Mark J. Furletti

Mark J. Furletti

Ballard Spahr LLP

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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

“Human Intervention” Precludes ATDS Classification under New FCC TCPA Order, California Federal District Court Holds

In a memorandum opinion, the U.S. District Court for the Central District of California recently held that the defendant’s manual use of a desktop telephone was not subject to liability under the new Federal Communications...more

11/16/2015 - ATDS Do Not Call List FCC Prior Express Consent TCPA

Bipartisan Budget Act Creates New TCPA Exemptions

Prior to the amendment, these calls would have been prohibited absent the recipient’s prior express consent if placed to a cellular telephone and if they were made by an automatic telephone dialing system or included an...more

11/9/2015 - Bipartisan Budget Cell Phones Corporate Counsel Debt Collection Prior Express Consent Robocalling TCPA

Commerce Clause Does Not Prevent Minnesota from Regulating Internet Loans Made to State Residents, Minnesota Supreme Court Rules

The Minnesota Supreme Court has ruled that the Commerce Clause of the U.S. Constitution does not preclude Minnesota from applying its payday lending law to loans consummated in Delaware that are made to Minnesota residents...more

10/30/2015 - Banking Sector Commerce Clause Consumer Financial Products Consumer Lenders Financial Institutions Home State Exception Online Marketplace Lending Online Platforms Payday Loans Websites

FCC Issues Citations for Violations of TCPA Consent Requirement for Autodialed or Prerecorded Telemarketing Calls

The Federal Communications Commission (FCC) recently issued citations to two companies charged with violating the Telephone Consumer Protection Act (TCPA) consent requirements for autodialed or prerecorded calls to wireless...more

9/21/2015 - Apple Pay Banking Sector Banks Cell Phones Class Action Disclosure Requirements FCC Online Banking Opt-Outs Prior Express Consent Right to Privacy Robocalling Smartphones TCPA Telecommunications Telemarketing

Federal Reserve Bank of Cleveland Reports on Online Small Business Lending Focus Groups

The Federal Reserve Bank of Cleveland recently issued a special report on the results of online focus groups it conducted with the Federal Reserve Board “to better understand small businesses’ perceptions of online...more

9/4/2015 - Borrowers Consumer Lenders Cyber Threats Cybersecurity Data Breach Data Security Federal Reserve Financial Institutions Loans Online Marketplace Lending Popular Privacy Concerns Request For Information Small Business

11th, 6th Circuits Rule on TCPA Consent for Autodialed Calls to Cell Phones

The U.S. Courts of Appeals for the 11th and Sixth Circuits recently issued two rulings regarding when a consumer has given “prior express consent” under the Telephone Consumer Protection Act (TCPA) to receive text messages or...more

9/3/2015 - Appeals Cell Phones FCC Hobbs Act Loan Modifications Prior Express Consent Reasonable Expectation of Privacy Right to Privacy Robocalling TCPA Telecommunications Telemarketing Text Messages Unsolicited Phone Calls

The Next EFTA Class Action Wave Has Started

A new type of Electronic Funds Transfer Act (EFTA) class action is now being filed in volume. This trend is highly likely to continue, as the cases are being filed by a consumer class action firm that has filed hundreds of...more

9/2/2015 - Banking Sector Banks Class Action Debit and Credit Card Transactions EFTA Financial Institutions TCPA Written Consent

Treasury Department Extends Comment Period for Online Marketplace Lending Information Request

The U.S. Department of the Treasury has extended the deadline for submitting comments in response to its request for information (RFI) regarding online marketplace lending. Initially set to close on August 31, 2015, the...more

8/20/2015 - Consumer Lenders Financial Institutions Financial Regulatory Reform Internet Lenders Request For Information U.S. Treasury

FCC Fines Companies $2.96 Million for TCPA Robocall Violations, Adopts New Interpretations

The Federal Communications Commission (FCC) has recently taken two significant actions addressing robocalls under the Telephone Consumer Protection Act (TCPA)—the imposition of a $2.96 million fine and the adoption of new...more

8/17/2015 - Cell Phones Do Not Call List FCC Popular Prior Express Consent Private Right of Action Right to Privacy Robocalling Smartphones TCPA Telecommunications

Eighth Circuit: Purpose, Not Content, Determines TCPA Coverage of Calls as “Telemarketing”

Phone calls made to promote a movie constituted “telemarketing” under the Telephone Consumer Protection Act (TCPA) even though the two prerecorded messages left on the plaintiffs’ home phone line made no reference to the...more

7/30/2015 - Article III Class Action Corporate Counsel Do Not Call List Popular Putative Class Actions Robocalling SCOTUS Spokeo Spokeo v Robins Standing TCPA Telemarketing

Treasury Department Seeks Information on Online Marketplace Lending

The U.S. Department of the Treasury has issued a request for information (RFI) regarding online marketplace lending. The RFI reflects the Treasury Department’s recognition that online marketplace lending “is a rapidly...more

7/21/2015 - CFPB Dodd-Frank Financial Institutions Lending Loans Online Marketplace Lending Popular Request For Information U.S. Treasury

FCC Order Creates New TCPA Challenges for Companies

As previously reported, the Federal Communications Commission recently approved a Declaratory Ruling and Order (the Order) addressing a number of petitions that requested the FCC clarify its interpretations of the Telephone...more

7/14/2015 - Auto-Dialed Calls Collection Agencies Debt Collection Declaratory Rulings Exemptions FCC Financial Institutions Healthcare Prior Express Consent Revocation TCPA Telemarketing Text Messages

OCC Report Identifies Risks to Banks, Sets Supervisory Priorities

A new report issued by the federal Office of the Comptroller of the Currency (OCC) identifies top safety and soundness risks to national banks and federal savings associations, as well as OCC supervisory priorities for the...more

7/13/2015 - Banking Regulators Banking Sector Banks BSA/AML Chief Compliance Officers Compliance Depository Institutions OCC Risk Assessment Supervision

FCC Approves TCPA Clarifications that Increase Potential for Liability

The Federal Communications Commission, in a divided vote, approved an order clarifying several long-simmering Telephone Consumer Protection Act (TCPA) issues. While the order has not been officially released, the...more

6/22/2015 - ATDS FCC Prior Express Consent Robocalling TCPA

FCC Chairman Releases Proposed TCPA Declaratory Rulings

Federal Communications Commission (FCC) Chairman Tom Wheeler has issued a fact sheet describing his proposed declaratory rulings on various issues involving the FCC’s interpretation of the Telephone Consumer Protection Act...more

6/3/2015 - FCC TCPA

Report from SBREFA Panel on Payday, Title and Installment Loans

Wednesday, I had the opportunity to participate as an advisor to a small entity representative (“SER”) at the small business review panel on payday, title and installment loans. The meeting was held in the Treasury Building’s...more

5/1/2015 - CFPB Information Reports Installment Agreements Payday Loans Retail Installment Sales Contracts SBREFA Small Business Title Loans

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