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Collection Letter Making Settlement Offer for Time-Barred Debt Can Violate FDCPA Without Legal Action Threat, Third Circuit Rules

A letter sent to collect a time-barred debt that makes a settlement offer can, even without a threat of legal action, violate the Fair Debt Collection Practices Act's (FDCPA) general prohibition against a debt collector's use...more

House passes “Madden fix” bill

By a vote of 245-171, the House passed H.R. 3299, the “Madden fix” bill (whose official title is the “Protecting Consumers’ Access to Credit Act of 2017.”) In Madden, the Second Circuit ruled that a nonbank that purchases...more

CFPB seeks comment on its supervision program

The CFPB has issued a request for information that seeks comment on its supervision program. Comments on the RFI will be due no later than 90 days after it is published in the Federal Register, which the CFPB expects to...more

CFPB reportedly puts investigation of Equifax on ice while other government agencies press forward

Equifax announced on September 7, 2017 a massive data breach affecting an estimated 143 million consumers. Richard Cordray, the then Director of the CFPB, shortly thereafter authorized an investigation according to several...more

Seventh Circuit Rejects Use of Miller "Safe Harbor" Language When a Debt Cannot Increase

Safe harbor language is not always safe, as illustrated by a recent decision of the U.S. Court of Appeals for the Seventh Circuit Court of Appeals in Boucher v. Finance System of Green Bay....more

District court stays proceedings pending outcome of English preliminary injunction appeal; English files opening appeal brief

On January 30, 2018, the federal district court hearing Leandra English’s action seeking a declaration that she is the lawful Acting CFPB Director granted the parties joint motion to stay further proceedings pending a...more

U.S. Supreme Court Rejects Second Bid for Review in Spokeo

The U.S. Supreme Court on Monday denied the petition for certiorari seeking review of the U.S. Court of Appeals for the Ninth Circuit's most recent decision in Spokeo v. Robins (Spokeo II), foregoing an opportunity to clarify...more

CFPB defends judgment in enforcement action against biweekly mortgage payment companies

Despite the CFPB’s change in position after Mick Mulvaney’s appointment regarding the need for Nationwide Biweekly Administration to post a bond to stay execution of the $7.9 million judgment obtained by the CFPB, the CFPB...more

Court Denies English’s Preliminary Injunction Motion; Mulvaney Continues to Exercise Acting CFPB Director Authority

Wednesday, U.S. District Court Judge Timothy J. Kelly denied Leandra English’s motion for a preliminary injunction in a 46-page opinion. English had sought to block President Trump’s appointment of Mick Mulvaney to serve as...more

Uniform Act to Regulate Virtual Currency Businesses Ready for State Adoption

A new proposed law to create a statutory framework for regulating persons engaging in virtual-currency business activity, the Uniform Regulation of Virtual-Currency Businesses Act (URVCBA), has been approved by the Uniform...more

Ninth Circuit Rules California "No Credit Card Surcharge" Law Violates First Amendment

A California law that prohibits merchants from imposing a surcharge on credit card purchases violates the First Amendment of the U.S. Constitution, a unanimous panel of the U.S. Court of Appeals for the Ninth Circuit has...more

N.Y. Decision May Hinder Early Class Action Settlements

The decision of the New York Court of Appeals, in Desrosiers v. Perry Ellis Menswear, LLC., and in Vasquez v. Nat'l Sec. Corp., has created a potential obstacle to early class action settlements in cases filed in New York...more

Democratic Senators introduce bill to increase state AG oversight of national banks

Democratic Senator Dianne Feinstein announced that she and three other Democratic Senators have introduced a bill, the “Accountability for Wall Street Executives Act of 2017,” that would allow state attorneys general to issue...more

DOJ files opposition to English’s preliminary injunction motion

The DOJ has filed its opposition to Leandra English’s motion for a preliminary injunction in her action seeking a declaration that she, rather than Mick Mulvaney, has the legal right to serve as CFPB Acting Director....more

Credit union seeks preliminary injunction in SDNY case challenging Mulvaney’s appointment as CFPB Acting Director; parties submit...

As we’ve reported, Lower East Side People’s Federal Credit Union (“People’s”), filed suit in the Southern District of New York to block Mick Mulvaney’s appointment as CFPB Acting Director. On December 12, People’s filed a...more

The preclusive effect of a Congressional override of the CFPB dealer pricing bulletin: we think Professor Levitin’s premise is...

As we reported recently, the Government Accountability Office has determined that CFPB Bulletin 2013-02 on dealer pricing in indirect auto finance (“Dealer Pricing Bulletin” or “Bulletin”) is a “rule” subject to review under...more

Supreme Court Agrees to Decide Whether Statute of Limitations Bars Successive Class Actions

In China Agritech, Inc. v. Resh, the U.S. Supreme Court has agreed to decide an important and recurring class action issue that has divided the courts of appeals—does the tolling of the statute of limitations for class...more

English files motion for preliminary injunction, amended complaint in CFPB Acting Director dispute

As required by Judge Kelly’s scheduling order, yesterday afternoon Leandra English filed a motion for a preliminary injunction in her action seeking a declaration that she, rather than Mick Mulvaney, has the legal right to...more

Second lawsuit filed challenging Mulvaney’s appointment as CFPB Acting Director

Yesterday, the Lower East Side People’s Federal Credit Union filed a complaint in U.S. District Court for the Southern District of New York seeking a declaration that Mick Mulvaney’s appointment as CFPB Acting Director is...more

Court enters scheduling order in CFPB Acting Director dispute

Following a scheduling conference held earlier yesterday, Judge Kelly entered an order setting a briefing schedule and hearing date for Laurena English’s motion for a preliminary injunction in her action seeking a declaration...more

CFPB changes direction in enforcement action; Mulvaney names senior advisor

A new filing by the CFPB in its action against Nationwide Biweekly Administration Inc. may be an indicator of the enforcement philosophy of Mick Mulvaney, President Trump’s designee as CFPB Acting Director, and how that...more

Bipartisan group of lawmakers introduce CRA resolution to override CFPB payday loan rule

A bipartisan group of lawmakers has introduced a joint resolution under the Congressional Review Act to override the CFPB’s final payday/auto title/high-rate installment loan rule. House members sponsoring the bill consist...more

Federal Court Holds 30-Day Validation Notice Language Violates FDCPA

A federal district court in Pennsylvania recently granted summary judgment to a debtor in a lawsuit filed against a collection law firm under the Fair Debt Collection Practices Act (FDCPA)....more

English to seek preliminary injunction in CFPB Acting Director dispute

Leandra English has filed a Proposed Schedule confirming that she plans to file a motion for a preliminary injunction in her action for declaratory and injunctive relief filed in D.C. federal district court seeking a...more

Democratic Senators oppose Mulvaney freeze on payments from CFPB civil penalty fund/English reported to urge continued enforcement...

At a press conference on November 27, Mick Mulvaney, President Trump’s designee for CFPB Acting Director, is reported to have announced that he has placed a 30-day freeze on all regulatory action, CFPB hiring, and payments...more

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