Daily Digest – April 11. N.Y. DFS Issues Guidance to Help Understand New SOL Rules; Judge Grants Motion for Defendant Over Interest Disclosure, Settlement Offer in Letter

N.Y. DFS ISSUES GUIDANCE TO ADDRESS ‘POTENTIAL CONFUSION’ OVER NEW SOL RULES

  • The New York Department of Financial Services has issued guidance “to address potential confusion” about how to comply with a new statute of limitations requirement that went into effect last week, lowering the period to three years while also disallowing a partial payment to restart the statute of limitations, and requiring additional disclosures to be made.

JUDGE GRANTS MOTION FOR DEFENDANT OVER INTEREST DISCLOSURE, SETTLEMENT OFFER EXPIRATION IN LETTER

  • In a case that was defended by the team at Malone Frost Martin, a District Court judge has granted a defendant’s motion for judgment on the pleadings in a Fair Debt Collection Practices class action after alleging that the amount owed listed in a collection letter was lower than it should have been and that a settlement offer did not provide a deadline by which it had to be accepted.

MARYLAND LEGISLATURE ADVANCES BILL REQUIRING REFUND TO PATIENTS TO WERE ELIGIBLE FOR FREE HEALTHCARE

  • A bill is progressing through the Maryland legislature that, if passed, would require the state to develop a process that identifies individuals who paid for hospital services that may have otherwise qualified for free care under existing state law and reimburse those individuals for the money they paid.

EXPERTS SHARE CONTEXT ON CASES IMPACTING ARM INDUSTRY

  • Understanding the context and consequences of court rulings can be difficult. Thankfully, there are experts out there that can do it for us. Joann Needleman, Rick Perr, Michael Klutho, Lauren Burnette, and John Redding break down the ins and outs of cases impacting the ARM industry in this week’s Compliance Digest, which is brought to you by Bedard Law Group.

WORTH NOTING: A look at the 10 Senate races that are most likely to flip in November’s mid-term elections … The must-have guide for parents getting ready for Spring sports … Deposit levels at banks are set to drop for the first time since World War II 80 years ago … In honor of National Pet Day, the favorite pet in every state … Cats vs. dogs. Which pet makes better financial sense? … Have a cute kid? The search for the 2022 Gerber Baby is on … Photos from the MastersHow to get the most for your old junk.

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