Consumer Protection Civil Procedure Finance & Banking

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Petitioner Opposes NY Regulator’s Motion To Dismiss Lawsuit Seeking Access to Database of Alleged Illegal Payday Lenders

The consumer financial services attorney (the petitioner) who sued the New York State Department of Financial Services (DFS) and its superintendent, Benjamin Lawsky, to obtain access to DFS’s database of alleged illegal...more

CFPB announces lawsuits against student loan debt relief companies

On December 11, the CFPB announced lawsuits against two student loan debt relief companies alleged to have deceived borrowers into paying upfront fees for federal student loan repayment benefits that are available for free....more

Responding to Frivolous Notices

I love the internet and the convenience of quickly searching through my friend, Google. You have probably done this too. You are out with friends and someone questions who won the World Series in 2001. It is fun to be able to...more

Financial Services Regulatory Bulletin - December 2014

In this issue: - CFPB Issues Final Rule on Regulation P: Annual Privacy Notices Can Be Delivered By Posting Online - ‘It Takes Hutzpah!’: D.C. Federal Judge Issues Stunning Rebuke of HUD Disparate Impact Rule...more

Ninth Circuit Holds that Putative TCPA Class Action Is Not Subject to Arbitration Clause in Shrinkwrap Contract

The Ninth Circuit recently held that a putative class action asserting violations of the federal Telephone Consumer Protection Act (“TCPA”) was not subject to arbitration because the representative plaintiff was unaware of...more

How to Defeat the “Account Stated” Claim in Your Midland Funding Lawsuit

When junk debt buyers like Midland Funding file a lawsuit they often don’t have the evidence and documents they need to prove that you had a contract with the original creditor. Because of this they will often not only sue...more

“But They Owe Someone, Right?” – The Importance of Keeping the Court Focused in Your CACH, LLC Lawsuit

Recently I had oral argument on a Motion for Summary Judgment in a debt buyer lawsuit. During my presentation I was arguing that there was no evidence that my client owed any money to the debt buyer, CACH, LLC. The judge in...more

CFPB announces consent order relating to alleged debt relief scam

The CFPB has announced that it has entered into a proposed consent order with Premier Consulting Group LLC and a related law firm to settle claims that the defendants charged consumers upfront fees in violation of the...more

What to Expect from Your Mediation with Midland Funding, LLC

When it comes to fighting back against debt collectors like Midland Funding, Portfolio Recovery, or CACH, LLC (to name just a few) there are a lot of ” – tions ” . You have “litigation”, “arbitration” , and “mediation” . ...more

TCPA Connect - November 2014

Ruling on ATDS Capability, California Court Dismisses TCPA Suit - Siding with courts that evaluate a system’s present – not potential – capacity to store or produce telephone numbers when considering whether a system...more

ABA Takes Restrictive Approach to Use of Law Firm Letterhead in Debt Collection - ABA Standing Committee on Ethics and...

Brief Summary: The American Bar Association (ABA) has concluded that a prosecutor who allows a debt collection company to use the prosecutor's letterhead to demand payment from borrowers violates Model Rules 8.4(c) and...more

Beware of Civil Copycat Suits Following Agency Enforcement Actions

Why it matters - Over the years, companies and individuals that have been the subject of enforcement actions by the Federal Trade Commission, state attorneys general, or other agencies have often found themselves on...more

What is the Statute of Limitations on a Credit Card Debt in Arizona?

This question is more tricky than it might first seem. I meet with a lot of people who have been sued by one of the big debt buyers (i.e. Midland Funding, Portfolio Recovery, Unifund, CACH, LLC, etc.) who think that they are...more

D.C. Court Strikes Down HUD Disparate Impact Rule

The District Court of the District of Columbia has issued a decisive order vacating HUD’s 2013 Fair Housing Act disparate impact rule. The rule, as we’ve discussed, has always been based on a shaky legal foundation, but is...more

Sixth Circuit: Attempt To Collect Statutory Interest Violates FDCPA If Displaced By Contract

In Stratton v. Portfolio Recovery Assoc., LLC, No. 13-6574 (6th Cir. Oct. 24, 2014), the Sixth Circuit reversed dismissal of a putative class action, holding a party’s waiver of statutory interest in favor of a different...more

Federal District Court Vacates HUD Disparate Impact Rule

In a Fair Housing Act (FHA) case we have been watching for some time, the federal district court in Washington, D.C., recently issued an opinion vacating the U.S. Department of Housing and Urban Development’s (HUD’s)...more

Home Depot Data Breach Litigation: Venue and Consolidation

Substantive litigation in the flood of lawsuits concerning the recent Home Depot data breach awaits a determination of where the cases will be heard. Numerous overlapping lawsuits have been filed in courts throughout the...more

Who Do You Trust?— New Ruling Highlights the Need for Care in Deciding How to Open Your Joint Bank Account

Florida law recognizes, and most banks offer, multiple forms of account designation to meet the desires and needs of individual customers. Keep in mind, however, that the standard demand deposit account agreement (whether...more

TCPA Risks Increase for the Financial Services Industry

Companies in the financial services industry are being targeted in lawsuits brought under the Telephone Consumer Protection Act (TCPA). Record-setting class action settlements like the recent $75 million settlement involving...more

Uncivil Civil Investigative Demands

Responding to civil investigative demands (CIDs) issued by the CFPB is one of the larger challenges faced by financial institutions in acclimatizing to the new regulatory agency. Moreover, the CFPB has demonstrated that it...more

A Compilation of Enforcement and Non-Enforcement Actions

Non-Enforcement - Assets Under Management by Registered Investment Advisers Have Increased Substantially - Will “Accredited Investor” Definition Be Changed? - Excessive Fee Case Withstands Dismissal -...more

Mortgage company that entered into CFPB consent order moves to dismiss class action claims

Earlier this week, Castle & Cooke Mortgage, LLC, the mortgage company that entered into a consent order with the CFPB in November 2013 to settle charges that it violated the Regulation Z loan originator compensation rule (“LO...more

Rising Number of Class Actions Targeting Outlet Stores Based on Claims of False and Deceptive Advertising

1. Class Action Lawsuits Have Been Filed Against Retailers That Operate Outlet Stores Based on Their Alleged Pricing Claims - Plaintiffs’ class attorneys have a new target in sight and it is outlet shopping. In the...more

Defendants file appeal in NY regulator’s lawsuit using Dodd-Frank authority

The defendants in the lawsuit brought by Benjamin Lawsky, the Superintendent of the New York Department of Financial Services, using his Dodd-Frank enforcement authority have filed an appeal with the U.S. Court of Appeals for...more

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

In This Issue: - RECENT CASES .. Mortgage Servicing Rules .. Antiretaliation Provision ..Credit Default Swaps Antitrust Litigation ..CFPB Involvement in Litigation - IN THE...more

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