Mark J. Furletti

Mark J. Furletti

Ballard Spahr LLP

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Supreme Court Denies Certiorari To Review Second Circuit’s Decision in Madden v. Midland Funding, LLC

The U.S. Supreme Court has denied certiorari to review the decision of the U.S. Court of Appeals for the Second Circuit in Madden v. Midland Funding, LLC. As previously reported, Madden involved a putative class action...more

6/28/2016 - Banking Sector Debt Buyers FDCPA Financial Services Industry Interest Rates Madden v Midland Funding National Bank Act Online Marketplace Lending Petition for Writ of Certiorari Preemption Putative Class Actions SCOTUS Solicitor General Usury

FTC Backs FCC’s Proposed Rule on TCPA Amendments for Calls Collecting Government Debt

The Federal Trade Commission's (FTC) Bureau of Consumer Protection issued a Staff Comment on June 16, 2016, supporting several of the Federal Communication Commission's (FCC) proposed regulations implementing amendments to...more

6/22/2016 - Corporate Counsel Debt Collection FCC Federal Loans FTC Loans Prior Express Consent TCPA

Regulators Raise Marketplace Lending Concerns at FTC FinTech Forum

The Federal Trade Commission (FTC) recently held a FinTech forum addressing marketplace lending. The forum was promoted by the FTC as the first in a series it plans to hold exploring emerging financial technology and its...more

6/21/2016 - Banking Sector Consumer Financial Products Consumer Lenders ECOA FCRA Financial Services Industry FinTech FTC Innovative Technology Online Marketplace Lending Popular

Modernize TCPA, ACA International Urges in White Paper

In a new white paper, ACA International, a trade association for members of the credit and collection industry, argues that the Telephone Consumer Protection Act (TCPA) must be modernized to accurately reflect the current...more

6/8/2016 - ATDS Debt Collection FCC Financial Sector Right to Privacy Robocalling TCPA Telecommunications Telemarketing Unsolicited Phone Calls White Paper

Solicitor General/OCC Opine Madden Was Incorrectly Decided, But Recommend Denial of Supreme Court Review

In a widely anticipated brief requested by the U.S. Supreme Court, the Solicitor General and the Office of the Comptroller of the Currency (OCC) have expressed the view of the United States that the Court should deny the...more

5/27/2016 - Banking Sector Debt Buyers Financial Services Industry Interest Rates Madden v Midland Funding National Bank Act OCC Online Marketplace Lending Preemption SCOTUS Solicitor General Usury

TCPA Under Scrutiny in Court and by Senate

The Telephone Consumer Protection Act (TCPA) and a 2015 omnibus Declaratory Ruling and Order (2015 Order) interpreting the TCPA issued by the Federal Communications Commission (FCC) have recently faced additional challenges...more

5/25/2016 - ATDS Congressional Investigations & Hearings Declaratory Judgments FCC First Amendment Free Speech Legislative Committees Political Campaigns TCPA

Treasury Releases White Paper on Online Marketplace Lending

The U.S. Treasury Department has released a white paper addressing the online marketplace lending industry. Based in part on the responses to Treasury's July 2015 Request for Information (RFI), the white paper offers a broad...more

5/16/2016 - Community Development Entities Consumer Lenders Financial Sector Financial Services Industry Loans Online Marketplace Lending Peer-to-Peer Request For Information Small Business Transparency U.S. Treasury White Paper

FCC’s Proposed Regulations Would Gut TCPA Exception for Debts Owed to or Guaranteed by U.S.

The Bipartisan Budget Act of 2015 (Act) amended the Telephone Consumer Protection Act (TCPA) to remove the prior express consent requirement for calls ''made solely to collect a debt owed to or guaranteed by the United...more

5/13/2016 - ATDS Banking Sector Bipartisan Budget Cell Phones Comment Period Debt Collection FCC Federal Loans Mortgages NPRM Prior Express Consent TCPA

Best Practices Issued for Small Business Alternative Finance Industry

The Small Business Finance Association (SBFA) has issued "Small Business Finance Principles" that represent best practices for providers of merchant cash advances (MCA) and other companies in the alternative finance industry...more

4/20/2016 - Best Practices Commercial Loans Financing Professional Responsibility Small Business Transparency

TCPA Exemption for Collection of Federal Debts Applies Retroactively, CA Federal Court Rules

The new Telephone Consumer Protection Act (TCPA) exemption for calls made to cellular numbers to collect debts owed to or guaranteed by the United States applies retroactively to calls made before the exemption's effective...more

4/18/2016 - ATDS Bipartisan Budget Cell Phones Debt Collection Exemptions FCC Federal Loans Federal Student Loans Popular Retroactive Application TCPA

Third Circuit Follows Gomez on Mootness Issue, But Narrowly

In the wake of the U.S. Supreme Court's holding in Campbell-Ewald Company v. Gomez that an unaccepted Rule 68 offer of complete relief does not moot a plaintiff's individual claims, the U.S. Court of Appeals for the Third...more

4/8/2016 - Article III Campbell Ewald v Gomez Class Action Class Representatives Genesis Healthcare Corp. v. Symczyk Mootness Rule 68 SCOTUS Settlement Offer Standing TCPA

FDIC Developing Guidance on Risks For Banks Lending Through Third Parties

New guidance being developed by the Federal Deposit Insurance Corporation (FDIC) to address risks associated with banks making loans through third parties could significantly impact marketplace lending, private label credit...more

3/24/2016 - Banks Consumer Lenders FDIC New Guidance OIG Online Marketplace Lending Third-Party Risk

FCC Chairman Previews Proposed Regulations for Implementing New TCPA Exemptions

A recent letter from Federal Communications Commission (FCC) Chairman Tom Wheeler describes the regulations being considered by the FCC for implementing new Telephone Consumer Protection Act (TCPA) exemptions for calls made...more

3/16/2016 - Auto-Dialed Calls Corporate Counsel Debt Collection Exemptions FCC IRS NPRM Popular Prior Express Consent Robocalling TCPA

Creditor Can Obtain TCPA "Prior Express Consent" Through Intermediary, Sixth Circuit Rules

A creditor that received a consumer's cell phone number through an intermediary had the consumer's ''prior express consent'' under the Telephone Consumer Protection Act (TCPA) to receive calls from a debt collector, the U.S....more

2/29/2016 - Auto-Dialed Calls Cell Phones Corporate Counsel Debt Collection FCC Health Care Providers Popular Prior Express Consent Putative Class Actions Summary Judgment TCPA

Owner of Payday Lenders, Attorney Hit with Federal Criminal Indictment

A man alleged to be the owner and operator of a group of payday-lending companies and an attorney alleged to have submitted false affidavits and structured sham arrangements have been indicted by a federal grand jury in New...more

2/15/2016 - Banking Sector Indictments Native American Issues Payday Loans Regulation Z RICO Sovereign Immunity Tribal Loans Truth in Lending Act (TILA)

FDIC Highlights Marketplace Lending Risks for Bank Partners

The Federal Deposit Insurance Corporation's (FDIC) publication of an article highlighting the risks for banks that partner with marketplace lenders further underscores the focus of federal regulators on marketplace lending....more

2/10/2016 - Anti-Money Laundering Banks Due Diligence FDIC Financial Services Industry Online Marketplace Lending Popular Risk Management

Ninth Circuit Rejects Attempt to Challenge FCC Order on TCPA

In an unpublished opinion, the U.S. Court of Appeals for the Ninth Circuit recently affirmed summary judgment for the defendant in a Telephone Consumer Protection Act (TCPA) case, refusing to entertain the plaintiff’s...more

2/10/2016 - ATDS FCC Prior Express Consent Putative Class Actions Summary Judgment TCPA Text Messages

DOJ Settles Action Alleging Bank Discriminated Against Disability Income Recipients

The U.S. Department of Justice recently entered into a consent order with Evolve Bank & Trust to settle charges that the bank discriminated against mortgage loan applicants on the basis of disability and receipt of public...more

2/3/2016 - Banking Sector Consent Order Disability Discrimination DOJ ECOA Fair Housing Act (FHA) Mortgage Lenders Qualified Settlement Funds

PA Federal Court Ruling Illustrates Need for Lenders to Properly Structure Bank Partnerships

A recent federal court decision refusing to dismiss Pennsylvania racketeering claims against companies alleged to have partnered with a state bank to market Internet loans illustrates the risks inherent in these relationships...more

1/28/2016 - Banking Sector Online Marketplace Lending Preemption Racketeering

Maryland Licensing Threat to Bank Partner Model to be Reviewed by Court of Appeals

The Maryland Court of Appeals, the state’s highest appellate court, last week agreed to review an October 2015 Maryland Court of Special Appeals (MCSA) decision that illustrated how the bank partner structure used by many...more

12/23/2015 - Appeals Banking Sector CashCall Debt Collection Online Marketplace Lending

California Launches Marketplace Lending, Merchant Cash Advance Inquiry

The recent announcement by the California Department of Business Oversight (DBO) that it has launched an inquiry into the marketplace lending industry represents an important development that could presage increased industry...more

12/22/2015 - Consumer Lenders Department of Business Oversight Online Marketplace Lending Regulatory Agenda Small Business

DOJ Settles Fair Lending Claims Based on Bank’s Mortgage Pricing System

The U.S. Department of Justice (DOJ) has announced a proposed consent order with Sage Bank to settle charges that the bank violated the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA) by discriminating on...more

12/7/2015 - Consent Order DOJ ECOA Fair Housing Act (FHA) Mortgage Lenders Race Discrimination

CFPB issues compliance bulletin on preauthorized electronic payments

The CFPB has issued a compliance bulletin (Bulletin 2015-06) concerning the Electronic Fund Transfer Act (EFTA) and Regulation E requirements for obtaining a consumer’s authorization for preauthorized electronic fund...more

11/25/2015 - CFPB Compliance E-SIGN EFTA Electronic Fund Transfer Act Regulation E

Colorado Supreme Court Ruling That Litigation Financing is a Loan Could Have Broader Reach

The Colorado Supreme Court has ruled that two litigation financing programs are non-recourse “loans,” not purchases, and therefore subject to licensing and other requirements of the state’s Uniform Consumer Credit Code...more

11/23/2015 - CO Supreme Court Financial Sector Financing Non-Recourse Loans

FTC Finalizes Rule Banning Telemarketer Use of Remotely Created Payments

The Federal Trade Commission (FTC) has finalized changes to its telemarketing sales rule (TSR) that will prohibit sellers and telemarketers from creating or accepting remotely created payment orders or checks, cash-to-cash...more

11/23/2015 - Consumer Fraud FTC Popular RCPOs Telemarketing Sales Rule Unfair or Deceptive Trade Practices

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