Anna-Liza Harris

Katten Muchin Rosenman LLP

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Third Circuit Says Statutory Trusts are ‘Covered Persons' Under Consumer Financial Protection Act

In a ruling long anticipated in the securitization industry, the US Court of Appeals for the Third Circuit on March 19 issued its opinion in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan...more

3/25/2024 / Consumer Financial Products , Consumer Financial Protection Act (CFPA) , Consumer Financial Protection Bureau (CFPB) , Consumer Lenders , Debt Collection , Financial Services Industry , Student Loans , Trust Administration , Trusts

SEC Delays Enforcement of Rule 15c2-11 Compliance

In 2021, the Securities and Exchange Commission (SEC) took the industry off-guard by announcing its new position that Rule 15c2-11 of the Securities Exchange Act of 1934 (Rule) and its amendments apply to fixed-income...more

2/1/2023 / Enforcement Actions , Financial Services Industry , Investors , Retail Investors , Securities , Securities and Exchange Commission (SEC) , Securities Exchange Act of 1934

California Court of Appeal Ruling Limits Application of Default Interest

The California Court of Appeal recently ruled that California law treats default interest measured against the unpaid principal balance of a loan as an unenforceable penalty. In Honchariw v. FJM Private Mortgage Fund, LLC...more

11/9/2022 / Borrowers , California , Contract Terms , Financial Contracts , Financial Services Industry , Financing , Lenders , Loan Agreements , Loans

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