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
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)
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
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
On December 15, 2022, the parties in TransUnion LLC v. Ramirez — a case that went all the way to the Supreme Court in 2021 to resolve questions of Article III standing — obtained final approval of their class settlement...more
Join Troutman Pepper Consumer Financial Services Partner Chris Willis and fellow Partners Cindy Hanson and Tim St. George as they discuss current trends in Fair Credit Reporting Act litigation. Both Cindy and Tim are...more
Following an unprecedented year, lawsuits under the Fair Credit Reporting Act continue to be filed with ever-increasing frequency and consequence.
Originally published in Law360 on January 28, 2022. ...more
Despite overlap of alleged putative nationwide class definitions, the Judicial Panel on Multidistrict Litigation (JPML) denied Geico’s attempt to consolidate five class-action lawsuits arising from a data breach notification...more
Today, the Supreme Court issued its opinion in TransUnion LLC v. Ramirez, holding that a concrete injury requires more than the existence of a risk of harm that never materializes. Accordingly, the vast majority of the absent...more
This article addresses the practical issues that arise when a class action defendant, in fact, wins a challenge to the named plaintiff’s Article III standing in federal court. How does such a ruling affect absent class...more
Colloquially known as the ‘‘Rocket Docket,’’ the Eastern District of Virginia (‘‘EDVA’’) has been the speediest federal court for civil trials since 2008, according to the annual data compiled by the Administrative Office of...more
8/24/2020
/ Actual Damages ,
Article III ,
Bristol-Myers Squibb Co v Superior Court of California - San Francisco County ,
Class Action ,
Class Certification ,
Credit Reports ,
Defense Strategies ,
Dismissals ,
EFTA ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
FRCP 23(a) ,
Injury-in-Fact ,
Personal Jurisdiction ,
Remand ,
Standing ,
Statutory Damages ,
Statutory Violations ,
Truth in Lending Act (TILA)