Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:
Bill on Bankruptcy: Delaware Garners Almost All Big Chapter 11s
Bill on Bankruptcy: Listening in the Dark at the NCBJ
Dean: Law Schools Use Merit Scholarships To Boost Rankings
Dean: Law Firms 'Support' NYLS's 2 Year Degree Program
Bill on Bankruptcy: LightSquared, the Battle among Hedge Funds
Bill on Bankruptcy: Appeals Court Changes the Law on Fraud
Bill on Bankruptcy: Make-Whole Premiums, Lehman, ResCap
Rice: Banking Lobby Won't Let New Glass-Steagall Bill Pass
Bar President: 3Ls Should Get Paid for Internships
Bill on Bankruptcy: Lawyers Must Disclose What Clients Pay
NALP: 18-Year Low for Law Grad Employment
Is Edward Snowden a Whistleblower?
Unique Privacy Concerns for Mobile Apps
Instapundit: America's IP Laws Need to be "Pruned Back"
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Could This Law School Ranking Unseat US News?
Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock
Tips for Mobile App Privacy Compliance
Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans
Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
The CFPB announced its first public enforcement action against a payday lender—a consent order alleging, among other things, unfair and deceptive acts or practices in connection with affidavits. According to the consent...more
The CFPB announced it had entered into a consent order with a mortgage insurance company following the CFPB’s filing of a complaint in the United States District Court for the Southern District of Florida against the company...more
On November 19, the U.S. Department of Justice announced that JPMorgan Chase & Co. has agreed to pay $13 billion to settle a number of federal and state RMBS-related civil claims against JPMorgan and two institutions that...more
A New York Federal court has certified a class action against Ann Taylor LOFT for violations of the Truth in Lending Act (see Opinion & Order in Kelen v. World Financial Network National Bank, Case No. 12-CIV-5024).
On October 23, New York Governor Andrew Cuomo announced a $3 million penalty against a mortgage lender that the New York State Department of Financial Services (DFS) determined engaged in deceptive practices concerning...more
Based on an investigation by HUD beginning more than two years ago, the CFPB filed a complaint in the United States District Court for the Western District of Kentucky against a law firm that provides settlement services...more
Last week, the Consumer Financial Protection Bureau announced that it filed suit against a Kentucky law firm, Borders & Borders, PLC, and its principals, alleging that the defendants violated Section 8 of the Real Estate...more
On October 24, the CFPB announced the filing of a lawsuit against a Kentucky law firm and its principals for allegedly violating Section 8 of RESPA by operating a network of affiliated companies in order to pay “kickbacks”...more
On October 17, Nevada Attorney General (AG) Catherine Cortez Masto announced that she had finalized an agreement with a financial institution that requires the financial institution to pay $11.5 million, without admitting...more
Last week, the California Attorney General Kamala D. Harris announced that she had filed a complaint for civil penalties, permanent injunction and other equitable relief against Corinthian Colleges and three of its school...more
A presentation for the American Conference Institute's 12th National Forum on Residential Mortgage Litigation & Regulatory Enforcement examining increased scrutiny by government regulators of third party vendor management...more
The CFPB announced that it and the OCC have issued a consent order against two affiliated banks alleging violations of federal consumer protection laws for deceptive marketing of their add-on products (i.e., payment...more
This week we examine the recent Judge Posner authored decision in Hughes v. Kore of Indiana Enterprise, Inc. that discusses class action notice requirements and the utility of cy pres decrees. We also examine the bombshell...more
On August 29, the U.S. District Court for the Northern District of Illinois ordered an online payday loan operation to cease business activities and freeze assets in response to a complaint and memorandum filed by the FTC on...more
Every single one of the large financial institutions deserves to be closed and dissolved, their officers imprisoned and every single one of the regulators involved, including The Fed, SEC, OTS and OCC should be...more
The CFPB filed a complaint in the United States District Court for the Central District of California against a debt-relief service company alleged to have violated the FTC’s Telemarketing Sales Rule and engaged in deceptive...more
In Rose v. Bank of America (--- P.3d ----, Cal., August 1, 2013), the California Supreme Court considered whether a consumer could bring an action for unlawful business practices under state law, for violations of federal...more
CLASS ACTION COMPLAINT FOR BREACH OF CONTRACT, BREACH OF IMPLIED COVENANT OF GOOD FAITH AND FAIR DEALING, VIOLATION OF THE UNFAIR COMPETITION LAW, AND PROMISSORY ESTOPPEL.
THE 9TH CIRCUIT COURT OF APPEALS REVERSED THE...more
Wells Fargo Mortgage Modification Lawsuits Revived by Court
In a separate action involving Wells Fargo, a U.S. Court of Appeals held that the bank must face lawsuits by home loan borrowers for refusing to offer them...more
Department of Justice Sues Bank of America for Defrauding Investors in Connection with Sale of Over $850 Million of Residential Mortgage-Backed Securities.
The complaint alleges that Bank of America lied to investors about...more
On July 18, the U.S. District Court for the Middle District of Florida held that an online payday loan referral business engaged in unfair and deceptive billing practices and failed to provide adequate disclosures to its...more
Slides addressing the management and defense against claims of discriminatory lending and assessing the status of ‘disparate impact’ in Fair Lending litigation and enforcement. ...more
On July 10th, the CFPB issued new debt collection guidance that, among other things, seeks to hold CFPB-supervised creditors accountable for engaging in acts or practices the CFPB considers to be unfair, deceptive, and/or...more
In a case that may have far-reaching consequences, a lawsuit was filed in federal court in Colorado accusing Bank of America of racketeering (RICO).
It was a game to the bank. They intentionally lured people into what they...more
A trial judge has ordered the lender to execute a permanent modification based upon the borrowers total compliance with the provisions of the trial modification.
Wells Fargo (Wachovia) was given the terms of the...more