A group of non-profit consumer advocacy organizations, the Conference of State Bank Supervisors, and the American Association of Residential Mortgage Regulators filed two separate briefs asking the U.S. Supreme Court to...more
12/21/2023
/ Amicus Briefs ,
Banks ,
Breach of Contract ,
Certiorari ,
Dodd-Frank ,
Escrow Accounts ,
Financial Institutions ,
Financial Services Industry ,
Interest Rates ,
Mortgages ,
National Bank Act ,
Preemption ,
SCOTUS
On November 20, a judge for the Southern District of New York granted a motion to dismiss a Fair Debt Collection Practices Act (FDCPA) class-action holding that a simple lack of a date on a model validation notice did not...more
On October 17, the Clearing House Association, LLC (Association) and National Automated Clearing House Association (Nacha) joined forces to submit an amicus brief in support of a credit union held liable by a district court...more
10/23/2023
/ Amicus Briefs ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Credit Unions ,
Due Diligence ,
Financial Fraud ,
Financial Institutions ,
Financial Services Industry ,
Fraudulent Concealment ,
Fund Transfers ,
Punitive Damages ,
Uniform Commercial Code (UCC)
Join Troutman Pepper Partners Chris Willis, Mary Zinsner, and Dave Gettings for an in-depth discussion about litigating elder financial exploitation cases. Elder abuse and financial exploitation of the elderly are increasing...more
On August 24, the U.S. District Court for the Southern District of Georgia denied the defendant’s motion to dismiss claims asserted under the Fair Debt Collections Practices Act (FDCPA), holding that for claims based on...more
Last year, a professional plaintiff obtained a judgment of over $828k in a case alleging 104 calls in violation of the Telephone Consumer Protection Act (TCPA). The district court in the Northern District of West Virginia...more
On August 23, Judge Rebecca Beach Smith issued a notable decision that serves as a stern warning to out-of-state counsel seeking to practice in the Eastern District — and, perhaps more so, to the local counsel who choose to...more
9/12/2023
/ Attorney Misconduct ,
Federal Rules of Civil Procedure ,
Jurisdiction ,
Legal Representatives ,
Local Rules ,
Mistrial ,
Motions to Quash ,
Pro Hac Vice ,
Revocation ,
Right to a Fair Trial ,
Subpoenas ,
Virginia ,
Witness Statements
In Valentine v. Mullooly, Jeffrey, Rooney & Fylnn LLP the U.S. District Court for the District of New Jersey found that the plaintiff had not suffered an injury in fact and therefore lacked standing to assert a claim under...more
9/7/2023
/ Article III ,
Consumer Lenders ,
Creditors ,
Debt Collectors ,
FDCPA ,
Financial Services Industry ,
Injury-in-Fact ,
Licenses ,
New Jersey ,
Standing ,
Statutory Violations
What are the most significant judicial decisions affecting class action litigation, and how might they impact your business?...more
8/11/2023
/ Appeals ,
Article III ,
ATDS ,
Auto-Dialed Calls ,
Class Action ,
Facebook Inc v Duguid ,
Petition for Writ of Certiorari ,
Robocalling ,
SCOTUS ,
Standing ,
TCPA ,
Telemarketing
In a matter involving the bona fide error defense to claims asserted under the Fair Debt Collections Practices Act (FDCPA), an Indiana court of appeals reversed a trial court’s order granting summary judgment in favor of the...more
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
If a financial institution unilaterally reopens a closed deposit account to process a transaction, does that constitute an unfair act or practice under the Consumer Financial Protection Act (CFPA)? According to the Consumer...more
On May 1, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule to establish consumer protections for residential Property Assessed Clean Energy (PACE) loans....more
On April 26, both the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) issued separate advisories warning against the risks associated with overdraft fees, particularly...more
Financial services industry groups are staunchly opposing a proposal by the Consumer Financial Protection Bureau (CFPB or Bureau) to require supervised nonbank entities to provide information about their use of certain terms...more
Yesterday, a three-judge panel of the Second Circuit Court of Appeals issued a unanimous opinion declining to follow the Fifth Circuit’s decision in Community Financial Services Association of America, Ltd. v. Consumer...more
A federal magistrate judge in Rhode Island has ruled that the Consumer Financial Protection Bureau (CFPB or Bureau) must produce three employees for depositions, denying the agency’s motion for a protective order....more
As discussed here, on July 27, 2022, the Eleventh Circuit Court of Appeals sua sponte vacated the district court’s approval of a $35 million class-action settlement in Drazen and Godaddy.com, LLC (Godaddy) v. Pinto. Although...more
The Arizona Court of Appeals recently clarified how the state’s debt collection statute of limitations applies to debt created by a land sale contract.
Arizona has a six-year statute of limitations to enforce installment...more
A new Fourth Circuit decision has thrown out of federal court a state-law privacy claim where the plaintiff alleged only a bare statutory violation without alleging “a nonspeculative, increased risk of identity theft,”...more
Bankers are opposing any effort by the Consumer Financial Protection Bureau (CFPB or Bureau) to reduce or eliminate the late fee safe harbor, citing a potentially significant adverse impact on community banks and credit...more
On December 21, 2022, outgoing Senator Pat Toomey (R-PA) introduced legislation entitled the Stablecoin TRUST Act of 2022 that would establish the first-ever federal regulatory framework for payment stablecoins. In the press...more
Is an arbitration provision enforceable if it is added to a bank’s deposit account agreement four years after the account is opened and contains no meaningful opt-out clause? According to the United States District Court for...more
In an October 27 letter, the American Bankers Association (ABA) expressed concern regarding a proposal currently being considered by the Consumer Financial Protection Bureau (CFPB) that would shift liability from consumers to...more
Please join Consumer Financial Services Partner Chris Willis and his colleagues and fellow Partners Mary Zinsner and Susan Flint as they discuss the current landscape of wire fraud scams in the financial services industry....more