The CFPB and Credit Repair Cloud, have reached agreement over allegations that the firm helped other credit repair businesses charge illegal fees to consumers....more
8/22/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Enforcement Actions ,
Financial Institutions ,
Financial Services Industry ,
Hidden Fees ,
Settlement ,
Telemarketing ,
Telemarketing Sales Rule ,
Unfair or Deceptive Trade Practices
A Pennsylvania federal judge has imposed sanctions and lambasted a law firm and its attorneys for having employees write falsified letters on behalf of clients involved in debt collection disputes....more
8/21/2024
/ Consumer Financial Products ,
Debt ,
Debt Collection ,
Debt Collectors ,
Employees ,
FDCPA ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Sanctions ,
Written Communications
Unsigned Terms and Conditions found in a preprinted car rental jacket are part of the contract between the parties under Florida, Arizona and Colorado law because they were properly incorporated by reference into the signed...more
The FTC has shut down Michigan-based Financial Education Services, a credit repair company that the agency says actually was a large pyramid scheme...more
New Federal Communications Commission TCPA rules will mean big changes for businesses, particularly comparison shopping websites, lead generators, and other companies that regularly contact consumers via phone or text...more
By a vote of 4-1, the Federal Communication Commission (FCC) adopted a new rule amending its regulations implementing the Telephone Consumer Protection Act (TCPA) to close what it refers to as the “lead generator loophole.” ...more
12/15/2023
/ Advertising ,
Call Blocking ,
Consumer Privacy Rights ,
Corporate Counsel ,
Do Not Call List ,
FCC ,
Financial Services Industry ,
Lead Generators ,
Marketing ,
Opt-In ,
Policies and Procedures ,
Prior Express Consent ,
Robocalling ,
TCPA ,
Telecommunications ,
Telemarketing ,
Text Messages
In recent months, debt relief law firms have mailed volumes of cease and desist letters, credit reporting disputes, and debt validation requests to creditors. These mailings, which are typically lacking in credibility, place...more
In Wakefield v. ViSalus, Inc., the Ninth Circuit considered whether a jury verdict of $925,200,000 for cumulative statutory damages under the Telephone Consumer Protection Act, 47 U.S.C. § 227 (“TCPA”) was constitutional in...more
On May 20, Oklahoma Governor Kevin Stitt signed into law House Bill No. 3168 which imposes new limits on the use of automated dialing systems. The new law, titled the “Telephone Solicitation Act of 2022” (Act), takes effect...more
On June 29, Florida Governor DeSantis signed into law CS/SB 1120 which amends Florida law to impose new limits on the use of “automatic dialers.” The law is effective today, July 1....more
In Allan v. Pa. Higher Educ. Assistance Agency, the U.S. Court of Appeals for the Sixth Circuit held that the Telephone Consumer Protection Act’s (TCPA) statutory definition of an automatic telephone dialing system (“ATDS”)...more
The American Arbitration Association (AAA) and its international division, the International Centre for Dispute Resolution (ICDR) announced that no hearings will take place in AAA-ICDR hearing facilities until at least April...more
On September 19, 2018, the Georgia based Cooperative Baptist Fellowship (the “Fellowship”) filed a motion to intervene as a defendant in a case filed by the Community Financial Services Association of America Ltd. and the...more
10/2/2018
/ Abusive Acts ,
Article III ,
Constitutional Challenges ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Fair Lending ,
Financial Services Industry ,
Internet Lenders ,
Motion To Intervene ,
Online Marketplace Lending ,
Payday Lending Rule ,
Payday Loans ,
Rulemaking Process ,
Standing
U.S. Senators Mark R. Warner (D-VA) and Mike Rounds (R-SD) introduced federal legislation on August 28, 2018, that would expand access to mortgages to the self-employed, gig workers, and other creditworthy individuals with...more
On June 26, 2018, the Federal Trade Commission and New York Attorney General’s Office filed a lawsuit against a debt broker, debt collector and their principals to shut down a phantom debt collection scheme. ...more
This week's ruling of the U.S. Court of Appeals for the Third Circuit in Dominguez v. Yahoo, Inc. (Dominguez II) represents the first circuit court decision to address the Telephone Consumer Protection Act's (TCPA)...more
Businesses that have not already done so should consult with counsel regarding "consent to be called" provisions in their consumer contracts in the wake of the decision by the U.S. Court of Appeals for the Second Circuit...more
On September 12, 2017, Director Cordray appeared as the keynote speaker at the Seventh Annual Ohio Land Bank Conference. Director Cordray’s appearance came on the heels of his speech at the Cincinnati AFL-CIO Labor Day...more
An Illinois federal judge ordered Dish Network to pay the federal government $168 million for violating the FTC’s Telephone Sales Rule (“TSR”). The judgment is the largest civil penalty ever obtained for a violation of the...more
The Federal Communications Commission (FCC) has denied the petition filed by the Mortgage Bankers Association (MBA) seeking an exemption from the prior express consent requirement of the Telephone Consumer Protection Act...more
12/30/2016
/ ATDS ,
Banking Sector ,
Cell Phones ,
Exemptions ,
FCC ,
Financial Institutions ,
Mobile Devices ,
Mortgage Bankers Association ,
Mortgage Servicers ,
Mortgages ,
Prior Express Consent ,
Robocalling ,
TCPA ,
Wireless Industry
A federal district court in Illinois recently dismissed a putative class action against a foreclosure firm, holding that an allegation in a foreclosure complaint that the mortgagor is personally liable for any deficiency on a...more
While California does not permit pre-dispute jury trial waivers, jury trial waivers are enforceable in many states. The U.S. District Court for the Southern District of Florida recently held in Thompson v. Caliber Home Loans,...more
On March 10th, the CFPB held a public field hearing in Newark, New Jersey to address the release of its arbitration report to Congress. The event featured opening remarks from Director Richard Cordray, as well as commentary...more
The U.S. District Court for the Eastern District of Pennsylvania has held that the failure to create and record written instruments evidencing assignments of mortgages and transfers of promissory notes secured by mortgages on...more
In a 2-1 decision, the U.S. Court of Appeals for the Sixth Circuit vacated a class action settlement approval and certification of a settlement class that treated the named plaintiffs far more favorably than the other class...more