Consumer Protection Civil Procedure Finance & Banking

Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:
News & Analysis as of

Defendants Granted Limitations-Based Summary Judgment In Captive Reinsurance Class Action

A putative class of mortgage consumers sued Flagstar Bank and its captive reinsurer alleging that they engaged in an illegal “kickback” scheme with private mortgage insurers, which scheme artificially inflated the price of...more

Third Circuit Holds Debtors Need Not Dispute Debt Before Filing Suit Under FDCPA

In McLaughlin v. Phelan Hallinan & Schmeig, LLP, the United States Court of Appeals for the Third Circuit recently held that debtors are not required to notify a debt collector in writing regarding a disputed debt as a...more

Update on state AG/regulator lawsuits using Dodd-Frank authority

We have been following four lawsuits brought by state Attorneys General and a state regulator using their Dodd-Frank enforcement authority. Under Dodd-Frank Section 1042, a state AG or regulator is authorized to bring a civil...more

Zombie (Debt Collector) Beware: West Virginia Expands Prohibited Actions

America’s fascination with zombies infiltrated the West Virginia Legislature during the 2014 Regular Session, resulting in the introduction of a “zombie debt” bill, House Bill 4360. The bill, as introduced, was designed to...more

Third Circuit Holds that Consumers are Not Required to Seek Validation of a Debt before Filing Suit under the FDCPA

On June 26, 2014, in McLaughlin v. Phelan Hallinan & Schmieg, LLP, the Third Circuit held that a consumer is not required to seek validation of a debt he believes is inaccurately described in a debt collection communication...more

Disputing Debts under the FDCPA – The Effect of the Fourth Circuit’s Opinion in Clark v. Absolute Collection Service, Inc.

In January of this year, the United States Court of Appeals for the Fourth Circuit (“Fourth Circuit”) decided the case of Clark v. Absolute Collection Service, Inc. (741 F.3d 487, 4th Cir. 2014). The question of first...more

The High Costs and Consequences of a CFPB CID

Dodd-Frank gives the Consumer Financial Protection Bureau (CFPB) the power to enforce and implement federal consumer financial protection laws, including home mortgage and other consumer credit regulations, plus powerful...more

All Consuming: Legal Updates for Consumer Finance Professionals - July 2014

In This Issue: - Zombie (Debt Collector) Beware: West Virginia Expands Prohibited Actions: America's fascination with zombies infiltrated the West Virginia Legislature during the 2014 Regular Session, resulting...more

Servicers Face New Requirements for Responding to Consumer Error Claims

The CFPB amendments to Regulation X, which implements the Real Estate Settlement Procedures Act (RESPA) that took effect January 10, impose onerous new requirements on servicers to correct errors and provide information that...more

The CFPB issues guidance on ensuring equal treatment for same-sex married couples

On June 25, 2014, the CFPB issued guidance setting forth basic principles on the issue of equal treatment for legally-married same-sex couples. The CFPB noted that this guidance was issued in response to the decision in...more

11th Affirms Dismissal of FDCPA Class Action Based on Law Firm Collection Letter

The Eleventh Circuit has affirmed the dismissal of a putative class action brought under the FDCPA, 15 USC § 1692, against a law firm for sending a letter to a homeowner in default. Specifically, the letter did the...more

Illinois Supreme Court Debates Effect of Failure to Register as Debt Collector

Our reports on the oral arguments during the May term of the Illinois Supreme Court continue with a direct appeal pursuant to Supreme Court Rule 302 – LVNV Funding v. Trice....more

Pom v. Coke Will Impact Financial Services Too

Law 360, New York (June 23, 2014, 11:22 AM ET)--Legal and compliance departments, take note: the U.S. Supreme Court’s recent decision in Pom Wonderful LLC v.Coca-Cola Co. confirms that even i fan institution’s conduct meets...more

California Federal Judge Allows Second Los Angeles Fair Housing Case To Proceed

On June 9, the U.S. District Court for the Central District of California denied a mortgage lender’s motion to dismiss the City of Los Angeles’s Fair Housing Act suit, the second such denial by the same judge in recent weeks....more

How Long Do I Have to Bring My FDCPA Claim?

The Fair Debt Collection Practices Act (“FDCPA”) is a federal law that prohibits debt collectors from treating the people who they are attempting to collect from unfairly or with disrespect. Common violations of the FDCPA...more

CFPB issues final rule on temporary cease-and-desist orders

In a notice published in today’s Federal Register, the CFPB has announced that it has adopted its interim final rule on temporary cease-and-desist orders (C&Ds) without change. The final rule takes effect on July 18, 2014....more

Another state AG files lawsuit using Dodd-Frank authority

A lawsuit filed in May 2014 by the Mississippi Attorney General against Experian in Mississippi state court alleging widespread federal and state law violations was removed last week by Experian to a federal district court in...more

Illinois Federal Court Rules on Dodd-Frank’s Truth in Lending Act Amendment

The United States District Court for the Northern District of Illinois granted summary judgment denying a putative class action suit against a mortgage servicer for alleged violations of the Truth in Lending Act concerning...more

West Virginia Supreme Court Upholds $14 Million Award In Finance Company “True Lender” Case

On May 30, the West Virginia Supreme Court of Appeals affirmed a series of trial court orders requiring a nonbank consumer finance company to pay $14 million in penalties and restitution for allegedly violating the state’s...more

A New Defense Against Municipal Disparate Impact Claims

Banks and non-bank lenders face a variety of fair lending disparate impact claims, which allege unintentional and unfavorable disparate impacts of otherwise neutral policies or practices on minority borrowers. Regulators,...more

Financial Institutions and Creditors’ Rights: Ninth Circuit Finds SCRA Liability Based on Prior Servicer’s Actions

The Servicemembers Civil Relief Act (“SCRA”) was signed into law in 2003, greatly expanding prior legislation in order to better assist servicemembers in avoiding default and foreclosure while they are on active duty. The...more

Summertime Blues: Eleventh Circuit Doubles Down on Strict TCPA Liability for Texts and Autodialed and Prerecorded Calls to Cell...

Over the Spring, we reported on how the Eleventh Circuit’s decision in Osorio v. State Farm brought that court into alignment with the Seventh Circuit on how restrictions in the Telephone Consumer Protection Act (TCPA) on...more

West Virginia District Court Certifies Rule 23(b)(3) Class Of Plaintiffs Alleging Violations Of Fair Credit Reporting Act Section...

The U.S. District Court for the Southern District of West Virginia certified a Rule 23(b)(3) class, holding that the class was sufficiently ascertainable and satisfied the requirements of Rule 23(b)(3). Plaintiff’s class...more

Court Refuses to Apply California or Texas Law to Putative Nationwide Class and Denies Renewed Motion for Class Certification

A California federal district court denied a renewed motion for certification of a nationwide class, holding that the application of California negligence and conversion law would violate the due process rights of...more

Dodd-Frank News: May 2014: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

In This Issue: - RECENT CASES ..Preemption ..CFPB Involvement in Litigation ..CFTC Regulation of Retail Commodity Transactions ..Durbin Amendment ..Appraiser Disclosure Requirements Under...more

293 Results
|
View per page
Page: of 12

Follow Consumer Protection Updates on: