More about Adam Faria
Adam Faria, JD, is a regulatory compliance consultant with CLA. He is a graduate of Northeastern University and earned his juris doctor at Suffolk University Law School. He is admitted to the bar in Massachusetts and New Hampshire.
Blog Posts by Adam Faria:
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Alabama Enacts Provisions Regarding Data Breach Notification Act
Alabama has enacted SB318, an act known as the Alabama Data Breach Notification Act of 2018. The act requires that a covered entity provide notice to an individual where that individual’s personally identifying information may have been compromised as a result of a data breach.
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Tennessee Amends Provisions Regarding Interest Rate Limits
Tennessee has enacted HB1944 to amend interest rate limits under its Industrial Loan and Thrift Companies Act. The bill changes current law so that interest rates apply to the amount financed instead of the total amount of the loan. These amendments only apply to certain loans made by industrial loan and thrift companies.
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Maryland Prescribes a Model Form for Expedited Foreclosure Proceedings for Vacant and Abandoned Properties
Effective November 6, 2017, the state of Maryland has amended regulation .08 under COMAR 09.03.12, Foreclosure Procedures for Residential Property.
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Alaska Fiduciary Access to Digital Assets Act
Effective October 31, 2017, Alaska has enacted the Revised Uniform Fiduciary Access to Digital Assets Act as Title 13, Chapter 63 of the Alaska Statutes. The Act addresses four common types of fiduciaries: executors or administrators of estates, guardians or conservators, agents acting under a power of attorney, and trustees of a trust.
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Louisiana Modifies Recording Requirements
Louisiana has passed Senate Bill No. 236 which amends, reenacts and sets forth several provisions relating to recording fees, recording standards, the maintenance of recorded documents, and the electronic recording of documents. These provisions are effective on August 1, 2017.
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Louisiana Amends Provisions Regarding Cancellation of Mortgages
The state of Louisiana has passed HB 400 which amends provisions relating to the cancellation of mortgages and adds provisions relating to the partial cancellation of mortgages. These amendments include changes to the model form for cancellation of mortgages and the addition of a model form for the partial cancellation of mortgages. The provisions of HB 400 take effect August 1, 2017.
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Alabama Fiduciary Access to Digital Assets Act
Effective January 1, 2018, Alabama has enacted the Revised Uniform Fiduciary Access to Digital Assets Act as Chapter 1A of Title 19, Code of Alabama 1975.
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Maryland Enacts Two Provisions Regarding Notice of Foreclosure Sale
Maryland has enacted House Bill 1048, which requires filing of a notice of foreclosure sale with the Department of Labor, Licensing, and Regulation, and House Bill 26 which provides that a person authorized to make a foreclosure sale give notice of the sale and any postponements or cancellations to the record owner of the property and to condominium or homeowners associations.
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Virginia Uniform Fiduciary Access to Digital Assets Act
Virginia has enacted the ‘Uniform Fiduciary Access to Digital Assets Act.’ The Act allows a user to use an online tool or to direct in a will, trust, power of attorney or other record disclosure the release of all, none or some of the users digital assets in the possession of a custodian to a designated recipient.
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California Adopts Several Provisions affecting Mortgage Lenders, Mortgage Servicers, and Fiduciaries
California adopts several provisions affecting mortgage lenders, mortgage servicers, and fiduciaries.