In this episode of The Consumer Finance Podcast, Chris Willis is joined by Partners Ron Raether and Tim St. George to discuss a landmark victory in a major data breach class action multidistrict litigation. The team delves...more
Maryland has joined the growing list of states to pass a law — the Judge Andrew F. Wilkinson Judicial Security Act — that allows current and former members of the Maryland judiciary to request certain of their personal...more
On May 13, Senator Joseph P. Cryan (D) introduced an amendment to New Jersey’s Daniel’s Law, which would broaden the law’s coverage. An identical amendment was introduced by Assemblywoman Annette Quijano (D) in the Assembly...more
On May 2, the U.S. Department of Housing and Urban Development (HUD) released two sets of guidance addressing the applicability of the Fair Housing Act (FHA) to two areas where, in the agency’s view, algorithmic processes and...more
5/15/2024
/ Advertising ,
Algorithms ,
Artificial Intelligence ,
Fair Housing Act (FHA) ,
Housing Discrimination ,
Housing Market ,
HUD ,
New Guidance ,
Rental Property ,
Screening Procedures ,
Tenants
Last week, the U.S. Department of Housing and Urban Development (HUD) issued a Notice of Proposed Rulemaking, seeking public comment on its proposal to amend existing regulations that govern admission to public housing and...more
4/16/2024
/ Comment Period ,
Criminal Records ,
HUD ,
Notice of Proposed Rulemaking (NOPR) ,
Property Owners ,
Proposed Rules ,
Public Comment ,
Public Housing ,
Regulatory Agenda ,
Rental Assistance Programs ,
Rental Property ,
Section 8 ,
Tenants
The legal landscape of consumer reporting continues to evolve with courts, federal regulators and state legislatures all playing roles in shaping this area of the law.
Originally published in Law360 - January 9, 2024....more
In this final episode of The Consumer Finance Podcast Year in Review series, host Chris Willis is joined by Tim St. George, a key member of our Consumer Financial Services Litigation team. They discuss the significant...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)
Please join Troutman Pepper Partner Dave Gettings and colleagues Tim St. George and Cindy Hanson for a highly informative discussion on federal preemption as it relates to state laws and the Fair Credit Reporting Act (FCRA)....more
Following several years of investigating the common practices in the space, the Federal Trade Commission (FTC) reached its first settlement with a data broker over the alleged collection and sale of location information that...more
1/18/2024
/ Consumer Financial Protection Bureau (CFPB) ,
Consumer Privacy Rights ,
Corporate Counsel ,
Data Brokers ,
Data Collection ,
Data Sellers ,
Data Selling ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Geolocation ,
Location Data ,
Personal Data ,
Request For Information ,
Settlement
On January 11, the Consumer Financial Protection Bureau (CFPB or Bureau) issued two “advisory opinions” addressing the CFPB’s views of the obligations of consumer reporting agencies (CRAs) under the Fair Credit Reporting Act...more
On December 20, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) filed a complaint in a Texas federal court against Colony Ridge Development, LLC (Colony Ridge), its affiliates, and Loan...more
12/22/2023
/ Borrowers ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Dodd-Frank ,
ECOA ,
Fair Housing Act (FHA) ,
False Statements ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Predatory Lending ,
UDAAP
On October 18, Judge Rebecca Beach Smith of the Eastern District of Virginia approved a $70 million settlement in an antitrust case, with more than $23.3 million awarded to the plaintiffs’ attorneys. This case helpfully...more
12/18/2023
/ Antitrust Litigation ,
Antitrust Violations ,
Attorney's Fees ,
Class Action ,
Drug Pricing ,
Litigation Fees & Costs ,
Motion for Summary Judgment ,
Motion to Dismiss ,
Pharmaceutical Industry ,
Prescription Drugs ,
Price-Fixing ,
Settlement ,
Settlement Negotiations
In July, the Consumer Financial Protection Bureau published a report highlighting various unfair, deceptive, and abusive acts or practices it claims to have uncovered during its supervisory examinations from July 2022 to...more
12/15/2023
/ Automotive Loans ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Debt Collection ,
Debt Collectors ,
ECOA ,
Fair Credit Reporting Act (FCRA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Lenders ,
Loans ,
Mortgages ,
Regulation B ,
Regulation V ,
Regulation Z ,
Unfair or Deceptive Trade Practices
The Fair Credit Reporting Act saw no shortage of activity in the first half of 2023. That activity included federal and state legislation. Congress has introduced several bills intended to amend the FCRA — and on the state...more
The first half of 2023 has produced significant developments for the Fair Credit Reporting Act. Important decisions have come from multiple areas of the field, including the federal courts of appeals and regulatory...more
11/30/2023
/ Amicus Briefs ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Consumer Reports ,
Credit Reporting Agencies ,
Credit Reports ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
Fraud ,
Identity Theft ,
Oral Argument
On October 24, the Biden-Harris administration announced amendments to the regulations implementing title IV of the Higher Education Act of 1965 (HEA). According to the fact sheet, the amendments are intended to allow the...more
11/3/2023
/ Biden Administration ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Education ,
Educational Institutions ,
Financial Aid ,
Financial Institutions ,
Higher Education Act ,
Public Comment ,
Statutory Requirements ,
Student Loans ,
Students ,
Title IV ,
Transcripts ,
Tuition
On October 12, the U.S. District Court for the Northern District of Illinois denied certification of a putative class action asserting that TransUnion violated the Fair Credit Reporting Act (FCRA) and the Missouri...more
A new enforcement action provides more detail on the expectations of the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) (collectively, the agencies) for the content of tenant screening reports....more
10/17/2023
/ Civil Penalty Fund ,
Class Action ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Rental Property ,
Screening Procedures ,
Tenants ,
TransUnion ,
TransUnion LLC v Ramirez
Recently, the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) (collectively, the agencies) filed an amici curiae brief urging the U.S. Court of Appeals for the Second Circuit to reverse a...more
The Consumer Financial Protection Bureau (CFPB) has started the process of issuing rules on several topics affecting the entire ecosystem that collects, sells, and uses data about consumers, according to an Outline of the...more
9/22/2023
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Data Brokers ,
Data Privacy ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Proposed Rules ,
Regulatory Agenda ,
Rulemaking Process ,
SBREFA
At a White House Roundtable on protecting Americans from allegedly harmful “data broker” practices, Consumer Financial Protection Bureau (CFPB or Bureau) Director Rohit Chopra announced the Bureau’s intention to expand the...more
8/17/2023
/ Artificial Intelligence ,
CFPB Director ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Brokers ,
Fair Credit Reporting Act (FCRA) ,
Final Rules ,
Financial Regulatory Reform ,
Financial Services Industry ,
Proposed Rules ,
Roundtable
A recent EDVA decision reinforced the point that removal to federal court must be based on the existence of either federal question or diversity jurisdiction, but not supplemental jurisdiction....more
On July 24, the California Office of Administrative Law approved the Civil Rights Council’s (the Council) proposed amendment to California’s Employment Regulations Relating to Criminal History, which are set to become...more
7/31/2023
/ Background Checks ,
Background Screening Services ,
California ,
Conditional Job Offers ,
Criminal Background Checks ,
Employees ,
Employer Liability Issues ,
Financial Services Industry ,
Hiring & Firing ,
Job Applicants ,
Labor Reform ,
State Labor Laws
Please join Troutman Pepper Partner Dave Gettings and colleagues Tim St. George and Jessica Lohr as they discuss the use of expert witnesses in FCRA cases. During this episode the team covers a multitude of relevant topics,...more