News & Analysis as of

Article III Consumer Financial Products

Ballard Spahr LLP

CFPB files its reply brief in support of the CFPB’s motion to dismiss Plaintiff Fort Worth Chamber and transfer the case to D.D.C.

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On August 19, 2024, the CFPB filed its reply brief in support of the CFPB’s motion to dismiss Plaintiff Fort Worth Chamber of Commerce (Fort Worth Chamber) for lack of standing and, if granted, transfer the case to the...more

Ballard Spahr LLP

Plaintiffs declare that Fort Worth Chamber is the CFPB’s “natural adversary” in their opposition brief to the CFPB’s motion to...

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On August 12, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dismiss Plaintiff Fort Worth Chamber of Commerce (Fort Worth Chamber) for lack of standing and if granted, transfer the case to the...more

Ballard Spahr LLP

CFPB files motion to dismiss Fort Worth Chamber of Commerce for lack of standing and if granted, renews its motion to transfer the...

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On July 29, 2024, the CFPB filed a motion to dismiss the Fort Worth Chamber of Commerce as a Plaintiff for lack of standing and if granted, transfer the case to a the Federal District Court for D.C. In its brief, the CFPB...more

Troutman Pepper

CFPB Moves to Dissolve Preliminary Injunction and Supplements Motion to Transfer in Credit Card Late Fee Rule Case; Court...

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Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a brief in the U.S. District Court for the Northern District of Texas in support of its motion to dissolve the preliminary injunction that has stayed...more

Ballard Spahr LLP

Minnesota federal court dismisses lawsuit against FDIC over NSF fee guidance

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On April 8, 2024, a Minnesota federal district court dismissed without prejudice the complaint filed by the Minnesota Bankers Association and Lake Central Bank (Plaintiffs) against the Federal Deposit Insurance Corporation...more

Ballard Spahr LLP

Biden loan forgiveness alternatives face new challenge

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Less than six weeks after the U.S. Supreme Court held that President Biden lacked authority to advance his signature effort to forgive upwards of $430 billion in federal student loans, a new challenge has been filed to other...more

Goulston & Storrs PC

The Importance of Having All Your Docs in a Row On a Commercial Foreclosure Summary Judgment Motion

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Like many of you, we are seeing a significant increase in commercial real estate (“CRE”) loan workouts. The magnitude of the swell in distressed CRE loans remains unclear, although one thing is certain: appreciating the...more

Troutman Pepper

Eleventh Circuit Reverses Course and Holds a Single Text Message Constitutes TCPA Standing

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The Eleventh Circuit has now joined seven other circuits in holding that receipt of unwanted text messages constitutes concrete injury for standing. On July 24, the Eleventh Circuit issued an en banc decision in Drazen v....more

Ballard Spahr LLP

CFPB files opposition to preliminary injunction motion in lawsuit challenging Section 1071 final rule

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The CFPB has filed its opposition to the motion seeking a preliminary injunction filed by the plaintiffs in the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule)....more

Orrick, Herrington & Sutcliffe LLP

4th Circuit remands privacy suit to state court

On February 21, the U.S. Court of Appeals for the Fourth Circuit held that a proposed class action over website login procedures belongs in state court. Plaintiff alleged that after a nonparty credit reporting agency...more

Orrick, Herrington & Sutcliffe LLP

8th Circuit reverses debt collection action for lack of standing

On February 24, the U.S. Court of Appeals for the Eighth Circuit vacated and remanded the dismissal of a class action lawsuit concerning a medical collection letter that listed amounts due but did not distinguish between the...more

Orrick, Herrington & Sutcliffe LLP

States file brief in support of Biden’s student loan debt-relief program

On January 11, a coalition of 22 state attorneys general from Massachusetts, California, Colorado, Connecticut, Delaware, the District Of Columbia, Hawaii, Illinois, Maryland, Michigan, Minnesota, Nevada, New Jersey, New...more

Williams Mullen

RESPA Sec. 8(a): How is an Unnecessarily High Settlement Cost Different from an Overcharge?

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In Brasko v. Howard Bank, 2022 WL 951771 (D. Md. Mar. 29, 2022), a district court recently certified a subclass of residential mortgage borrowers who alleged that First Mariner Bank, a predecessor of Howard Bank, violated...more

Bilzin Sumberg

Rulings on Standing and Statute of Limitations Deliver Huge Blow to RMBS Investors

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Last week, the U.S. District Court for the Southern District of New York dealt a major blow to mortgage investors in two parallel actions pending for the past few years. The impact proved to be fatal to one of the actions,...more

BCLP

2019 Year in Review for Financial Services Class Actions - Highlighted class action and regulatory developments

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Focus areas included FCRA, Fair Lending, ancillary fees and services (such as lender placed flood insurance), TCPA, privacy and data security and other topics. Consumer Financial Protection Bureau’s Director Kathleen...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending January 17, 2020

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Real Property Update - Condition Precedent / Summary Judgment: Master association was not an owner of the condominium association and lacked standing to defend litigation based upon condominium association’s alleged...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending December 6, 2019

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Real Property Update - Due Process: Trial court violated developer’s due process rights by considering and ruling upon developer’s motion to quash service of process, which was not set for hearing, despite developer’s...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending November 22, 2019

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Real Property Update - Foreclosure / Rehearing: Order denying rehearing on summary judgment motion and denying continuance affirmed where (1) affidavit in support of rehearing failed to disclose any genuine issue of...more

Ballard Spahr LLP

Trade groups respond to motion to dismiss lawsuit challenging Nevada law allowing applicant to rely on spouse’s or former spouse’s...

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The three trade groups challenging an amendment to Nevada law that allows an applicant for credit with no credit history to request that the creditor deem the applicant’s credit history to be identical to that of the...more

Carlton Fields

Financial Services Update: Week Ending November 1, 2019

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Financial Services Update - FCCPA and FDCPA: The plaintiff did not demonstrate a genuine issue of material fact that medical providers and their attorney violated the FCCPA and FDCPA by conditioning medical services on a...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending October 18, 2019

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Real Property Update - Foreclosure / Statute of Limitations: default notice pursuant to paragraph 22 of subject mortgage may include amounts accrued outside five-year statute of limitations – U.S. Bank, Nat’l Ass’n v....more

Bilzin Sumberg

Eleventh Circuit Holds that a Guarantor Lacks Standing Under the Equal Credit Opportunity Act

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Late last month, the U.S. Court of Appeals for the Eleventh Circuit held in Regions Bank v. Legal Outsource PA, No. 17-11736, 2019 WL 4051703 (11th Cir. Aug 28, 2019), that a loan guarantor does not qualify as an “applicant”...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending July 19, 2019

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Real Property Update - Foreclosure / Condo Assessments: under section 718.116(1)(a), Florida Statutes, present condo owner is jointly and severally liable with the previous owner for unpaid assessments and related expenses...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending June 7, 2019

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Real Property Update - Foreclosure / Standing: owner of property subject to mortgage at the time the complaint and lis pendens were filed had standing to dispute legal sufficiency of proof of amount due where owner was...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending January 25, 2019

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Real Property Update - Trespass / Temporary Injunction: temporary injunction order premised upon a physical trespass onto property, which did not specify actions that constitute trespass, did not enjoin use of airspace over...more

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