Welcome to the Auto Loan Origination and Servicing chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
We anticipate that the CFPB will continue its attempts to combat...more
2/16/2024
/ Automotive Loans ,
CARS Rule ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Enforcement Actions ,
False Advertising ,
Fees ,
Race Discrimination ,
Unfair or Deceptive Trade Practices
Welcome to the Credit Reporting chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
The CFPB’s announcement of a proposed rulemaking to remove medical bills from...more
2/15/2024
/ Annual Reports ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Credit Reporting Agencies ,
Credit Reports ,
ECOA ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Financial Services Industry ,
Medical Bills ,
Medical Debt
Welcome to the Credit, Debit, or Prepaid Cards and Consumer Banking chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
We expect continued focus by the CFPB on “junk”...more
2/15/2024
/ Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Debit Cards ,
Discriminatory Lending Practices ,
Enforcement Actions ,
Excessive Fees ,
Fees ,
Financial Services Industry ,
Popular ,
Prepaid Payment Products ,
Regulation Z ,
Rulemaking Process
Welcome to the Student Lending chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
The CFPB will likely continue to focus on junk fees, nontransparent and other...more
The American Arbitration Association (AAA) has amended its Mass Arbitration Supplementary Rules and fee schedules applicable to certain consumer and employment arbitrations, effective January 15, 2024. The AAA announced that...more
On November 22, 2023, the FCC released a Second Report and Order, Further Notice of Proposed Rulemaking, and Waiver Order (Report and Order) outlining new, proposed rules implementing the Telephone Consumer Protection Act, 47...more
The Authors previously published the below client alert on June 8, 2023, analyzing privacy litigation under the California Invasion of Privacy Act (CIPA) and other wiretap statutes in Pennsylvania and Maryland. We provide...more
Nearly two years ago, the Florida legislature amended Florida’s Telephone Solicitation Act (FTSA), Fla. Stat. § 501.059, resulting in voluminous consumer class action and other litigation after there had previously been next...more
6/23/2023
/ Amended Legislation ,
Auto-Dialed Calls ,
Facebook Inc v Duguid ,
Marketing ,
Prior Express Consent ,
Robocalling ,
TCPA ,
Telecommunications ,
Telemarketing ,
Text Messages ,
Unsolicited Phone Calls
The pace of internet consumer privacy class action litigation is skyrocketing. Remarkably, no specific legislative change in the law triggered the increase in litigation. Instead, the driver of this litigation explosion — in...more
6/9/2023
/ Class Action ,
Corporate Counsel ,
Data Privacy ,
Defense Strategies ,
Eavesdropping ,
Electronic Communications ,
Internet ,
Invasion of Privacy ,
Popular ,
Risk Mitigation ,
Smartphones ,
Statutory Interpretation ,
Third-Party Service Provider ,
Websites ,
Wiretapping
In April 2021, the US Supreme Court issued its decision in Facebook v. Duguid narrowly construing the Telephone Consumer Protection Act’s (TCPA) “automatic telephone dialing system” definition. In so doing, the Supreme Court...more
2022 saw a flurry of regulatory activity by federal enforcement agencies — most notably, the Consumer Financial Protection Bureau (CFPB, or Bureau) — as the industry began to experience the full effects of the change in...more
2/22/2023
/ Automotive Loans ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Cards ,
Credit Reports ,
Debt Collection ,
Financial Services Industry ,
FinTech ,
Mortgages ,
Payday Loans ,
Prepaid Payment Products ,
Privacy Laws ,
Student Loans
Coordinated actions taken by federal regulators and enforcement agencies over the last year have demonstrated a new focus on assailing two distinct practices in digital advertising: the use of algorithms for targeting...more
On November 2, 2022, the Pennsylvania Office of Attorney General filed a lawsuit in federal court alleging that a group of companies offering lead generation services violated the Telemarketing Sales Rule (“TSR”), 16 C.F.R....more
Since becoming law in July 2021, Florida’s Telephone Solicitation Act (FTSA), Fla. Stat. § 501.059(8)(a), has been a favorite of plaintiffs’ lawyers seeking to take advantage of its ambiguous restrictions on certain sales...more
6/1/2022
/ ATDS ,
Auto-Dialed Calls ,
Constitutional Challenges ,
Corporate Counsel ,
Dormant Commerce Clause ,
Facebook Inc v Duguid ,
First Amendment ,
Preemption ,
Prior Express Consent ,
Private Right of Action ,
Subway ,
TCPA ,
Telephone Sales ,
