The Eleventh Circuit has joined the Second, Sixth, Seventh, Eighth, and Ninth Circuits in rejecting administrative feasibility as a prerequisite for class certification. The decision reverses unpublished Eleventh Circuit...more
In a split decision, the 11th Circuit rejected a $6,000 incentive award for the named plaintiff in a TCPA class action. According to the majority in Johnson v. NPAS Solutions, LLC, U.S. Supreme Court precedent prohibits such...more
In a split decision, the Eleventh Circuit rejected a $6,000 incentive award for the named plaintiff in a TCPA class action. According to the majority in Johnson v. NPAS Solutions, LLC, U.S. Supreme Court precedent prohibits...more
On January 29, 2020, the House passed H.R. 3621, the Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2020 (“Comprehensive CREDIT Act”). Sponsored by Rep. Ayanna Pressley (D-MA), it...more
2/7/2020
/ Consumer Financial Products ,
Consumer Reports ,
Credit Reporting Agencies ,
Credit Scores ,
Financial Regulatory Reform ,
Financial Services Industry ,
Legislative Agendas ,
Mortgages ,
Pending Legislation ,
Predatory Lending ,
Right To Appeal ,
Student Loans
The CFPB’s focus on debt collection continues. In addition to proposing changes to debt collection rules, analyzing debt collector trade lines, and filing and participating as an amicus in debt-collection litigation, the CFPB...more
The CFPB has issued its Consumer Response Annual Report, which analyzes the approximately 329,800 complaints received by the CFPB between January 1 and December 31, 2018. ...more
The FTC has issued its 2018 Consumer Sentinel Network Data Book. The report summarizes consumer complaints stored in the Consumer Sentinel Network, a secure online database....more
A unanimous three-judge panel of the U.S. Court of Appeals for the Ninth Circuit on Thursday handed the plaintiffs’ bar a resounding win. ...more
9/24/2018
/ Appeals ,
ATDS ,
Auto-Dialed Calls ,
Banking Sector ,
Financial Services Industry ,
Popular ,
Robocalling ,
Statutory Interpretation ,
TCPA ,
Telecommunications ,
Text Messages
On September 12, 2018, the Bureau of Consumer Financial Protection (the “Bureau”) issued an interim rule to update two model disclosures following the recent enactment of the Economic Growth, Regulatory Relief, and Consumer...more
On April 12, 2018, Mick Mulvaney, the Acting Director of the Consumer Financial Protection Bureau (Bureau) testified before the Senate Committee on Banking, Housing, and Urban Affairs regarding the Bureau’s Semi-Annual Report...more
4/13/2018
/ Administrative Agencies ,
Administrative Appointments ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Data Security ,
Dodd-Frank ,
Federal Vacancies Reform Act ,
Payday Lending Rule ,
Presidential Appointments ,
Regulatory Oversight ,
Senate Banking Committee ,
Trump Administration
In A.D. vs. Credit One Bank, N.A., the U.S. Court of Appeals for the Seventh Circuit reversed a district court order compelling individual arbitration of a putative class action for Credit One's alleged violations of the...more
3/28/2018
/ Appeals ,
Arbitration ,
Arbitration Agreements ,
Banking Sector ,
Class Certification ,
Consumer Contracts ,
Contract Terms ,
Debit and Credit Card Transactions ,
Motion to Compel ,
Non-Signatories ,
Putative Class Actions ,
TCPA
Fair Credit Reporting Act (FCRA) litigation has increased in 2017 and shows little sign of slowing. While a plaintiff’s actual damages may be minimal, the statute’s award of reasonable attorney’s fees and costs for a...more
The U.S. Court of Appeals for the Federal Circuit has partially lifted a preliminary injunction that prevented the U.S. Department of Education (Department) from placing defaulted student loans with private collection...more
12/15/2017
/ Appeals ,
Bid Protests ,
Borrowers ,
Collection Agencies ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Department of Education ,
Financial Institutions ,
Financial Services Industry ,
Notice of Default ,
Preliminary Injunctions ,
Student Loans
On remand from the U.S. Supreme Court, the U.S. Court of Appeals for the Ninth Circuit has held in Spokeo v. Robins that an alleged Fair Credit Reporting Act (FCRA) violation was sufficiently concrete to support Article III...more
The New Jersey Legislature is considering a law to restrict prepaid-account fees. Assembly Bill 4965 ( the NJ Bill) seeks to impose fee constraints, disclosure mandates, and limits on consumer liability for unauthorized...more
An $11.7 million judgment awarded against credit reporting company Experian in a 69,000-member class action brought under the federal Fair Credit Reporting Act (FCRA) was vacated by the Fourth Circuit in Dreher v. Experian...more
The CFPB recently submitted an amicus brief to the Eighth Circuit, arguing that a debt collector cannot avoid liability under the FDCPA when it falsely represents the amount of a debt to a consumer’s attorney, rather than to...more
The Nevada Supreme Court has upheld the constitutionality of Nevada's pre-2015 statutory scheme for homeowners association (HOA) foreclosures. This decision contradicts the Ninth Circuit Court of Appeals' conclusion that the...more
2/6/2017
/ Appeals ,
Banking Sector ,
Beneficiaries ,
Deed of Trust ,
Due Process ,
Foreclosure ,
Fourteenth Amendment ,
Homeowners Association (HOA) ,
Mortgage Lenders ,
Mortgages ,
Motion to Dismiss ,
NV Supreme Court ,
Takings Clause ,
Wells Fargo
The 11th Circuit has clarified that the Fair Credit Reporting Act (FCRA) requires furnishers of credit information—like their credit reporting agency (CRA) counterparts—to conduct "reasonable" investigations of consumer...more
A borrower recently filed a putative class action against Fannie Mae under the Fair Credit Reporting Act (FCRA) in federal court in Washington, D.C., alleging that Fannie engaged in unauthorized inquiries into borrowers'...more
In an issue of first impression, the Supreme Court of New York refused to find a loan servicer violated Regulation X by initiating foreclosure when a borrower failed to strictly comply with the servicer’s instructions for...more
The CFPB filed a lawsuit against two law firms, The Mortgage Law Group, LLP (MLG) and Consumer First Legal Group, LLC (CFLG), who provided foreclosure assistance to their clients. See CFPB v. The Mortg. Law Grp., Case No....more
Approximately 50 cases have been filed recently in Nevada state and federal courts against furnishers of information and credit reporting agencies (CRAs) for alleged Fair Credit Reporting Act (FCRA) violations. It appears...more
10/12/2015
/ Cause of Action Accrual ,
Consumer Bankruptcy ,
Consumer Complaint Management ,
Consumer Financial Products ,
Credit Cards ,
Credit Reporting Agencies ,
Credit Reports ,
Debt ,
Dischargeable Debts ,
Fair Credit Reporting Act (FCRA) ,
Financial Institutions
While an amended Nevada Senate bill does not change the Nevada Supreme Court’s seminal holding that an association lien is a true priority lien that, when properly foreclosed, may extinguish a first deed of trust, the new law...more
In U.S. Bank, N.A. v. Palmilla Development, Co., Inc., the Nevada Supreme Court recently confirmed that a receiver’s sale is a form of foreclosure sale that triggers a secured party’s right to a deficiency judgment. This...more