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D.C. District Court Allows Payday Lenders’ Due Process Claims To Proceed In Case Against “Operation Choke Point”

by Ballard Spahr LLP on

On July 5, 2017, the U.S. District Court for the District Columbia, in the lawsuit filed in 2014 challenging “Operation Choke Point” — a federal enforcement initiative involving various agencies, including the Consumer...more

Florida’s First District Court of Appeal Should Abandon the Standing at Inception Rule in Mortgage Foreclosure Cases

by Carlton Fields on

Florida’s First District Court of Appeal, in Rigby v. Bank of New York Mellon, Case No. 1D16-0665, appears to be considering receding from the “standing at inception” doctrine in the mortgage foreclosure context. That rule...more

No Standing = No Fees: Turning the Tide in Favor of Lenders and Servicers in the fight for fees in Florida

by Locke Lord LLP on

On July 12, 2017, Locke Lord was successful in obtaining an order in a Florida trial court denying a borrower’s request for an award of attorneys’ fees following a successful argument that the plaintiff lacked standing to...more

City of Miami Gets Green Light on Standing to Challenge Predatory Lending Practices Under the FHA

by Hinshaw & Culbertson LLP on

By a 5-3 vote, the U.S. Supreme Court recently ruled that under the Fair Housing Act ("FHA") the City of Miami has standing to sue two banks for predatory lending practices which negatively affect racial integration and...more

Sixth Circuit Rings the Spokeo Bell in FDCPA Ruling Involving Discovery Statute Violation

by Hinshaw & Culbertson LLP on

In May 2016, the U.S. Supreme Court ruled on whether the Fair Credit Reporting Act ("FCRA") created a right confering Article III standing for plaintiffs in consumer litigation. The decision, Spokeo, Inc. v. Robins, 136 S.Ct....more

A Review of the Supreme Court’s 2016-2017 Term

by Franczek Radelet P.C. on

This year’s Supreme Court term may be more memorable for the intrigue and political drama taking place outside the Court than the import of the decisions the Court issued. On April 10, 2017, Judge Neil Gorsuch of the Tenth...more

Alleged FCRA “Informational Injury” Survives Motion To Dismiss

by King & Spalding on

On June 16, 2017, the U.S. District Court for the District of New Jersey—in Muir v. Early Warning, 2:16-cv-00521(SRC)(CLW), 2017 WL 2616890, at *1 (D.N.J. June 16, 2017)—denied a motion to dismiss that argued that a...more

Spokeo And Standing: Fourth Circuit Applies Spokeo And Reverses Nearly $12 Million FCRA Action Judgment

by King & Spalding on

On May 11, 2017, the U.S. Court of Appeals for the Fourth Circuit issued an opinion in Dreher v. Experian Information Solutions, Inc., reversing and dismissing a nearly $12 million award in a Fair Credit Reporting Act...more

Financial Services Report - Summer 2017

by Morrison & Foerster LLP on

EDITOR’S NOTE - Summer blockbuster season is officially upon us. Have you seen Wonder Woman yet? What about Guardians of the Galaxy Part 2? It’s déjà vu all over again with Baywatch, Pirates of the Caribbean, Alien,...more

Going Down For A Third Time – Barnes & Noble Consumer Data Breach Claims Are Dismissed Again for Lack of Injury

Despite some courts’ evident confusion about the impact of payment card theft on consumer cardholders, other courts are getting it right. Just this week, a judge in the Northern District of Illinois issued an order dismissing...more

District of New Jersey Dismisses FACTA Suit on Spokeo Grounds

by Goodwin on

Even a year after it issued its opinion in Spokeo v. Robins, the Supreme Court’s decision on Article III standing continues to be hotly contested. On June 6, 2017, the District of New Jersey cited Spokeo in dismissing an...more

D.C. Circuit Publishes Transcript of PHH v. CFPB Oral Arguments

by Ballard Spahr LLP on

On June 6, 2017, the D.C. Circuit published the 85-page transcript of the May 24, 2017 oral arguments in the PHH v CFPB case...more

