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Expert Analysis

• When It Comes To CFPB Agenda, Expect The Unexpected

  

  The Consumer Financial Protection Bureau's regulatory agenda identifies some key issues for financial institutions, but it is by no means a complete list, as the agency may continue to make extensive use of circulars, advisory opinions, amicus briefs and other means of setting out regulatory positions, says Michael Flynn at Buchalter.

• Townstone Ruling Rocks The Boat On Equal Credit Law Reach

  

  While an Illinois federal court's recent decision in Consumer Financial Protection Bureau v. Townstone has disturbed the use of the Equal Credit Opportunity Act to address discrimination in preapplication activities, lenders must still continue to monitor how they interact with prospective applicants to mitigate fair lending risk, say attorneys at Paul Hastings.

• Don't Assume AI Is Smart Enough To Avoid Unintended Bias

  

  As companies increasingly incorporate artificial intelligence decision models into their business practices, they should consider using statistical and qualitative analyses to evaluate and reduce inadvertent discrimination, or disparate impact, induced by AI, say Christine Polek and Shastri Sandy at The Brattle Group.

• Steps Lawyers Can Take Following Involuntary Terminations

  

  Though lawyers can struggle to recover from involuntary terminations, it's critical that they be able to step back, review any feedback given and look for opportunities for growth, say Jessica Hernandez at JLH Coaching & Consulting and Albert Tawil at Lateral Hub.

• NY Law Alters Foreclosure Timeliness Framework Post-Engel

  

  New York's recently passed Foreclosure Abuse and Prevention Act aims to prevent lender manipulation of foreclosure statutes of limitations following the Court of Appeals' 2021 decision in Freedom Mortgage v. Engel, and should cause lenders to work with mortgagees to resolve defaults, say attorneys at Abrams Fensterman.

• High Court Ax Of Atty-Client Privilege Case Deepens Split

  

  The U.S. Supreme Court's recent dismissal of In re: Grand Jury as improvidently granted maintains a three-way circuit split on the application of attorney-client privilege to multipurpose communications, although the justices have at least shown a desire to address it, say Trey Bourn and Thomas DiStanislao at Butler Snow.

• CFPB Brings RESPA Reminder To Mortgage Comparison Sites

  

  In light of the Consumer Financial Protection Bureau's recent advisory opinion on the Real Estate Settlement Procedures Act, anyone who, in a compensated arrangement, operates or participates in a digital comparison-shopping platform for real estate settlement services should revisit RESPA and related regulatory risk, say attorneys at Foley & Lardner.

• 3 Job Satisfaction Questions For Partners Considering Moves

  

  The post-pandemic rise in legal turnover may cause partners to ask themselves what they really want from their workplace, how they plan to grow their practice and when it's time to make a move, says Patrick Moya at Quaero Group.

• 4 Exercises To Quickly Build Trust On Legal Teams

  

  High-performance legal teams can intentionally build trust through a rigorous approach, including open-ended conversations and personality assessments, to help attorneys bond fast, even if they are new to the firm or group, says Ben Sachs at the University of Virginia School of Law.

• Key Considerations For Appointing A Real Estate Receiver

  

  With commercial real estate loan distress expected to grow dramatically in the coming months, lenders should make sure to understand best practices for seeking appointment of a receiver over a defaulted property, say Dave Wald at Wald Realty Advisors and Mark Silverman at Locke Lord.

• NY Foreclosure Notice Ruling Is A Win For Lenders

  

  The New York Court of Appeals' decision this week in Bank of America v. Kessler, holding that including additional information does not void 90-day preforeclosure notices, will counteract the wave of foreclosure dismissals caused by the lower court's decision, say Diana Eng and Alina Levi at Blank Rome.

• 8 Steps To Improve The Perception Of In-House Legal Counsel

  

  With the pandemic paving the way for a reputational shift in favor of in-house corporate legal teams, there are proactive steps that legal departments can take to fully rebrand themselves as strong allies and generators of value, says Allison Rosner at Major Lindsey.

• Procedure Rule 7.1 Can Simplify Litigators' Diversity Analysis

  

  A recent amendment to Federal Rule of Civil Procedure 7.1 will help trial courts determine whether the parties to a case are diverse, and may also allow litigators to more quickly determine whether they can remove certain cases to federal court, says Steve Shapiro at Schnader Harrison.