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)
The Utah court of appeals has recently affirmed the dismissal of a plaintiff’s suit against a debt buyer based on its alleged failure to register as a collection agency prior to filing collection lawsuits. The court’s...more
A significant decision from a California state appeals court has shifted the legal landscape for technical Fair Credit Reporting Act claims brought in California state court in favor of defendants.
Originally published in...more
6/30/2023
/ Appeals ,
Article III ,
Background Checks ,
CA Supreme Court ,
California ,
Demurrers ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Hiring & Firing ,
Injury-in-Fact ,
Job Applicants ,
Standing
Last week the U.S. Supreme Court issued a 5-4 decision in Coinbase, Inc. v. Bielski, holding that a district court must stay its proceedings while an interlocutory appeal on the question of arbitrability is pending. The...more
6/26/2023
/ Arbitration ,
Automatic Stay ,
Coinbase ,
Coinbase Inc v Bielski ,
Cryptocurrency ,
Federal Arbitration Act ,
Griggs v Provident Disc Co ,
Interlocutory Appeals ,
Motion to Compel ,
SCOTUS ,
Stays
In a significant boost to the financial services industry, Utah has taken major steps to streamline its debt collection bureaucracy — including the removal of criminal penalties for failure to comply with technical...more
On January 24, the U.S. District Court for the Eastern District of California took the unusual step of declining to sign off — for the fourth time — on a proposed settlement, resulting from a putative class-action lawsuit...more
On September 15, a Ninth Circuit panel in a 2-1 decision vacated a preliminary injunction, which has blocked enforcement of California Assembly Bill (AB) 51 since January 2020. The decision also partially struck down the...more
On December 30, 2020, Judge Richard J. Leon on the United States District Court for the District of Columbia entered an Order in PayPal, Inc. v. Consumer Financial Protection Bureau, et al., No. 19-3700-RJL, 2020 WL 7773392...more