Congress Seeks Dodd-Frank Overhaul and Elephant Dart for Consumer Financial Protection Bureau

by Hinshaw & Culbertson LLP on

On May 4, 2017, the House Financial Services Committee passed HR 10, the Financial CHOICE ACT (“FCA”) by a 34-26 vote, with all proposed Democratic redlines rejected. The FCA is expected to go to a full House vote as early as...more

Bankruptcy courts cannot approve structured dismissal of Chapter 11 case that violates absolute priority rule

by Snell & Wilmer on

In Czyzewski v. Jevic Holding Corp., 137 S. Ct. 973 (2017), the U.S. Supreme Court held that a bankruptcy court was not authorized to approve a structured dismissal of a Chapter 11 case that violated the absolute priority...more

Judge Bumb Answers Key Question That No One Asked: TCPA Plaintiff Lacks Standing to Recover on Unanswered Calls

by Dorsey & Whitney LLP on

In Watkins v. Wells Fargo Bank, N.A., No. 15-cv-5712 (RMB)(KMW), 2017 U.S. Dist. LEXIS 84503 (D.N.J. June 2, 2017), the defendant challenged a plaintiff’s TCPA claim on MSJ, arguing that the plaintiff could not have revoked...more

Sixth Circuit Rejects Per Se Rule Automatically Mooting Sale Appeals in the Absence of a Stay

by Jones Day on

Debtors beware: The Sixth Circuit Court of Appeals has recently expanded the ability of parties to appeal a bankruptcy court's approval of a sale of assets notwithstanding the statutory mootness rule set forth in section...more

Substantive Consolidation of Non-Debtors-Standing and Notice Issues

by Dechert LLP on

U.S. courts generally agree that the substantive consolidation should be applied sparingly, and even more so when substantive consolidation of debtors with non-debtors is sought. While many opinions address the grounds for...more

Battle Continues Over Colorado Nonbank Action

The Colorado regulator facing a lawsuit from two banks seeking to work with nonbank partners filed a motion to dismiss the case, arguing that the banks lack standing to sue and that the federal preemption defense asserted...more

Can Usury Ever Be Waived?

by Allen Matkins on

California courts have defined “usury” as “the exacting, taking or receiving of a greater rate than is allowed by law, for the use or loan of money.” Ross v. Wheeler 140 Cal. App. 217, 222 (1934). The California Constitution...more

D.C. Circuit poised to decide constitutionality of CFPB structure in PHH case

by Ballard Spahr LLP on

On May 24, 2017, the US Court of Appeals for the D.C. Circuit (D.C. Circuit) held oral argument in the PHH case, which we have blogged about extensively. The constitutionality of the CFPB’s structure was the central issue at...more

PHH v. CFPB En Banc Oral Argument Recap: Who Won?

by Hinshaw & Culbertson LLP on

The Skinny on the Scuffle - During the 1 hour and 36 minute debate held on May 24, the parties and the full D.C. Circuit Court engaged in a lively and passionate back and forth, mostly over the constitutionality of the...more

Central District of California Upholds the Constitutionality of the CFPB and Enforces a CID

by Ballard Spahr LLP on

Adding to the growing body of cases disputing the CFPB’s authority to issue civil investigative demands (“CID”), a U.S. district court judge in the Central District of California, on May 17, rejected multiple challenges and...more

Federal Circuit Rules that Starr International Lacks Standing to Pursue Class Claims Stemming from the U.S. Government’s...

On May 9, 2017, the U.S. Court of Appeals for the Federal Circuit (“Federal Circuit”) affirmed in part and reversed in part an earlier decision from the U.S. Court of Federal Claims, which had held that aspects of the...more

FCRA Class Plaintiff Lacked Injury Needed for Standing Under Spokeo, 4th Circuit Holds

by Ballard Spahr LLP on

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

Spokeo: On the One-Year Anniversary of the Pivotal Case, Insights for Retailers

by Morgan Lewis on

Dear Retail Clients and Friends, Many of you are likely familiar with the US Supreme Court’s decision in Spokeo, Inc. v. Robins. On the one-year anniversary of Spokeo, data shows that retailers’ chances of success in...more

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