A U.S. District Court in the Western District of Wisconsin recently denied both the defendant and plaintiff’s summary judgment motions in a Fair Credit Reporting Act (FCRA) case, holding that the reasonableness of the...more
10/27/2023
/ Consumer Reporting Agencies ,
Cross Motions ,
Debt Collection ,
Debt Collectors ,
Debtors ,
Dispute Resolution ,
Fair Credit Reporting Act (FCRA) ,
Financial Institutions ,
Financial Services Industry ,
Identity Theft ,
Reasonableness Factors ,
Summary Judgment
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
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
10/11/2023
/ Artificial Intelligence ,
Biden Administration ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Financial Protection Bureau v Community Financial Services Association of America Ltd ,
Consumer Protection Laws ,
Credit Reporting Agencies ,
Credit Reports ,
Debt Collection ,
Debt-Relief Industry ,
Department of Education ,
Department of Justice (DOJ) ,
EFTA ,
Fair Credit Reporting Act (FCRA) ,
FDIC ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Loan Forgiveness ,
Medical Debt ,
Office of Foreign Assets Control (OFAC) ,
SBREFA ,
Student Loans
On September 15, the U.S. District Court for the District of New Jersey denied the defendant’s summary judgment motion holding instead that a bank levy against the plaintiff served as a basis for standing to assert a claim...more
9/26/2023
/ Article III ,
Credit Cards ,
Debt ,
Debt Collection ,
FDCPA ,
Financial Institutions ,
Financial Services Industry ,
Levy ,
New Jersey ,
Standing ,
Statutory Violations
On September 7, the U.S. District Court for the Eastern District of Michigan granted summary judgment in the defendant’s favor finding that the plaintiff had not suffered a concrete injury and therefore lacked standing to...more
The Seventh Circuit Court of Appeals recently affirmed a district court’s dismissal of a suit holding that the plaintiff had not suffered a concrete injury, and therefore, lacked standing to assert a claim under the Fair Debt...more
On August 22, a district court judge in the Western District of New York denied the defendants’ motions to dismiss a case brought by the Consumer Financial Protection Bureau (CFPB) alleging violations of the Fair Debt...more
On August 18, a judge in the U.S. District Court for the Western District of New York granted the plaintiff’s motion for class certification for alleged violations of the Fair Debt Collections Practices Act (FDCPA) relating...more
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
8/15/2023
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptoassets ,
Debt Collection ,
DIFC ,
FDIC ,
Financial Regulatory Reform ,
Financial Services Industry ,
Mortgages ,
New Regulations ,
OCC ,
Securities and Exchange Commission (SEC)
On August 1, the U.S. Court of Appeals for the Tenth Circuit upheld a trial court’s order granting summary judgment in favor of a debt buyer holding that claim preclusion barred the plaintiff’s claims brought under the Fair...more
Last week, the Ninth Circuit Court of Appeals affirmed a lower court’s denial of preliminary injunctive relief to plaintiffs challenging Nevada Senate Bill 248 (S.B. 248), which places new restrictions on the collection of...more
6/26/2023
/ Constitutional Challenges ,
Coronavirus/COVID-19 ,
Debt Collection ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Financial Regulatory Reform ,
First Amendment ,
Medical Debt ,
Nevada ,
New Legislation ,
Preemption ,
Preliminary Injunctions ,
Section 7
On June 8, the Consumer Financial Protection Bureau (CFPB) announced that it had entered a consent order against medical debt collector Phoenix Financial Services for alleged violations of the Fair Credit Reporting Act (FCRA)...more
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 March 15, Judge Eve M. Reilly of the Circuit Court of Cook County, Illinois, dismissed a class action complaint based solely on the allegation that a collection letter was sent by a third-party letter vendor....more
As discussed here, in August 2020, a district court for the Middle District of Tennessee held that a medical provider’s third-party billing servicer did not qualify as a debt collector under the Fair Debt Collections...more
As discussed here, on September 8, 2022, an en banc panel of the Eleventh Circuit Court of Appeals reversed the district court’s decision that a debt collector’s outsourcing of its letter process to a third-party mail vendor...more
On January 11, the Consumer Financial Protection Bureau (CFPB) announced it reached a settlement with law firm Forster & Garbus, LLP in its lawsuit over alleged illegal debt collection practices. Specifically, the CFPB...more
As we previously discussed here, in March 2022, the D.C. Council of the District of Columbia Committee of the Whole met in a full hearing, in part to hear amendments introduced to B24-0357, known as the Protecting Consumers...more
Earlier this year, the Eleventh Circuit reversed the dismissal of a lawsuit when it held that monthly mortgage statements required by the Truth in Lending Act (TILA) and Regulation Z can constitute communications in...more
The standard courts should use to determine whether an alleged Fair Debt Collection Practices Act (FDCPA) violation is material remains unsettled. According to a recent Tenth Circuit decision, however, the standard should be...more
In a much anticipated decision released September 8, an en banc panel of the Eleventh Circuit Court of Appeals reversed the district court’s decision that a debt collector’s outsourcing of its letter process to a third-party...more
On August 25, the Office of Management and Budget (OMB) directed federal agencies involved in originating consumer and small business loans — including the Small Business Administration, Department of Veterans Affairs,...more
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
On June 29, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion focused on consumer debt collectors and the convenience fees they charge for some payments, such as online or by phone....more