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CFPB’s Proposed Rule Banning Use of Pre-Dispute Arbitration Agreements to Block Consumer Class Actions Signals New Wave of Class...

On May 5, the Consumer Financial Protection Bureau (CFPB or Bureau) published a proposed rule which would prohibit application of pre-dispute arbitration agreements to class litigation involving a broad range of consumer...more

Consumer Finance Rule Will Ban Use of Pre-Dispute Arbitration Agreements

If you've ever read the fine print in your credit card agreement, there is a good chance it states you agree to arbitrate any claims and waive the right to bring a class action against the bank that issued it. Such class...more

CFPB Publishes Proposed Rule Banning Pre-Dispute Arbitration Agreements in Consumer Class Actions

This week, the Consumer Financial Protection Bureau (CFPB or Bureau) published a proposed rule which would prohibit application of pre-dispute arbitration agreements to class litigation involving a broad range of consumer...more

Legal Challenge to FCC’s TCPA Omnibus Ruling Ready for Court Decision

The FCC’s July 2015 Omnibus Ruling ("the Ruling") interpreting certain provisions of the Telephone Consumer Protection Act (TCPA) has been widely denounced by business interests for its expansive interpretation of the...more

Congress Considers Changes to FCRA to Expand Consumer Credit Files and Limit Use of Credit Reports for Employment Decisions

The Fair Credit Reporting Act (FCRA) regulates consumer reporting agencies (CRAs) and the use of consumer reports. The FCRA’s stated purpose includes requiring CRAs to adopt reasonable procedures for meeting the needs of...more

CFPB and DOJ Continue Enforcement Orders Against Indirect Auto Lenders Based on Discriminatory Loan Pricing Policies

In February the Consumer Financial Protection Bureau and Department of Justice announced entry of a consent order with Toyota Motor Credit, the U.S. financing arm of Toyota Motors’ subsidiary Toyota Financial Services. The...more

Split Florida Court Withdraws Beauvais Opinion to Hold that Dismissal Without Prejudice of Foreclosure Action Does Not Bar Second...

After a rare en banc oral argument, the court withdrew its earlier opinion and released a new en banc decision holding that dismissal of a foreclosure action accelerating payment on one default does not time-bar a subsequent...more

CFPB Issues Compliance Bulletin Clarifying Expectations on Furnisher Obligations Under the Fair Credit Reporting Act

The Consumer Financial Protection Bureau has issued CFPB Compliance Bulletin 2016-01, which "emphasize[s] the obligation of furnishers under Regulation V[1] to establish and implement reasonable written policies and...more

CFPB and DOJ Enter Fourth Enforcement Order Against Indirect Auto Lender Based On Discriminatory Loan Pricing Policies

On February 2, the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) announced entry of a consent order against Toyota Motor Credit (TMC), the U.S. financing arm of Toyota Motors' subsidiary Toyota...more

eCommerce Regulation, Bitcoin, Anti-Money Laundering, Shadow Insurance, 401(k) Litigation [Expect Focus – Vol. IV, Fall 2015]

IN THE SPOTLIGHT - - California Passes Life and Annuity Electronic Transactions Law LIFE INSURANCE - - Under a Spotlight, "Shadow Insurance" Lawsuit Fails Scrutiny - NAIC Evaluates Insurer’s Use of Variable...more

Mortgage Servicing Complaints to CFPB Remain High

The CFPB’s September “consumer complaints snapshot” highlighted mortgage servicing complaints, in particular those related to loss mitigation applications. As the mortgage market is the largest consumer financial market place...more

CFPB Proposes Banning Use of Pre-Dispute Arbitration Agreements in Consumer Class Actions

The CFPB has proposed prohibiting application of pre-dispute arbitration agreements to class litigation involving certain consumer financial products. Citing concerns that such agreements “effectively prohibit” class...more

Consumer Bankers Association, Chamber of Commerce Join Challenge to FCC TCPA Ruling

The Consumer Bankers Association (CBA) and United States Chamber of Commerce (USCC) have joined the legal challenge to the Federal Communications Commission’s July declaratory ruling and order. The Order responded to 21...more

CFPB Orders "Buy-Here, Pay-Here" Auto Dealer and Affiliate to Pay $6.5 Million for FCRA and CFPA Violations

Last week, the Consumer Financial Protection Bureau (“CFPB” or “the Bureau”) filed a consent order against “buy-here, pay-here” (BHPH) auto dealer Interstate Auto Group d/b/a Car Hop (“Car Hop”), and its affiliated financing...more

Florida State Court Holds Pizzerias Liable Under TCPA for Third-Party Fax Blasts

Based on the Eleventh Circuit's 2015 decision in Sarris v. Palm Beach Golf Ctr. Boca, Inc, a Florida state appellate court has held that using a third-party company to send unauthorized fax ads will not protect the company...more

As TCPA Class Actions Soar, Issues Emerge in TCPA Coverage for Claims

Both the number of cases under the Telephone Consumer Protection Act (TCPA) and the types of practices that those cases challenge have mushroomed within the last several years. Yet a dedicated form of insurance against TCPA...more

House Passes Bill Challenging CFPB Indirect Regulation of Auto Dealers

On November 18, the House passed HR 1737, entitled the “Reforming CFPB Indirect Auto Financing Guidance Act,” with wide bi-partisan support. The proposed legislation challenges the legality of the Consumer Financial...more

CFPB Latest Complaint Snapshot Highlights Bank Account Service Complaints, Complaint Trends in Connecticut

The Consumer Financial Protection Bureau (CFPB or "Bureau")'s November complaint snapshot ("Snapshot") released last week focuses on complaints about bank and other deposit account services, and trends in complaints from...more

Courts Consider Definition of Autodialer and Standing under the Telephone Consumer Protection Act after FCC Ruling

In July, the FCC issued its omnibus ruling responding to 21 petitions seeking exemptions or clarification of certain provisions of the Telephone Consumer Protection Act (TCPA). The ruling addresses the statutory definition of...more

11/23/2015  /  ATDS , FCC , Prior Express Consent , Robocalling , TCPA

CFPB Proposes Banning Use of Pre-Dispute Arbitration Agreements in Consumer Class Actions

The Consumer Financial Protection Bureau (CFPB or Bureau) announced today that it is considering rules prohibiting application of pre-dispute arbitration agreements to class litigation involving certain consumer financial...more

Telecommunications Giant Hit With TCPA Treble Damages Award For Calls to Reassigned Cell Number

The Telephone Consumer Protection Act (TCPA) prohibits non-emergency calls to cell phone numbers using automatic telephone dialing systems (ATDS) or prerecorded voice messages absent the called party’s prior express consent....more

CFPB Reports Continued Mortgage Servicing and Other Violations of Consumer Financial Law

In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more

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