Consumer Financial Services Law Monitor

Consumer Financial Services Law Monitor

monitoring the financial services industry to help companies navigate through regulatory compliance, enforcement, and litigation issues

CFPB Meets With Community Bankers to Discuss Use of Alternative Data in Credit Decisions

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Supreme Court Wavers During Oral Arguments in FDCPA Case That May Upend Entire Industry

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Join Us for a Complimentary Webinar – Post-Spokeo Survey – An Analysis of Trends and Developments in the Courts

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FTC and NJ AG Announce Settlement with Vizio over Collecting Consumer Viewing Habits

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2016 Consumer Financial Services Year in Review and a Look Ahead

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New WVCCPA Amendments are Enacted by Governor Justice

By Jason E. Manning on April 27, 2017

Senate Bill No. 563 amends several provisions of the West Virginia Consumer Credit Protection Act (WVCCPA). The Bill passed the West Virginia Senate and the House of Delegates with high approval margins, and was signed into law by Governor Jim Justice on April 21, 2017. These amendments to the WVCCPA will have an impact on...
Troutman Sanders Welcomes Amy Pritchard Williams
DOJ Brief Opposing CFPB Brings More Uncertainty
DOJ Issues New Guidance on Corporate Compliance Programs
Join Us on February 9 for a Complimentary Webinar on Redlining and Fair Lending

CFPB Publishes Guide to Prepaid Card Rule, Delays Rule’s Effective Date

By Brooke Conkle on April 12, 2017

At the end of January, the Consumer Financial Protection Bureau published its Prepaid Rule – Small Entity Compliance Guide.  The Bureau intends for the Guide to provide a user-friendly summary of the Prepaid Rule, issued in October, but cautions that the Guide is not a substitute for reviewing the Rule, Regulation E, or Regulation Z. ...
U.S. District Court Dismisses CFPB Case Against Payment Processor
CFPB Releases Monthly Report Highlighting Credit Card Complaints
Join Us on March 23 for a Complimentary Webinar on Electronic Fund Transfer Act (EFTA) – Latest Trends and Developments
Republicans Move to Roll Back CFPB Prepaid Card Rules

New WVCCPA Amendments are Enacted by Governor Justice

By Jason E. Manning on April 27, 2017

Senate Bill No. 563 amends several provisions of the West Virginia Consumer Credit Protection Act (WVCCPA). The Bill passed the West Virginia Senate and the House of Delegates with high approval margins, and was signed into law by Governor Jim Justice on April 21, 2017. These amendments to the WVCCPA will have an impact on...
Supreme Court Wavers During Oral Arguments in FDCPA Case That May Upend Entire Industry
CFPB Cracks Down on Collection Firm for Alleged Misrepresentation of Attorney Involvement
District Court Denies Motion to Dismiss Over Allegedly Misleading Statement About Time-Barred Debt
District of New Jersey Tosses FDCPA Putative Class Action

New WVCCPA Amendments are Enacted by Governor Justice

By Jason E. Manning on April 27, 2017

Senate Bill No. 563 amends several provisions of the West Virginia Consumer Credit Protection Act (WVCCPA). The Bill passed the West Virginia Senate and the House of Delegates with high approval margins, and was signed into law by Governor Jim Justice on April 21, 2017. These amendments to the WVCCPA will have an impact on...
Supreme Court Hears Oral Argument Involving Rule 23(f) Interlocutory Appeals
Join Us for a Complimentary Webinar - Post-Spokeo Survey - An Analysis of Trends and Developments in the Courts
Largest Settlement of FACTA Class Action Against Restaurant Chain Granted Preliminary Approval
Vague Allegations Of Actual Damages Insufficient To Withstand Motion To Dismiss On FCRA Negligence Claim

Supreme Court Wavers During Oral Arguments in FDCPA Case That May Upend Entire Industry

By Chad R. Fuller on April 20, 2017

On April 18, the United States Supreme Court heard long-awaited oral arguments in a case that addresses the fundamental issue of the definition of a “debt collector” under the Fair Debt Collection Practices Act.  The Supreme Court’s decision will resolve an existing Circuit split on whether an entity that purchases defaulted debts and then attempts...
High Call Volume Not Necessarily a Violation of FDCPA or Rosenthal Act
DOJ Issues New Guidance on Corporate Compliance Programs
Join Us on February 9 for a Complimentary Webinar on Redlining and Fair Lending
Supreme Court To Decide Whether Financing Company Collecting Debts Is A “Debt Collector” Under The FDCPA

California Approves New Regulations Regarding Consideration of Criminal History in Employment Decisions

By Tim J. St. George on April 27, 2017

On March 27, the Office of Administrative Law for the State of California announced new regulations that even further limit employers’ ability to consider a job applicant’s criminal history when making hiring decisions. Except if otherwise permitted by law, employers are prohibited from taking into consideration during the hiring process a number of enumerated offenses, including arrests...
North Carolina House Votes Overwhelmingly to “Ban the Box”
Join Us for a Complimentary Webinar - Post-Spokeo Survey - An Analysis of Trends and Developments in the Courts
Virginia Federal Court Dismisses FCRA Permissible Purpose Claim on Standing Grounds
Court Rejects FCRA Background Check Settlement As Providing Insufficient Recovery For Class Members In Light Of Ninth Circuit Ruling

FTC and NHTSA to Hold Workshop on Connected Vehicles

By Megan Nicholls on April 24, 2017

The Federal Trade Commission and the National Highway Traffic Safety Administration are teaming up to hold a workshop on June 28, 2017 related to privacy and security issues posed by connected vehicles.  The FTC has requested that comments related to this issue be submitted online or by mail by May 1. “Connected vehicles” include most...
Supreme Court Hears Oral Argument Involving Rule 23(f) Interlocutory Appeals
$5.3M Settlement of TCPA Class Action Against Taxi Cab Companies Preliminarily Approved
Ninth Circuit Reverses District Court’s Dismissal of Putative TCPA Class Action
Largest Settlement of FACTA Class Action Against Restaurant Chain Granted Preliminary Approval

CFPB Meets With Community Bankers to Discuss Use of Alternative Data in Credit Decisions

By Ashley L. Taylor, Jr. on April 27, 2017

On April 25, the Consumer Financial Protection Bureau held its Spring 2017 Community Bank Advisory Council meeting in Washington.  The purpose of the meeting was to allow representatives from community banks an opportunity to provide additional input on the Bureau’s Request for Information (“RFI”) on the use of alternative data to assess creditworthiness of consumers...
CFPB Publishes Guide to Prepaid Card Rule, Delays Rule’s Effective Date
Multistate Coalition of AGs Calls on Congress to Support Consumer Protections for Prepaid Debit Cards
U.S. District Court Dismisses CFPB Case Against Payment Processor
Troutman Sanders Welcomes Amy Pritchard Williams