The Seventh Circuit recently issued one of the first appellate decisions to apply the US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo, 144 S. Ct. 2244 (2024). In Loper Bright, the Supreme Court ended...more
8/12/2024
/ Chevron Deference ,
Consumer Financial Protection Bureau (CFPB) ,
Creditors ,
Discrimination ,
ECOA ,
Financial Services Industry ,
Government Agencies ,
Loper Bright Enterprises v Raimondo ,
Mortgage Lenders ,
Reasonable Interpretations ,
Regulatory Authority ,
SCOTUS ,
Statutory Interpretation
The financial services and banking industry landscape continues to evolve in the face of new and emerging technologies. This phenomenon is especially prevalent in the sharing of consumer data between financial institutions...more
6/21/2024
/ Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Privacy Rights ,
Customer Information ,
Data Collection ,
Data Security ,
E-Commerce ,
Financial Institutions ,
Financial Services Industry ,
Information Sharing ,
Open Banking ,
Regulatory Agenda ,
Third-Party
On 16 May 2024, in a much-anticipated decision, the US Supreme Court held the funding mechanism for the Consumer Financial Protection Bureau (CFPB) is constitutional. The decision, Consumer Financial Protection Bureau v....more
In late 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would subject nonbank fintech companies to the CFPB’s authority. The CFPB articulated that it intends the rule to “level the playing field”...more
On 3 October 2023, the Court heard argument in Consumer Financial Protection Bureau v. Community Financial Services Association, Ltd., No. 22-448. In the matter, the Consumer Financial Protection Bureau (CFPB) challenges the...more
The US Supreme Court has settled the question of whether an interlocutory appeal of the denial of a motion to compel arbitration pursuant to Section 16(a) of the Federal Arbitration Act (FAA) automatically stays the district...more
On 8 September 2022, sitting en banc, the Eleventh Circuit held that a debt collector’s communication of a customer’s information to the debt collector’s private, third-party commercial mail vendor was not actionable under...more
On defendant’s petition for rehearing in Hunstein v. Preferred Collection and Management Services, Inc., a panel of the 11th Circuit recently issued a new, but not improved, decision involving the Fair Debt Collection...more
On 25 June 2021, the U.S. Supreme Court issued its decision in TransUnion LLC v. Ramirez, clarifying the nature of the harm sufficient to establish Article III standing to maintain a Fair Credit Reporting Act (FCRA) claim....more
7/1/2021
/ Article III ,
Class Action ,
Class Members ,
Credit Reporting Agencies ,
Credit Reports ,
Fair Credit Reporting Act (FCRA) ,
Injury-in-Fact ,
SCOTUS ,
Standing ,
TransUnion ,
TransUnion LLC v Ramirez
On 21 April 2021, the 11th Circuit held that a debt collector’s transmittal of a customer’s debt-related data to a third-party letter preparation vendor without authorization stated a Fair Debt Collection Practices Act...more
On 1 April 2021, the United States Supreme Court answered the question of what type of dialing equipment qualifies as an “automatic telephone dialing system” (ATDS) under the Telephone Consumer Protection Act (TCPA), finally...more
On November 25, 2020, the Massachusetts Supreme Judicial Court (SJC) issued its opinion on a question certified from the First Circuit Court of Appeals regarding whether a mortgage servicer’s compliance with a state-mandated...more
On Thursday, the United States Supreme Court agreed to review the question of what type of dialing equipment qualifies as an “automatic telephone dialing system” (ATDS) under the Telephone Consumer Protection Act (TCPA). The...more
The Federal Communications Commission (FCC) recently issued a declaratory ruling on a petition seeking clarification of the definition of an “automatic telephone dialing system” (ATDS) under the Telephone Consumer Protection...more
The Seventh Circuit recently acted to limit the definition of “automatic telephone dialing system” (“ATDS”) under the Telephone Consumer Protection Act (“TCPA”)....more
The Massachusetts Supreme Judicial Court (“SJC”) heard argument on February 13, 2020, on whether compliance with a state-mandated default notice could, nevertheless, void foreclosure sales in Massachusetts. ...more
In 2004, the Supreme Court of Texas first addressed the issue of whether an arbitrator or a judge decides if an arbitration agreement permits (or prohibits) class arbitration....more
In their 2013 concurrence in Oxford Health Plans LLC v. Sutter, Justice Samuel Alito, joined by Justice Clarence Thomas, questioned whether absent class members “will be bound by the arbitrator’s ultimate resolution of th[e]...more
The D.C. Circuit Court of Appeals recently reaffirmed its position that a plaintiff can establish Article III standing (federal court subject matter jurisdiction) based solely on the risk of potential future harm following a...more
In Obduskey v. McCarthy & Holthus LLP, the U.S. Supreme Court held unanimously that entities engaged in no more than security-interest enforcement (here, nonjudicial foreclosure) are not debt collectors under the Fair Debt...more
“Debt buyers”—entities that purchase debt from original creditors or other downstream assignees—often view themselves as being different from “debt collectors”—entities that act to collect debts from obligors. ...more
The CFPB’s Proposed Rule to Improve its No-Action Letter Program and to Establish a Regulatory Sandbox -
Introduction -
In December of 2018, the Senate confirmed Kathy Kraninger as the second Director of the Consumer...more
The U.S. Supreme Court has issued numerous decisions over the past decade addressing arbitration agreements. In one of the Roberts Court’s first forays into the arbitration arena, the Court held that class or collective...more
Less than a week apart, the U.S. Courts of Appeals for the Tenth and Eleventh Circuits issued similar rulings regarding class arbitration. Both courts examined the question of whether the incorporation of American Arbitration...more
A panel of the Sixth Circuit recently concluded that a certain alleged violation of the Fair Debt Collection Practices Act (“FDCPA”) by itself constitutes a concrete injury-in-fact establishing Article III standing. ...more