plaintiff’s...
InfoBytesArkansas Amends Fair Mortgage Lending Act
On April 1, Arkansas Governor Mike Beebe signed HB 1881 , a bill that amends the Arkansas Fair Mortgage Lending Act. In general, the bill amends the Act’s definitions, surety bond requirements, license application procedures, reporting requirements, prohibited activities, and penalties...
InfoBytesMinnesota Federal Court Dismisses Putative Class Action Against Lender
On March 31, the U.S. District Court for the District of Minnesota dismissed a putative state-wide class action involving claims of breach of contract, unlawful and deceptive trade practices, breach of fiduciary duties, and unjust enrichment against a residential mortgage lender. Weller v...
InfoBytesKansas Governor Signs Bill Amending State Mortgage Law, Safeguarding Personal Financial Information
On March 27, Kansas Governor Kathleen Sebelius signed SB 240 , a bill that amends Kansas state mortgage law to reflect compliance with the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) and to impose requirements regarding the protection of personal consumer...
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