News & Analysis as of

Putative Class Actions Truth in Lending Act (TILA)

Hudson Cook, LLP

Court Allows Claim that Purchase of Ancillary Product Was Condition of Credit to Proceed, Based on Alleged Verbal Representation

Hudson Cook, LLP on

The advertising, sale, and financing of products ancillary to a credit transaction have been areas of regulatory scrutiny for years. Likewise, the always crucial question of what constitutes a cost of credit to be included in...more

Alston & Bird

Class Action & MDL Roundup 2023 Q2 – Ascertainability Lives!

Alston & Bird on

Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the second quarter of 2023. In this edition, essential oils may need therapy, an ever-growing library goes nowhere, and one...more

Goodwin

Third Circuit Upholds Dismissal of TILA Claim Based on Failure to Itemize Annual Credit Card Renewal Notice Fees

Goodwin on

On Tuesday, April 11, 2023, a three-judge panel of the United States Court of Appeals for the Third Circuit affirmed the dismissal of a putative class action alleging that JP Morgan Chase Bank, N.A. (Chase) failed to itemize...more

Bilzin Sumberg

New Class Action Claims Non-Compliance with Mortgage Forbearance Mandates

Bilzin Sumberg on

Millions of homeowners have signed up for a forbearance under the CARES Act, which gives homeowners with a federally-backed mortgage loan the right to obtain a temporary reduction or suspension of mortgage payments by way of...more

Goodwin

Bank Fees Associated with Crypto Currency Purchases Contested

Goodwin on

The Southern District of New York is deciding whether a putative class action can proceed beyond the motion to dismiss phase in a lawsuit that may implicate how banks define crypto currency purchases, and how those purchases...more

Ballard Spahr LLP

Seventh Circuit Clarifies “Date of Receipt” of Online Mortgage Payment

Ballard Spahr LLP on

In a recent putative class action by borrowers against a mortgage servicer alleging violations of the Truth in Lending Act (“TILA”), the Seventh Circuit Court of Appeals found that mortgage servicers must credit electronic...more

Carlton Fields

Aggressive Regulators and the Plaintiffs’ Lawyers Who Follow Them

Carlton Fields on

As soon as a putative class action complaint hits the clerk’s office alleging a new theory of liability, plaintiffs’ lawyers rush to sign up potential class representatives and file copycat suits in as many jurisdictions as...more

Goodwin

Illinois Federal Court Rules on Dodd-Frank’s Truth in Lending Act Amendment

Goodwin on

The United States District Court for the Northern District of Illinois granted summary judgment denying a putative class action suit against a mortgage servicer for alleged violations of the Truth in Lending Act concerning...more

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