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Consumer Protection Finance & Banking Constitutional Law

Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:

Ninth Circuit Rules on Spokeo Remand

by Selman Breitman LLP on

On August 15, 2017, the Ninth Circuit ruled that a litigant who accused Spokeo of violating the Fair Credit Reporting Act by allegedly reporting inaccurate information about him had claimed a sufficiently concrete injury to...more

Financial Services Weekly News - August 2017 #3

by Goodwin on

Editor's Note - In This Issue. The Department of Labor (DOL) filed a Notice of Administrative Action seeking to delay the Fiduciary Rule until July 2019; federal banking agencies issued guidance on the capital treatment of...more

Alleged FCRA Violation Sufficiently Concrete for Article III Standing, Ninth Circuit Holds in Spokeo II

by Ballard Spahr LLP on

On remand from the U.S. Supreme Court, the U.S. Court of Appeals for the Ninth Circuit has held in Spokeo v. Robins that an alleged Fair Credit Reporting Act (FCRA) violation was sufficiently concrete to support Article III...more

Spokeo: On Remand From The U.S. Supreme Court, The Ninth Circuit Finds Plaintiff Has Standing, Again

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Following remand from the U.S. Supreme Court, the Ninth Circuit found that the plaintiff suing Spokeo, Inc. under the Fair Credit Reporting Act alleged sufficient injury to establish standing to proceed in...more

Ninth Circuit Revisits Article III Standing For An Alleged FCRA Violation

by Littler on

On August 15, 2017, the U.S. Court of Appeals for the Ninth Circuit issued another opinion in the saga of Robins v. Spokeo, Inc.—a case dealing with the question of what violations of a federal statute are sufficient to...more

The Seventh Circuit Finds No Standing in FCRA Case Based on Job Application Credit Reports

by Fenwick & West LLP on

The U.S. Court of Appeals for the Seventh Circuit held that allegations that prospective employers obtained consumer reports in technical violation of the Fair Credit Reporting Act by themselves do not constitute a concrete...more

District Court Rejects Servicer’s Argument that CFPB is Unconstitutional

by Goodwin on

?On August 4, 2017, the United States District Court for the Middle District of Pennsylvania denied a student loan servicer’s motion to dismiss claims brought against it by the Consumer Financial Protection Bureau (CFPB),...more

Middle District of Pennsylvania Ignores Key Constitutional Questions in Navient Case

by Ballard Spahr LLP on

As we’ve discussed before, the CFPB sued Navient over its student loan servicing practices in the Middle District of Pennsylvania. In doing so, the CFPB followed its strategy of announcing new legal standards by enforcement...more

DOJ invited to participate in Ocwen’s challenge to CFPB’s constitutionality

by Ballard Spahr LLP on

A Florida federal district court has granted the motion filed by Ocwen Financial Corporation to invite the U.S. Attorney General to express the AG’s views on the CFPB’s constitutionality....more

Lucia appeals D.C. Circuit ruling to Supreme Court

by Ballard Spahr LLP on

On July 21, 2017, an investment adviser sought review by the Supreme Court of the D.C. Circuit’s recent ruling in Lucia that allowed to stand a district court decision holding that SEC administrative law judges (“ALJs”) are...more

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

Consumer Financial Services Newsletter - July 2017

by Hinshaw & Culbertson LLP on

Sixth Circuit Rings the Spokeo Bell in FDCPA Ruling Involving Discovery Statute Violation - In May 2016, the U.S. Supreme Court ruled on whether the Fair Credit Reporting Act ("FCRA") created a right confering Article III...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

SCOTUS denies petition for certiorari in case asserting recess appointment defense to CFPB enforcement action

by Ballard Spahr LLP on

On Monday, the U.S. Supreme Court denied the petition for certiorari in CFPB v. Chance Edward Gordon, a case filed by the CFPB in 2012 that alleged the defendant had duped consumers by falsely promising loan modifications in...more

Trade associations voice support for commission to run CFPB

by Ballard Spahr LLP on

A group of 22 trade associations sent a letter last week to the Chairmen and Ranking Members of the Senate and House Appropriations Committees expressing their “strong support” for the creation of a five-member bipartisan...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

California Court Upholds CFPB’s Constitutionality, Request for CID

Taking the opposite approach from recent decisions of the U.S. Court of Appeals for the D.C. Circuit, a California federal court upheld the constitutionality of the Consumer Financial Protection Bureau while also ordering the...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

Fourth Circuit Weighs in on Article III Standing

The Fourth Circuit recently examined the issue of Article III standing in the context of the FDCPA. In Ben-Davies v. Blibaum & Associates, P.A., 2017 U.S. App. LEXIS 9667 (4th Cir. June 1, 2017), the consumer sought to...more

Fleeting Glimpse of RESPA Issues in PHH Argument as Court Focuses on Bureau Constitutionality

by Foley & Lardner LLP on

Although the RESPA issues were addressed in the briefs filed by the parties in the PHH case, at oral argument this week the parties and the en banc D.C. Circuit focused heavily on whether the president’s authority is...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

The Battle Over the CFPB Continues

The battle over the future of the Consumer Financial Protection Bureau (CFPB) rages on, with Republicans trying a host of measures to challenge and contain the agency....more

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