The U.S. Department of the Treasury has issued a request for information (RFI) regarding online marketplace lending. The RFI reflects the Treasury Department’s recognition that online marketplace lending “is a rapidly...more
The CFPB has released a list of nine “Consumer Protection Principles” that are intended to express the CFPB’s “vision of consumer protection in new faster payments systems.” The CFPB has previously shown support for the...more
The Consumer Financial Protection Bureau has issued a final rule allowing it to supervise nonbank companies that qualify as “larger participants of a market for automobile financing.” Relatedly, it adopted simultaneously a...more
Federal Communications Commission (FCC) Chairman Tom Wheeler has issued a fact sheet describing his proposed declaratory rulings on various issues involving the FCC’s interpretation of the Telephone Consumer Protection Act...more
The U.S. Court of Appeals for the Second Circuit ruled last week that a purchaser of charged-off debts from a national bank was not entitled to assert the preemption of state usury laws available to national banks under...more
The U.S. Supreme Court has agreed to decide a case that could alter the landscape of federal class action litigation. Granting the defendant’s petition for certiorari in Campbell-Ewald Company v. Gomez, the Court will review...more
The U.S. Court of Appeals for the Ninth Circuit recently ruled that a debt collection letter seeking prejudgment interest on the debt did not violate the Fair Debt Collection Practices Act (FDCPA) or California’s Rosenthal...more
A federal district court in California has ruled that a state law prohibiting retailers from imposing a surcharge on credit card purchases placed an unconstitutional restriction on the retailers’ freedom of speech and is...more
The Federal Trade Commission—and numerous other federal, state, and local law enforcement agencies in the United States and Canada—recently announced that an enforcement initiative dubbed “Operation Ruse Control” has resulted...more
On March 23, the U.S. Supreme Court granted certiorari in DirecTV, Inc. v. Imburgia, agreeing to resolve a split between the Ninth Circuit and California state courts on how to interpret the same DirecTV arbitration...more