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Supreme Court Vacates Ninth Circuit Decision in Spokeo, Remands for Analysis of Concrete Harms

On May 16, 2016, the Supreme Court issued its decision in Spokeo v. Robins, which posed the question of whether Article III standing requires a plaintiff to have a concrete injury when alleging a statutory violation under the...more

Cutting Through the Constitutionality Haze in the Battle Between PHH Corporation and the Consumer Financial Protection Bureau

So much has been written in recent weeks about the battle between PHH Corporation and the Consumer Financial Protection Bureau in the U.S. Court of Appeals for the D.C. Circuit. The panel heard oral argument on April 12,...more

Supreme Court Remands Spokeo v. Robins To Ninth Circuit To Reconsider Plaintiff’s Standing

On Monday, the U.S. Supreme Court issued its much-anticipated decision in Spokeo v. Robins, holding that a technical violation of the Fair Credit Reporting Act (“FCRA”) would not be enough to confer Article III standing on...more

Financial Services Weekly News - May 2016 #3

Regulatory Developments - SEC Publishes Small Entity Compliance Guide for Crowdfunding - On May 13, the Securities and Exchange Commission (SEC) published a small entity compliance guide for companies wishing to...more

CFPB Proposes Ban on Class-Action Limitations in Arbitration Agreements

On May 5, 2016, the Consumer Financial Protection Bureau (the “CFPB” or the “Bureau”) issued a long anticipated Notice of Proposed Rulemaking for arbitration agreements (the “Proposal”) that, if finalized as proposed, is...more

Supreme Court Issues Opinions Favorable to Financial Services Companies

May is usually a busy month on the Supreme Court before the justices head off for some summer R&R. It is historically a time when many opinions are issued, and May 2016 has been no exception. ...more

Supreme Court Clarifies Injury-In-Fact Standing Requirement in Spokeo, Dealing Impediment to “Gotcha” Statutory Lawsuits

Article III of the U.S. Constitution limits federal courts’ jurisdiction to actual cases and controversies only. When a plaintiff seeks to sue in federal court despite having suffered no actual injury, the Constitution’s...more

TCPA Connect - May 2016

BREAKING: SCOTUS Rules on Spokeo, Significant Implications for TCPA Cases - The Supreme Court of the United States ruled yesterday in Spokeo, Inc. v. Robins that a plaintiff must show an injury in fact before pursuing a...more

Supreme Court Rules in Spokeo, Requiring “Concrete and Particularized Harm” For Standing

In a 6-2 decision authored by Justice Samuel Alito, the United States Supreme Court spoke on the issue of standing when statutory violations are alleged, and its opinion could have profound effects on TCPA litigation. Holding...more

Supreme Court Decision in Spokeo Breathes Life Into Standing Defenses

Court holds that plaintiff must allege a concrete injury to have standing to sue for a statutory violation; remands for further proceedings - In its just-issued decision in Spokeo, Inc. v. Robins, No. 13-1339, slip op....more

Spokeo v. Robins: Supreme Court Rejects Article III Standing Based Solely on Statutory Violation

In Spokeo v. Robins, the U.S. Supreme Court (6-2) reversed the Ninth Circuit’s holding that an alleged violation of the Fair Credit Reporting Act was sufficient by itself to create a case or controversy required for a...more

Is the CFPB Constitutional?

Is the Consumer Financial Protection Bureau (CFPB) constitutional? A panel of the D.C. Circuit Court of Appeals is currently considering the issue after hearing oral argument in PHH Corporation v. CFPB....more

Ninth Circuit Upholds Ruling in Favor of CFPB against Lawyer in Mortgage Relief Scam, Rejects Constitutional Challenge to Director...

The Ninth Circuit recently considered arguments relating to an enforcement action brought by the Consumer Financial Protection Bureau (CFPB) against a California attorney who was offering loan modification services. The CFPB...more

Problems With the CFPB’s Argument: An Analysis of the D.C. Circuit Oral Arguments on Statute of Limitations

What began as a challenge to the Consumer Financial Protection Bureau’s (“CFPB”) $109 million enforcement ruling against the mortgage company PHH Corp. (“PHH”) for alleged violations of the Real Estate Settlement Procedures...more

Ninth Circuit Rejects Director Cordray's Recess Appointment as Defense to CFPB Enforcement Action; Dissenting Judge Disagrees

Since it was filed in a California federal court in July 2012, we have been following Consumer Financial Protection Bureau (CFPB) v. Chance Edward Gordon, a case in which the CFPB alleged that an attorney duped consumers by...more

7th Circuit Court of Appeals finds Article III Standing for P.F. Chang’s Plaintiffs

On April 14, 2016, the Court of Appeals for 7th Circuit reinstated plaintiffs’ action against P.F. Chang’s restaurant chain that arose out of the well-reported breach of payment card information. The action was previously...more

Ninth Circuit rejects Director Cordray’s recess appointment as defense to CFPB enforcement action; dissenting judge disagrees

Since it was filed in a California federal court in July 2012, we have been following CFPB v. Chance Edward Gordon, a case in which the CFPB alleged that an attorney duped consumers by falsely promising loan modifications in...more

D.C. Circuit Appears Poised to Overturn First CFPB Enforcement Action to Reach the Court: Five Key Takeaways From Yesterday’s Oral...

Major financial firms almost never litigate with their regulators. As a result, regulators often take aggressive enforcement positions with little fear of judicial scrutiny. That’s been especially true for the Consumer...more

D.C. Circuit Judge Expresses Concern That CFPB Concentrates “Huge Power” in Single Director

Yesterday’s oral argument in the CFPB v. PHH Corporation appeal included sharp questioning about the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) single-director structure, which the parties agreed...more

Constitutionality of CFPB structure at issue in D.C. Circuit oral argument

The constitutionality of the CFPB’s structure was front and center at this past Tuesday’s oral argument in PHH Corporation et al. v. CFPB before the U.S. Court of Appeals for the D.C. Circuit. The case involves PHH’s appeal...more

Increased Regulations Spawn New Trade Associations

The 1st Amendment of the Constitution provides for the right of the people to peaceably assemble. Embedded in that right is the freedom of association; the right or ability of people to come together and collectively express,...more

Proactive Protection of Consumers or Premature Penalty? Consumer Financial Protection Bureau Bucks the Trend in Data Security...

Data breaches and cybersecurity attacks appear to be growing in frequency. Despite the increase in the number of such attacks, plaintiffs have found it difficult to establish a legal foothold for data breach claims, as...more

CFPB Poised to Continue Focused Scrutiny of Indirect Auto Lenders

Earlier this month, the Consumer Financial Protection Bureau (CFPB) announced a joint enforcement action with the Department of Justice (DOJ) against Toyota Motor Credit Corporation (TMCC), an indirect auto lender, which,...more

Supreme Court Vacancy Leaves Spokeo Outcome Even More Uncertain

The consumer financial services industry is wondering how the sudden passing of United States Supreme Court Justice Antonin Scalia will affect the pending Spokeo, Inc. v. Thomas Robins case. Spokeo is a key case dealing with...more

Florida District Court Holds That Successor and Assign of Original Lender Has Standing to Enforce Jury Trial Waiver While Loan...

While California does not permit pre-dispute jury trial waivers, jury trial waivers are enforceable in many states. The U.S. District Court for the Southern District of Florida recently held in Thompson v. Caliber Home Loans,...more

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