Text Messages
[co-authors: Amelie Hopkins, and Collin Grier]
The year 2021 started with the hope of COVID-19 vaccines and a return to (relative) normalcy, only to conclude with new variants that presented new challenges and extended...more
2/23/2022
/ AMG Capital Management LLC v FTC ,
Automotive Loans ,
Banking Sector ,
Borrowers ,
Collins v Yellin ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Act ,
Credit Reporting Agencies ,
Credit Reports ,
Creditors ,
Debit and Credit Card Transactions ,
Debt Collection ,
Debtors ,
Dodd-Frank ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
Lenders ,
Loan Servicing ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Payday Loans ,
Prepaid Payment Products ,
SCOTUS ,
Settlement ,
Small Dollar Lenders ,
Student Loans ,
TCPA ,
TransUnion LLC v Ramirez
Restrictions on telemarketing to Florida residents are about to get tighter. Just a few months ago, in Facebook, Inc. v. Duguid, 592 U.S. ___ (2021), the U.S. Supreme Court ruled that for the purposes of the Telephone...more
7/28/2021
/ ATDS ,
Auto-Dialed Calls ,
Do Not Call List ,
Facebook Inc v Duguid ,
Prior Express Consent ,
Random or Sequential Number Generator ,
Robocalling ,
TCPA ,
Telemarketing ,
Text Messages ,
Written Consent
Financial Services, Healthcare, and Technology sector clients — and any company that places non-marketing calls or text communications to customers by automated means — should pay close attention to two new FCC orders from...more
1/15/2021
/ ATDS ,
Auto-Dialed Calls ,
Call Blocking ,
Cell Phones ,
FCC ,
Opt-Outs ,
Prior Express Consent ,
Robocalling ,
Section 8 ,
TCPA ,
Telecommunications ,
Text Messages ,
TRACED Act
The cannabis industry is growing rapidly and so too are lawsuits against industry participants. One of the fast-emerging litigation threats is claims against cannabis companies for violation of the federal Telephone Consumer...more
Early uncertainty and the initial lapse in appropriations for the U.S. CARES Act’s Paycheck Protection Program (PPP) set off a wave of litigation by disgruntled small businesses who have been unable to secure PPP loans. PPP...more
4/27/2020
/ Borrowers ,
CARES Act ,
Class Action ,
Coronavirus/COVID-19 ,
Financial Institutions ,
Lenders ,
Loan Applications ,
Paycheck Protection Program (PPP) ,
SBA ,
SBA Lending Programs ,
Small Business
Over the past several weeks, the coronavirus (COVID-19) pandemic has sparked a litany of new orders, rules, laws, guidance, and plain asks from federal and state leaders, agencies, and courts. The President and federal and...more
3/27/2020
/ Banking Sector ,
Borrowers ,
Consumer Financial Products ,
Consumer Lenders ,
Coronavirus/COVID-19 ,
Debt Collection ,
Financial Services Industry ,
Forbearance Agreements ,
Foreclosure ,
Late Fees ,
Moratorium ,
New Guidance ,
New Legislation ,
New Rules ,
Student Loans
It is imperative that financial institutions stay abreast of COVID-19-related issues as they develop and consider the risks of failing to implement the various policies espoused in the federal and state orders and guidance,...more
3/26/2020
/ Consumer Financial Products ,
Consumer Lenders ,
Coronavirus/COVID-19 ,
Debt Collection ,
Financial Services Industry ,
Forbearance Agreements ,
Foreclosure ,
Moratorium ,
Relief Measures ,
State of Emergency ,
Student Loans
On March 16, 2018, the U.S. Court of Appeals for the D.C. Circuit issued its long-awaited decision in ACA International v. FCC, invalidating several key pieces of the FCC’s 2015 Telephone Consumer Protection Act (TCPA)...more
3/20/2018
/ Auto-Dialed Calls ,
Declaratory Rulings ,
Exemptions ,
FCC ,
Mobile Devices ,
Opt-Outs ,
Prior Express Consent ,
Reassigned Phone Numbers ,
Revocation ,
Robocalling ,
Smartphones ,
TCPA ,
Telemarketing ,
Wireless Devices
On March 16, 2018, the U.S. Court of Appeals for the D.C. Circuit issued its long-awaited decision in ACA International v. FCC, invalidating several key pieces of the FCC’s 2015 Telephone Consumer Protection Act (TCPA)...more
In 2015, the consumer financial services industry continued to face increasing pressure, from regulators and government enforcement activity, and ever-more creative litigation tactics. In order to stay competitive—and to...more
2/24/2016
/ Auto Lease ,
Consumer Financial Products ,
Corporate Counsel ,
Credit Cards ,
Debt Collection ,
Lending ,
Loans ,
Mortgage Servicers ,
Payday Loans ,
Popular ,
Student Loans ,
TCPA ,
TILA-RESPA Integrated Disclosure Rule (TRID)
Late last year, the Federal Trade Commission (FTC) revealed an ongoing nationwide enforcement initiative targeting debt collectors, called Operation Protection Collection. The initiative is the first of its kind coordinated...more