On May 5, 2026, the Massachusetts Division of Banks (the “Division”) entered a settlement agreement with Bridge IT, Inc. (the “Settlement Agreement”), which does business as Brigit, to resolve allegations that Brigit acted as a third-party loan servicer in...
The United States Court of Appeals for the Tenth Circuit has held that a state that opts out of Section 1831d of the Depository Institutions Deregulation and Monetary Control Act’s (“DIDMCA”), 12 U.S.C. § 1831d, can impose their own usury laws on out of state banks...
Freddie Mac Not Liable for Unauthorized Actions of Mortgage Servicers The United States District Court for the Western District of Washington, citing the Merrill doctrine, has held that the Federal Home Loan Mortgage Corp., more commonly known as Freddie Mac, cannot...
In Fannie Mae v. Branch, after a long and complicated litigation involving two Appeals Court decisions, the SJC recently ruled that an appeal of a summary process (i.e., eviction) claim was not rendered moot by a bidder’s transfer of its interests in the property at...
In a rare intersection of banking and financial services law with geopolitics, Vladislav Klyushin—a wealthy Russian businessman convicted for financial crimes by a federal jury in Boston last year—was released as part of a prisoner swap between Russia and the West...
A unanimous United States Supreme Court has held that individuals can sue federal agencies for violations of the Fair Credit Reporting Act, 15 U.S.C.A. §§ 1681n and 1681o (“FCRA”). Finding that federal agencies are “persons” within the meaning of the FCRA, the Court...
Coinbase, Inc. operates an online cryptocurrency exchange platform. To gain access to Coinbase’s platform, individuals must create a Coinbase account, which requires them to sign Coinbase’s user agreement. This agreement contains an arbitration clause that requires...
The United States Court of Appeals for the Sixth Circuit, in a case spanning fourteen years, has held that consumers alleging a violation of the Fair Credit Reporting Act (“FCRA”), 15 U.S.C.A. § 1681e(b), must allege actual harm to sue under the statute. A claim for...
In Pittner v. Castle Peak 2012-1 Loan Trust (Memo & Order April 14, 2021), the United States District Court for the District of Massachusetts awarded summary judgment to Defendants, Castle Peak 2012-1 Loan Trust and Selene Finance LP, on Plaintiff’s claims of...
The First Circuit recently affirmed the dismissal of a case in which the plaintiff alleged that Citizens Bank's "Sustained Overdraft Fees" on overdrawn checking accounts were usurious interest charges in violation of Section 85 of the National Bank Act (the "NBA")....
