News & Analysis as of

Amended Complaints Financial Services Industry

Hudson Cook, LLP

CFPB and New York AG Announce Settlement that Includes Permanent Industry Bans Against Debt Collection Companies and Employees

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HIGHLIGHTS: CFPB and the New York Attorney General ("NY AG") announced a proposed settlement of a lawsuit—originally filed in September 2020—against six interrelated companies and five individual defendants. The various...more

Womble Bond Dickinson

Southern District of New York Reaffirms That Seven-Year Window for Reporting Delinquent Account Resets Following Cure and Later...

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On February 1, 2021, the Southern District of New York denied Jason Wimberley’s motion to file a second amended complaint finding that despite the liberal standard applied to pro se pleadings, his proposed second amended...more

Lowenstein Sandler LLP

Credit Card ABS: Capital One Affiliates Secure Dismissal of Putative Class Action Alleging Usury

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In the most recent development in Cohen v. Capital One Funding LLC, a case seeking to certify a class asserting that New York State’s usury laws can apply to securitized credit card debts, Capital One-affiliated defendants...more

Ballard Spahr LLP

Trade groups file summary judgment motion in Texas lawsuit challenging CFPB payday loan rule

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The industry trade groups challenging the CFPB’s final rule on Payday, Vehicle Title, and Certain High-Cost Installment Loans (the Rule) have filed a motion for summary judgment. The motion follows the filing of an Amended...more

Womble Bond Dickinson

Fifth Circuit Affirms Dismissal FCRA Claims Based on Failure to Include a Single Credit Item on Credit Reports

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In Hammer v. Equifax, the Fifth Circuit affirmed the district court’s dismissal of FCRA claims against Experian and Equifax in a September 9, 2020 published decision. Accepting the allegations of the twice amended...more

Ballard Spahr LLP

Trade Groups File Amended Complaint In Texas Lawsuit Challenging CFPB Payday Loan Rule

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On August 28, 2020, the industry trade groups challenging the CFPB’s final Rule on Payday, Vehicle Title, and Certain High-Cost Installment Loans (the Rule) filed their Amended Complaint in accordance with the briefing...more

Troutman Pepper

Colorado Attorney General Announces Landmark Settlement in True Lender Litigation Actions

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In January 2017, the Attorney General of Colorado filed two lawsuits against Marlette Funding LLC and Avant of Colorado LLC. Among other things, the lawsuits claimed that these two companies, as the online platforms for loans...more

Hudson Cook, LLP

Fair Lending Developments in the Wake of City of Miami

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[co-author: John L. Ropiequet] The fair lending cases filed by Miami against large mortgage lenders in 2013, in which the city sought to recover lost property tax revenues and increased municipal expenses allegedly caused...more

A&O Shearman

Northern District Of California Dismisses Putative Class Action Against Digital Payments Company For Failure To Adequately Allege...

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On September 18, 2019, Judge Edward M. Chen of the United States District Court for the Northern District of California dismissed a putative class action against a digital payment services company and certain of its officers...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending March 23, 2018

Carlton Fields on

Foreclosure / Amendments to Conform to Evidence: trial court erred in allowing Wells Fargo to amend its complaint during trial to conform to evidence presented of two unpled modification agreements – Tracey v. Wells Fargo...more

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