HOME | CREDIT ARCHIVES
GOVERNMENT AFFAIRS
Trial Brief Submitted in Montgomery County Case
The brief, submitted June 2nd to the Circuit Court of Montgomery County, is AFSA's final document in support of its Complaint for Declaratory Judgment and Permanent Injunction to declare Montgomery County, Maryland Bill 36-04 invalid and prevent its enforcement by the county.
Senior Vice President and General Counsel Robert McKew was a panelist for Protecting Consumers in the New Mortgage Marketplace held May 24th in Washington, D.C. The workshop's purpose was to explore consumer protection issues arising from the emergence of "nontraditional" mortgage products in the United States residential marketplace.
More Details
Randy Lively, AFSA president and CEO, testified at a May 11th hearing that Congress should think carefully about proposals to restrict the financial services industry's use of social security numbers. During the hearing, Rep. Joe Barton (R-TX), who chairs the full Energy and Commerce Committee, said he would introduce legislation this year that would restrict the use of social security numbers in certain commercial transactions.
Press Release
Randy Lively's Testimony
In May, AFSA petitioned for a writ of certiorari in the Cingular Wireless v. Mendoza case. The principal issue is whether individual arbitration agreements are subject to "class action" arbitration, as permitted by the state of California.
More Details
The mortgage industry could face billions of dollars of potential liability if paid-off loans are eligible for rescission under the Truth in Lending Act. That possibility motivated AFSA to file this brief (see link below). Such a staggering level of potential liability—for what are often technical infractions—appears to be sharply at odds with Congress's clear intent to limit damages under TILA to amounts that are proportional to the infraction.
More Details
The Coalition to Implement the FACT Act, which includes AFSA among its members, submitted a comment letter to the Board of Governors of the Federal Reserve System pertaining to furnisher liability. The Coalition fears that inappropriate regulatory intervention may create compliance burdens.
More Details
AFSA favors the data security bill that came out of the Financial Services Committee, as opposed to the Energy and Commerce bill. Both committees, though, are in discussions over which committee should have jurisdiction. In addition, the House Committee on the Judiciary introduced and passed through committee a bill that assigns criminal penalties to those who commit identity theft.
More Details
Gregory Williams, AFSA Regional Director of State Government Affairs, testified by teleconference on April 28 before the Alaska Senate Finance Committee. His testimony focused on SB 272, a measure relating to mortgage lending activities and broker licensing.
More Details
|
 |
|
|
|
Indicates link outside Credit. Close new window to return.
