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The United States Court of Appeals for the Sixth Circuit affirmed a lower court’s decision dismissing plaintiff’s action to set aside a foreclosure sale based on alleged violations of the non-judicial foreclosure process in Michigan.

Last week, the United States Supreme Court ("SCOTUS") issued a ruling examining the Telephone Consumer Protection Act ("TCPA") exception for robocalls made to collect government debt.

Massive business closings, layoffs and furloughs have rendered many co-op shareholders and condo unit owners unable to pay their mortgage as well as their maintenance or common charges.

In February 2014, Morrison & Foerster published the client alert "The CFPB Targets Mortgage Reinsurance Yet Again."

A broker-dealer settled SEC charges for violating retail order period restrictions in connection with the offering of municipal bonds.

A former U.S. Representative for New York's 27th Congressional District, his son and a third individual settled SEC charges for insider trading.

The Massachusetts Appeals Court examined whether demanding default interest at an unlawful rate constitutes an unfair business practice under Chapter 93A, even when the lender believed the rate was permissible based on acquired loan documents. The decision turned on factual findings regarding the lender's knowledge and intent when purchasing and enforcing a mortgage containing a usurious interest provision.

Given the continued market instability, NASDAQ has submitted to the U.S. Securities and Exchange Commission a proposal to extend through July 19, 2009, its prior suspension of its rules requiring that NASDAQ-listed companies maintain a minimum bid price and market value of their public float (i.e., shares held by non-affiliates).

Given the current market conditions, NASDAQ announced that effective October 16, 2008, it has suspended through January 16, 2009, the enforcement of its rules requiring that NASDAQ-listed companies maintain a minimum bid price and market value of their public float (i.e., shares held by non-affiliates).

To close out 2006 the SEC has issued a welcome amendment of its Executive Compensation Disclosure Rules (adopted in July 2006) so that the calculation and reporting of the compensation from equity awards will be easier to compare with the values reported in the company’s financial statements.

On January 27, 2010, the Securities and Exchange Commission ("SEC") voted to adopt interpretive guidance addressing public company disclosure standards in connection with climate change.

A summary of recent action taken by the Securities and Exchange Commission.

Yesterday, the Securities and Exchange Commission ("SEC") issued a formal stay of the effectiveness of the newly adopted shareholder proxy access rules in the face of a legal challenge brought by the Business Roundtable and the U.S. Chamber of Commerce.

As we reported in our June 22, 2009 Alert, the U.S. Securities and Exchange Commission (the "SEC") on June 10, 2009, issued Release No. 33-9046 (the "Release") proposing significant changes to its proxy rules that would grant certain shareholders the ability to have their own director nominees included in a company's proxy materials.

As the Obama Administration ramps up its efforts against corruption, the new Foreign Corrupt Practices Act unit at the Securities and Exchange Commission (SEC) is aggressively prosecuting perpetrators, sending a loud-and-clear message that they will be found, prosecuted and punished.

On April 5, 2012, President Obama signed the Jumpstart Our Business Start-Ups Act, also known as the JOBS Act.

On January 11, 2024, an administrative law judge for the NLRB issued an opinion holding that the employment agreement used by a major mortgage...

In October 2014, Morrison & Foerster published the client alert "CFPB as HUD: Another Section 8 Consent Order Displays CFPB's RESPA Approach."