On September 11, 2024, the Fourth Circuit Court of Appeals held that there is no publication to a third party — and therefore no Article III standing under the Fair Credit Reporting Act (FCRA) — where the recipient of a...more
9/17/2024
/ Appeals ,
Article III ,
Class Certification ,
Consumer Reports ,
Corporate Counsel ,
Fair Credit Reporting Act (FCRA) ,
Motion for Summary Judgment ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Standing ,
Third-Party
ollowing the approval and launch of Bitcoin Exchange Traded Funds (EFTs) in January 2024, the U.S. Securities and Exchange Commission (SEC) approved eight Ethereum ETFs for listing and trading on SEC-regulated exchanges on...more
On May 16, 2024, the Supreme Court reversed a Fifth Circuit decision which held that the funding for the Consumer Financial Protection Bureau (CFPB) violated the Appropriations Clause. This case was viewed as pivotal to the...more
On March 5, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rule (“Final Rule”) that would reduce credit card late fees to $8 for large credit card issuers (“Larger Card Issuers”). This rule comes on the...more
On Wednesday, January 24, 2024, the Consumer Financial Protection Bureau (CFPB) announced a Proposed Rule aimed at blocking nonsufficient funds (NSF) fees on debit card, ATM, and certain peer-to-peer payment transactions that...more
The Consumer Financial Protection Bureau ended a more than decadelong hiatus since the last formal guidance regarding Section 8 of the Real Estate Settlement Procedures Act on Feb. 7 by issuing its advisory opinion aimed at...more
The Consumer Financial Protection Bureau (CFPB) ended a more than decade-long hiatus since the last formal guidance regarding Section 8 of the Real Estate Settlement Procedures Act (RESPA) on February 7, 2023, by issuing its...more
2/10/2023
/ Advisory Opinions ,
Anti-Kickback Statute ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement ,
Mortgages ,
Online Marketplace Lending ,
Pay-To-Play ,
Real Estate Market ,
RESPA ,
Section 8 ,
Urban Planning & Development ,
Websites
On January 11, 2023, the Consumer Financial Protection Bureau (CFPB) issued a Proposed Rule that will, if adopted, require certain nonbank covered entities—including consumer reporting agencies (CRAs)—to register certain...more
On January 3, 2023, the Consumer Financial Protection Bureau (CFPB) issued its annual report of credit and consumer reporting complaints. The report contains a thorough analysis of how the nationwide consumer reporting...more
We live in the age of “Have it fast! Have it now! Have it without hassle!” At the same time customers are demanding ease in online transactions, businesses are naturally seeking to meet consumer demand while reducing...more
As insurers consider augmenting the quoting process with algorithmic predictive models, including those aided by artificial intelligence, machine learning, and/or robotic process automation (“Models”) for which core inputs...more
The Federal Trade Commission (FTC) recently published changes to data security requirements for financial institutions by revising the Safeguards Rule (Rule) under the Gramm-Leach-Bliley Act (GLBA). The law is designed to...more
A recent string of U.S. District Court decisions has clarified liability for furnishers of credit information under the Fair Credit Reporting Act (FCRA), specifically 15 U.S.C. § 1681s-2(b), in situations where consumers...more
On Friday morning, the Supreme Court issued its eagerly awaited opinion in TransUnion LLC v. Ramirez (No. 20-297). Justice Kavanaugh delivered the opinion of the Court, with which four Justices concurred; Justices Thomas,...more
6/29/2021
/ 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
With the growth of residential renewable energy power generation, driven in part by a rise in the use of Power Purchase Agreements (“PPAs”), compliance with consumer laws and regulations is critical. PPAs permit solar...more
Recently, the Consumer Financial Protection Bureau (CFPB) issued a compliance aid that addresses frequently asked questions related to the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) and the COVID-19...more
The Fair Credit Reporting Act (FCRA) can at times present a minefield for employers across industries to navigate when it comes to consumer reports used in candidate and employee background checks. The FCRA permits employers...more
As industry continues to adapt to the evolving realities of shelter-in-place orders, companies face challenges in supporting an unprecedented remote workforce while balancing compliance with a variety of regulatory agencies....more
5/4/2020
/ CARES Act ,
Centers for Disease Control and Prevention (CDC) ,
Centers for Medicare & Medicaid Services (CMS) ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Cybersecurity ,
Federal Trade Commission (FTC) ,
General Data Protection Regulation (GDPR) ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
OCR ,
Popular ,
Safe Harbors ,
World Health Organization
On March 19, 2020, the European Data Protection Board (EDPB) adopted a statement on the processing of personal data in the context of the COVID-19 outbreak. The EDPB made it clear that while the EU’s General Data Protection...more
As industry continues to adapt to the evolving realities of shelter-in-place orders, companies face challenges in supporting an unprecedented remote workforce while balancing compliance with a variety of regulatory agencies....more
4/9/2020
/ Business Interruption ,
California Consumer Privacy Act (CCPA) ,
Coronavirus/COVID-19 ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Department of Health and Human Services (HHS) ,
Enforcement Actions ,
Health Care Providers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
OCR ,
Regulatory Standards ,
Remote Working ,
Small Business ,
State of Emergency
On January 29, 2019, the U.S Court of Appeals for the Ninth Circuit (covering a number of states and territories bordering the Pacific Ocean) issued a far-reaching opinion that will likely impact the hiring process of...more
Ninth Circuit Court of Appeals interprets the FCRA -
On January 29, 2019, the Ninth Circuit Court of Appeals issued a far-reaching opinion that will likely impact the hiring process of prospective employers who conduct...more
2/19/2019
/ Background Checks ,
Consumer Reporting Agencies ,
Disclosure Requirements ,
Employer Liability Issues ,
Employment Application ,
Fair Credit Reporting Act (FCRA) ,
Hiring & Firing ,
Investigative Consumer Reporting Agencies Act (ICRAA) ,
Job Applicants ,
Putative Class Actions ,
State Labor Laws
In an April 5, 2017 unanimous opinion, the California Supreme Court (the “Court”) held that private arbitration agreements which prohibit public injunctive relief in any forum are contrary to California public policy and...more
4/14/2017
/ Arbitration Agreements ,
CA Supreme Court ,
Citibank ,
CLRA ,
Contract Terms ,
Credit Cards ,
False Advertising ,
Federal Arbitration Act ,
Injunctive Relief ,
Preemption ,
Public Policy ,
Unenforceable Contract Terms ,
Unfair Competition ,
Unfair or Deceptive Trade Practices ,
Waiver of Rights
On June 23rd, the IRS dropped a bombshell on the lending industry. As of Midnight on July 1, 2016, many lenders will no longer be able to verify directly borrower income except through snail mail. If the IRS sticks to its...more
There is little doubt that large class action lawsuits are a content aggregator’s worst nightmare. This especially holds true for those who transact significant amounts of data which may include government-created public...more