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Consumer Protection Finance & Banking Constitutional Law

Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:

Democratic lawmakers, Republican attorneys general submit amicus briefs in CFPB Acting Director dispute

by Ballard Spahr LLP on

Past and present Democratic Representatives and Senators filed an amicus brief in support of the motion for a temporary restraining order filed by Leandra English to block Mick Mulvaney from exercising the authority of CFPB...more

District Court Dismisses FACTA Complaint Because Plaintiff Fails To Allege An Injury-In-Fact

by King & Spalding on

On November 3, 2017, the U.S. District Court for the Southern District of New York dismissed a Fair and Accurate Credit Transaction Act (“FACTA”) complaint in Fullwood v. Wolfgang’s Steakhouse because the plaintiff failed to...more

Law Firm Attempts to Resist Subpoena by Arguing CFPB is Unconstitutional

by Dorsey & Whitney LLP on

In the wake of last year’s (now-vacated and pending review en banc) decision by the D.C. Circuit in PHH Corp. v. Consumer Fin. Prot. Bureau, 839 F.3d 1 (D.C. Cir. 2016), the constitutionality of the Consumer Financial...more

Business Groups File Federal Lawsuit to Challenge CFPB Arbitration Rule

by Foley & Lardner LLP on

On September 29, 2017, the U.S. Chamber of Commerce, the Texas Association of Business, and various other national and Texas statewide business organizations and trade groups (together, Plaintiffs) filed a federal lawsuit in...more

Will the Future Bring a Surge of Class Actions against Banks and Credit Card Companies?

On July 10, 2017, the Consumer Financial Protection Bureau formally issued its long-anticipated final rule banning class waivers in future arbitration agreements for banks, lenders, debt counselors, credit card issuers,...more

Second Circuit Holds Procedural FACTA Violation Insufficient to Establish Standing

by Fenwick & West LLP on

The U.S. Court of Appeals for the Second Circuit added its voice to the chorus of circuit courts of appeal to hold that allegations that defendants included the first six and last four digits of a plaintiff’s credit card...more

Fourth Circuit Issues Mixed-Bag Decision On Punitive Damages In FCRA Cases

Inevitably, when conscientious judges delve into the multi-dimensional issue of excessive punitive damages, they get some things right and other things wrong. Such is the case with the Fourth Circuit’s recent decision in...more

Another Court Finds the CFPB Constitutional

Ruling that the Consumer Financial Protection Bureau (CFPB) is constitutional and has the authority to act against companies without first adopting specific rules defining whether any specific practice is unfair, deceptive or...more

Still Standing: Ninth Circuit Again Finds Standing in Spokeo Remand

by Carlton Fields on

The Ninth Circuit recently issued its latest opinion in Spokeo, Inc. v. Robins, the closely-watched putative class action dating back to 2010. The plaintiff initiated the lawsuit against Spokeo, which aggregates publicly...more

Spokeo—Round 3: The Ninth Circuit Finds Alleged Statutory Violation Sufficiently “Concrete” To Satisfy Article III Standing

The Ninth Circuit recently issued its long-awaited opinion in Robins v. Spokeo, Inc., — F.3d —-, 2017 WL 3480695 (9th Cir. Aug. 15, 2017), on remand from the United States Supreme Court. Once again, the Ninth Circuit reversed...more

Concrete Enough to Stand: Ninth Circuit Upholds FCRA Claims in Spokeo

On August 15, 2017, the Ninth Circuit delivered the latest episode in the Robins v. Spokeo saga, reaffirming on remand from the Supreme Court that plaintiff Robins had alleged an injury in fact sufficient for Article III...more

Ninth Circuit Revisits Standing Analysis for Statutory Claims in Spokeo

by Dechert LLP on

On remand from the Supreme Court, the U.S. Court of Appeals for the Ninth Circuit has held for the second time that the plaintiff in Robins v. Spokeo, Inc. has standing to proceed in federal court with claims under the Fair...more

Eleventh Circuit Affirms Dismissal of FCRA Claim Finding that Interpretation of Act Was Objectively Reasonable

by Burr & Forman on

In Pedro v. Equifax, Inc., — F.3d —, 2017 WL 3623926 (11th Cir. 2017), the Eleventh Circuit held that it was not objectively unreasonable for TransUnion, LLC to interpret section 1681e(b) of the Fair Credit Report Act...more

9th Circuit Clarifies Standard For Article III Standing Based On Statutory Violations

On August 15, 2017, the 9th Circuit, in Thomas Robins v. Spokeo, Inc., reversed the district court’s dismissal of an action alleging willful violations of the Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 et seq. The 9th...more

Ninth Circuit Rules on Spokeo Remand

by Selman Breitman LLP on

On August 15, 2017, the Ninth Circuit ruled that a litigant who accused Spokeo of violating the Fair Credit Reporting Act by allegedly reporting inaccurate information about him had claimed a sufficiently concrete injury to...more

Financial Services Weekly News - August 2017 #3

by Goodwin on

Editor's Note - In This Issue. The Department of Labor (DOL) filed a Notice of Administrative Action seeking to delay the Fiduciary Rule until July 2019; federal banking agencies issued guidance on the capital treatment of...more

Alleged FCRA Violation Sufficiently Concrete for Article III Standing, Ninth Circuit Holds in Spokeo II

by Ballard Spahr LLP on

On remand from the U.S. Supreme Court, the U.S. Court of Appeals for the Ninth Circuit has held in Spokeo v. Robins that an alleged Fair Credit Reporting Act (FCRA) violation was sufficiently concrete to support Article III...more

Spokeo: On Remand From The U.S. Supreme Court, The Ninth Circuit Finds Plaintiff Has Standing, Again

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Following remand from the U.S. Supreme Court, the Ninth Circuit found that the plaintiff suing Spokeo, Inc. under the Fair Credit Reporting Act alleged sufficient injury to establish standing to proceed in...more

Ninth Circuit Revisits Article III Standing For An Alleged FCRA Violation

by Littler on

On August 15, 2017, the U.S. Court of Appeals for the Ninth Circuit issued another opinion in the saga of Robins v. Spokeo, Inc.—a case dealing with the question of what violations of a federal statute are sufficient to...more

The Seventh Circuit Finds No Standing in FCRA Case Based on Job Application Credit Reports

by Fenwick & West LLP on

The U.S. Court of Appeals for the Seventh Circuit held that allegations that prospective employers obtained consumer reports in technical violation of the Fair Credit Reporting Act by themselves do not constitute a concrete...more

District Court Rejects Servicer’s Argument that CFPB is Unconstitutional

by Goodwin on

?On August 4, 2017, the United States District Court for the Middle District of Pennsylvania denied a student loan servicer’s motion to dismiss claims brought against it by the Consumer Financial Protection Bureau (CFPB),...more

Middle District of Pennsylvania Ignores Key Constitutional Questions in Navient Case

by Ballard Spahr LLP on

As we’ve discussed before, the CFPB sued Navient over its student loan servicing practices in the Middle District of Pennsylvania. In doing so, the CFPB followed its strategy of announcing new legal standards by enforcement...more

DOJ invited to participate in Ocwen’s challenge to CFPB’s constitutionality

by Ballard Spahr LLP on

A Florida federal district court has granted the motion filed by Ocwen Financial Corporation to invite the U.S. Attorney General to express the AG’s views on the CFPB’s constitutionality....more

Lucia appeals D.C. Circuit ruling to Supreme Court

by Ballard Spahr LLP on

On July 21, 2017, an investment adviser sought review by the Supreme Court of the D.C. Circuit’s recent ruling in Lucia that allowed to stand a district court decision holding that SEC administrative law judges (“ALJs”) are...more

D.C. District Court Allows Payday Lenders’ Due Process Claims To Proceed In Case Against “Operation Choke Point”

by Ballard Spahr LLP on

On July 5, 2017, the U.S. District Court for the District Columbia, in the lawsuit filed in 2014 challenging “Operation Choke Point” — a federal enforcement initiative involving various agencies, including the Consumer...more

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