In Martinez v. Celtic Bank, the Southern District of New York recently denied a motion for summary judgment finding that a jury could consider an investigation reckless when a furnisher fails to review any records other than...more
We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more
2/1/2024
/ Automotive Loans ,
Banks ,
Class Action ,
Consumer Bankruptcy ,
Consumer Financial Products ,
Debt Collection ,
Digital Assets ,
Fair Lending ,
Financial Services Industry ,
FinTech ,
Mortgages ,
Student Loans ,
Tribal Loans ,
Uniform Commercial Code (UCC)
In Heinz v. Carrington Mortgage Services LLC, the Eighth Circuit held that the mere inclusion of boilerplate disclosure language does not transform an otherwise benign informational communication into one meant to induce...more
In Mikhael v. Credit Corp Solutions, Inc., the Eastern District of New York held that a letter alluding to the possibility of referring an account to an attorney for review does not constitute a threat to take imminent action...more
The Second Circuit Court of Appeals recently upheld a ruling that reporting a judgment as “satisfied” was accurate under the Fair Credit Reporting Act (FCRA) when the underlying lawsuit was dismissed by stipulation as...more
2020 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation, Troutman Pepper is uniquely positioned to help its clients find successful resolutions...more
3/3/2021
/ Background Checks ,
Banking Sector ,
Bankruptcy Code ,
Banks ,
CARES Act ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Debt Collection ,
Debt Collectors ,
ECOA ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Lenders ,
Student Loans ,
TCPA
In True Health Chiropractic Inc., et al. v. McKesson Corp., et al., the Northern District of California held that it was divested of jurisdiction by the Hobbs Act, 28 U.S.C. § 2342, and thus could not reconsider the validity...more
The Eastern District of New York recently decided a motion to dismiss, denying Defendant’s motion as to Plaintiff’s claims under the FCRA and dismissing Plaintiff’s claims under the FDCPA....more
A recently filed lawsuit places renewed scrutiny on the constitutionality of the nationwide residential eviction freeze put in place by the Centers for Disease Control and Prevention (“CDC”) in response to the ongoing...more
10/19/2020
/ Administrative Procedure Act ,
Amended Complaints ,
Centers for Disease Control and Prevention (CDC) ,
Constitutional Challenges ,
Due Process ,
Eviction ,
Foreclosure ,
Landlords ,
Moratorium ,
Preemption ,
Tenants