Consumer Finance Monitor Podcast Episode: What Banking Leaders Need to Know About the U.S. Supreme Court Ruling That the CFPB’s Funding Mechanism is Constitutional Part I
Exploring the Potential of Georgia's Merchant Acquirer Limited Purpose Bank Charter — Payments Pros: The Payments Law Podcast
Consumer Finance Monitor Podcast Episode: Understanding the Credit Card Competition Act a/k/a Durbin 2.0
Analyzing the Credit Card Competition Act of 2023 - Payments Pros: The Payments Law Podcast
Rewards Programs and Co-Brand Relationships Between Credit Card Issuers and Merchants - The Consumer Finance Podcast
CFPB’s Increasingly Active Interest in Credit Reporting - FCRA Focus Podcast
A recent decision by the U.S. District Court for the District of Columbia underscores the significance of issues of proof when trying to enforce arbitration agreements. The case is Proctor v. First Premier Corp., No....more
On January 13, 2021, the U.S. District Court for the District of Columbia denied a motion to compel arbitration filed by First Premier Corp. (“First Premier”) in a Fair Credit Reporting Act case, on the grounds that First...more
We join the nation in mourning the passing of Supreme Court Justice Ruth Bader Ginsburg. Over her 20-year career before appointment to the D.C. circuit court, Justice Ginsburg fought for equal rights in the workplace, among...more
The Fifth Circuit Court of Appeals affirmed a district court order denying the plaintiff’s motion to compel arbitration against two non-signatories to the relevant contract. The plaintiff was issued a credit card by defendant...more
In a recent unpublished opinion, Maisano v. LVNV Funding, LLC, No. A-1775-18T2, 2019 WL 6341035 (App. Div. Nov. 27, 2019), the New Jersey Appellate Division upheld the trial court’s order compelling Maisano (the “consumer”)...more
In a dispute involving fraudulent charges, the District of Connecticut required American Express and the cardmember to resolve their issue in arbitration, pursuant to the cardmember agreement, as amended. AmEx provided notice...more
California Now Requires Female Directors on Public Company Boards - In a groundbreaking move to bring gender diversity to the boardroom, on Sept. 30, 2018, Governor Jerry Brown signed California Senate Bill 826 (SB 826),...more
In a recent decision pitting the Bankruptcy Code against the Federal Arbitration Act (FAA), the U.S. Court of Appeals for the Second Circuit held that a creditor could not compel arbitration of a debtor's class action claims...more
U.S. Senate disapproves Consumer Financial Protection Bureau's rule prohibiting arbitration clauses in consumer contracts with Vice President Pence casting the tie-breaking vote....more
Under a controversial new final rule issued by the Consumer Financial Protection Bureau (CFPB) on July 10, 2017, banks and credit card companies are prohibited from forcing consumers into arbitration to avoid class action...more
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
On April 6, 2017, the California Supreme Court struck another blow in its contentious battle with the United States Supreme Court on the enforceability of consumer arbitration clauses subject to the Federal Arbitration Act...more
Drozdowski v. Citibank, Inc., 2:15-cv-02786-STA-cgc (Aug. 31, 2016) Husband and wife Plaintiffs filed a class action lawsuit against Defendant regarding calls allegedly made to Plaintiffs’ cell phones to collect debt...more
Why another law firm newsletter? Over ten years ago, Will Stern answered that question in the first Editor’s Note of the first Financial Services Report. Some things have changed since then—we no longer print and mail paper...more
Plaintiff brought suit against a credit card company, alleging the company violated the TCPA by autodialing her cell phone without consent. The calls at issue were made in conjunction with a “big box” electronic store card,...more
The Consumer Financial Protection Bureau (CFPB) has proposed new rules that would ban companies' use of arbitration clauses that prevent consumer class action lawsuits. The potential new rules, announced this month, would...more
A debt collector did not violate the Fair Debt Collection Practices Act (FDCPA) when it filed a summary judgment motion in a collection action after the debtor had sought enforcement of a credit card agreement’s arbitration...more
On October 7, the CFPB announced at a field hearing in Denver, Colorado, that it plans to propose rules via its rule-making authority that would prohibit financial services companies from including class action waivers in...more
It has only been 24 hours since the Consumer Financial Protection Bureau (CFPB) announced its plans to propose rules limiting the use of arbitration clauses, but the financial services industry is already gearing up to...more
On October 7, 2015, the Consumer Financial Protection Bureau (“CFPB”) proposed a rule that would severely limit the use of arbitration clauses in many consumer financial agreements and likely increase class action litigation...more
On October 7, 2015, the Consumer Financial Protection Bureau (CFPB) announced that it is considering proposing rules that would prohibit companies from including in consumer contracts arbitration clauses that prevent...more
As expected, the reaction to the Consumer Financial Protection Bureau's (CFPB) arbitration study report, released in March 2015, has been vociferous. All sides of this important debate are loudly proclaiming that their...more
In a report to Congress released in March, the Consumer Financial Protection Bureau (CFPB) takes aim at consumer agreements that require disputes to be resolved by arbitration. The CFPB generally does not have...more
The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more
Three prominent industry trade groups are urging the Office of Management and Budget (OMB) not to approve the CFPB’s proposal to conduct a national telephone survey of 1,000 credit card holders as part of its study of the use...more