Credit Disputes For Boston Renters: Attorney Insights For Lease Approval – Eckert Seamans’ commercial litigation team provides a full range of advisory, litigation and dispute resolution services. We have the multi-jurisdictional capabilities and experience to skillfully and cost-effectively guide clients to successfully resolve disputes nationwide, while understanding the unique features of the federal and state court systems, including specialized state commercial courts. Eckert Seamans’ commercial litigation lawyers advise clients on a wide range of commercial disputes in the local, regional and national industrial sectors. Our litigators have extensive experience in a variety of business-to-business and consumer-to-business disputes. Our team has built a strong reputation for providing clients with high-quality, timely and efficient services at competitive costs in a variety of complex and high-stakes commercial litigation matters in the following areas:

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Credit Disputes For Boston Renters: Attorney Insights For Lease Approval

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The Eckert Seamans website uses cookies to improve user experience, personalize content and analyze our traffic. By using our site, you agree to accept all cookies in accordance with our Privacy Policy and Terms of Use. Last week, a very interesting lawsuit came out of Massachusetts that caught my attention. You might be thinking, “What the hell does Massachusetts have to do with Texas or Michigan?” For one, Vineyard Vines makes some great clothing that looks great no matter what state you’re in (physical or mental) all good. Second, the decision in this lawsuit could affect multifamily tenants across the country.

Obviously, since it comes from the Federal District Court in Massachusetts, it won’t directly impact landlords in Texas. But the issue may be a common one affecting the courts or plaintiffs here. So I think this is a topic worth discussing. So let’s do this.

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The basics of the case are this — a Boston-area property management company was using an outside company, SafeRent Solutions LLC, to conduct tenant screening. This information is then used to determine whether to rent the apartment to potential tenants.

SafeRent uses automated algorithms in screening to determine whether tenants qualify for apartment communities. This provides a SafeRent score based on a variety of factors, including credit history, bankruptcy history, past due accounts, payment performance and eviction history. But it is said to have no separate human input. It’s just a computer algorithm.

Nonetheless, both the landlord and SafeRent are being sued in a class-action lawsuit. In that lawsuit, the plaintiffs claimed that SafeRent’s algorithm was largely based on factors that produced disproportionately lower SafeRent scores for black and Hispanic applicants. And it takes into account factors that don’t necessarily indicate a higher tenant risk. As a result, it violated the Fair Housing Act.

In response, SafeRent argued that algorithmic screening programs are not subject to FHA standards. It considers this just an algorithm it provides to landlords to make decisions. SafeRent itself does not make tenant decisions.

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So far, SafeRent’s arguments have not been convincing to Massachusetts courts. The court said there was sufficient evidence in the plaintiffs’ petition to show that SafeRent only provided a uniform score based on an algorithm that landlords could not change. SafeRent understands that landlords rely solely on this score to make rental decisions. *As a result, SafeRent is subject to the jurisdiction of the Federal Housing Administration (FHA) and the plaintiffs’ lawsuit can therefore proceed.

So, what does this mean? Should Texas landlords care? Yes. and no. This means a lot. Or maybe nothing. Is this clear?

First, this ruling comes from the Federal District Court for the District of Massachusetts. Massachusetts courts have no precedential value against Texas courts. So, technically, this decision means nothing to Texas landlords.

But it’s not uncommon for courts to look to other districts for guidance and reasoning. Therefore, if a similar case arises in Texas, the court may consider this Massachusetts decision. As such, it has potential influence on Texas courts.

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Of course, the defendant can appeal the decision. If that happens, the circuit courts and the Supreme Court will likely rule on the issue. A circuit court decision will not set a direct precedent, but it can be even more influential than a district court decision. Of course, the Supreme Court’s ruling will become the law of the land.

The most likely reason Texas landlords should take note, however, is that this decision will likely incentivize other plaintiffs across the country. Maybe right here in Texas. This could mean Texas landlords being sued for violating the Fair Housing Act for their contact with some tenant screeners. At the very least, landlords should be aware of this. The Dodd-Frank Wall Street Reform and Consumer Protection Act is legislation passed by the United States Congress in response to financial industry practices that led to the 2007-2008 financial crisis. It attempts to make the U.S. financial system safer for consumers and taxpayers.

The bill, named for its sponsors Sen. Christopher J. Dodd (D-Conn.) and Rep. Barney Frank (D-Mass.), contains numerous provisions, detailed over 848 pages, that will be completed over several years. implementation.

The Dodd-Frank Wall Street Reform and Consumer Protection Act was a major piece of financial reform legislation passed in 2010 during the Obama administration.

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Often referred to as the Dodd-Frank Act, or the Dodd-Frank Act, it created a number of new government agencies responsible for overseeing various components of the law and, in turn, all aspects of the financial system.

The financial crisis of 2007-2008 was perhaps the worst economic disaster to befall this country (and the world) since the Wall Street Crash of 1929. Broadly speaking, this is caused by behavior driven by greed and lax regulation of financial institutions.

Deregulation of the financial industry in the decades leading up to 2007 allowed various institutions in the U.S. financial services industry to lend in riskier ways than ever before. The real estate industry in particular has experienced unsustainable massive growth.

The bubble burst, sending the banking industry and global stock markets into meltdown. It has caused the worst global recession in generations.

Jeffrey W. Sacks

The Dodd-Frank Wall Street Reform and Consumer Protection Act was intended to prevent another financial crisis like the one in 2007-2008.

When Donald Trump was elected president in 2016, he promised to repeal Dodd-Frank. The U.S. Congress stood with its critics and passed the Economic Growth, Regulatory Relief, and Consumer Protection Act, which repealed significant parts of the Dodd-Frank Act.

Here are some of the provisions of the law, as well as some areas where standards have previously been relaxed:

After Joseph Biden was elected president in 2020, the CFPB focused on repealing Trump-era rules that were in direct conflict with the CFPB charter.

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The Biden administration also announced its intention to rewrite rules targeting other forms of predatory lending, such as payday loans, and on June 30, 2023, signed a law overturning the OCC’s payday lending regulations. Additionally, the CFPB is addressing subprime auto loan issues.

Supporters of Dodd-Frank think

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