Conflict of Laws Finance & Banking Consumer Protection

Read Conflict of Laws updates, alerts, news, and analysis from leading lawyers and law firms:
News & Analysis as of

CFPB bootstraps purported state law violations into attack on online payday lending companies

The CFPB has broken new ground in an attack in Massachusetts federal court against CashCall, several related companies and their principal. The companies funded, purchased, serviced and collected online payday loans made by a...more

Fifth Circuit Holds State AG Credit Card Add-On Suit Not Subject To Federal Jurisdiction

On December 2, the U.S. Court of Appeals for the Fifth Circuit held that a set of parens patriae suits filed by the Mississippi Attorney General (AG) against credit card issuers is not subject to federal jurisdiction under...more

When the FDCPA and the Bankruptcy Code Conflict: Which Controls?

As most lenders and banking litigators understand, courts construe the language of the Fair Debt Collection Protection Act (FDCPA) very broadly. As we have discussed in previous posts, an initial communication to collect a...more

Infobytes Special Alert: CFPB Issues Mortgage Servicing Rule Amendments And Guidance Addressing Conflicts With Bankruptcy And Debt...

On October 15, 2013, the Consumer Financial Protection Bureau (“CFPB”) issued an interim final rule amending certain provisions of its mortgage servicing rules and making technical changes to other January 2013 mortgage rules...more

Dodd-Frank News: July 2013: Dodd-Frank Wall Street Reform And Consumer Protection Act Update

In This Issue: - Recent Cases ..Dodd-Frank Act Amendments to RESPA ..Amendments to Preemption Standards ..Whistleblower Protection ..SEC Final Rule Pursuant to Dodd-Frank Act Vacated ...more

Ninth Circuit Affirms Preemption Of State Law Claims Asserting National Bank Mislead Consumers By Failing To Make Material...

On May 22, the U.S. Court of Appeals for the Ninth Circuit affirmed a district court’s holding that the National Bank Act (NBA) preempts state disclosure requirements on a bank’s deposit-related activities. Robinson v. Bank...more

Dodd-Frank News - May 2013: Dodd-Frank Wall Street Reform And Consumer Protection Act Update

In This Issue: - Introduction - Recent Cases ..Amendments to Preemption Standards ..TILA Statute of Limitations ..Dodd-Frank Amendments to RESPA ..Whistleblower Protection ..Say-on-Pay...more

CFPB Issues Final Preemption Determination For Maine, Tennessee Unclaimed Gift Card Laws

On April 19, the CFPB issued a final preemption determination regarding whether the Electronic Fund Transfer Act (EFTA) and Regulation E preempt certain unclaimed gift card laws in Maine and Tennessee. The EFTA, as...more

Spotlight on Unclaimed Property: CFPB Rules That Federal Law Preempts Tennessee's Unclaimed Property Statute Applicable to Gift...

In its first preemption determination, on April 19, 2013, the Consumer Financial Protection Bureau (CFPB) ruled that Tennessee's unclaimed property statute provisions applicable to gift cards are preempted by federal law. The...more

CFPB issues first preemption determinations

Last week, the CFPB issued final determinations as to whether certain Maine and Tennessee laws relating to unclaimed gift cards are preempted by federal law on gift card expiration dates. The rulings represent the CFPB’s...more

CFPB Uses Novel Interpretation, Increases Compliance Burden for Gift Card Issuers Through its First Preemption Determination

On April 19, 2013, the Consumer Financial Protection Bureau (“CFPB”) announced it was making a determination to preempt a provision of Tennessee unclaimed property law that it deemed inconsistent with the federal Electronic...more

ABA seeks broad CFPB preemption ruling

In August, the CFPB issued a notice seeking public comment on its plans to determine whether certain provisions of Maine and Tennessee laws relating to unclaimed gift cards are preempted by federal law on gift card expiration...more

Missouri District Court Holds State Funds Transfer Act Preempts Certain Customer Indemnity Agreements

On August 20, the U.S. District Court for the Western District of Missouri dismissed a bank’s counterclaims that its customer’s agreement to indemnify the bank for any losses, costs, or expenses covers the customer’s losses...more

CFPB to Determine Whether CARD Act Preempts State Unclaimed Property Laws

The Consumer Financial Protection Bureau (CFPB) recently announced its intention to consider and address requests made by the Maine Office of the State Treasurer and payment card industry representatives to determine whether...more

Summary of CFPB Notice of Intent for Gift Card Preemption Determinations

On August 21, 2012, the Consumer Financial Protection Bureau (“CFPB”) published a notice of intent to make a preemption determination on whether provisions of abandoned property laws in Maine and Tennessee relating to gift...more

Tenth Circuit Permits Trade Group Challenge to New Mexico Fair Credit Reporting Act

On May 7, the U.S. Court of Appeals for the Tenth Circuit published an opinion that a trade group has standing to sue the Attorney General of New Mexico over that state’s credit reporting and identify theft requirements....more

OCC and OTS: Policy Integration

On December 8, 2011, the Office of the Comptroller of the Currency (OCC) issued a bulletin that outlines the process which the OCC intends to follow to fully integrate the Office of Thrift Supervision (OTS) policy guidance...more

Do the Principles of European Insurance Contract Law Go Too Far in Protecting the Policyholder?

The objective of this article is to analyse the PEICL with respect to the question of whether the policyholder is protected too radically, studying the differences of the PEICL from the regulation of insurance contracts in...more

Bureau of Consumer Financial Protection Narrows Federal Preemption of Mortgage Lending Laws

Among the many changes made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) were changes to the Alternative Mortgage Transaction Parity Act (“AMTPA”). AMTPA, a federal law that has been in...more

Does the Use of Foreign Call Centers Violate Privacy and Consumer Protection Laws?

Many companies rely on foreign call centers to help with customer service or other business needs. Now, Plaintiffs in a federal lawsuit allege that the use of such centers violates customers’ privacy and puts personal...more

UPWords- May 2011- Prepaid Discount Vouchers: The Not-So-Final Frontier

The biggest challenge for unclaimed property practitioners is determining how new forms of property fit into unclaimed property laws. Recent technological and entrepreneurial innovations continue to challenge historic...more

Significance of the Principles of European Insurance Contract Law for the pre-contractual information duty: Experience of the...

The provision of cross-border insurance services to consumers in the European Union is problematical as the existence of 27 different contract laws both complicates the cross-border activity and renders it expensive. The...more

Klussman v. Cross Country Bank

Klussman v. Cross Country Bank - Seminal CA choice of law consumer case

In Klussman v. Cross Country Bank, we asserted a very broad based attack on subprime credit card issuer Cross Country Bank's business practices. This published opinion was issued in response to a writ sought by Cross Country...more

23 Results
|
View per page
Page: of 1

Follow Conflict of Laws Updates on: