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’s Report on College Credit Card Agreements Shows 70% Decline from 2009

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Troutman Partner to Co-Chair ACI Cyber Security & Data Privacy Conference

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CFPB Requires Major Credit Reporting Agencies to Inform on Furnishers

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Eighth Circuit Court of Appeals Holds Foreclosure Trustee Not Liable for Alleged Breach of Fiduciary Duties to Plaintiff Borrowers

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Study by Consumer Credit Group Takes Issue with CFPB Method of Finding Auto Lending Bias

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Dish Network Gets Served: An Illinois Court Finds Massive Exposure for Violations of Telemarketing and Do-Not-Call Restrictions

By Alan Wingfield on December 18, 2014

On December 12, 2014, an Illinois federal judge found Dish Network LLC liable for participating in millions of unwanted telemarketing sales calls, where Dish Network could be subject to penalties exceeding $1 billion. Specifically, the District Court for the Central District of Illinois issued an opinion in United States of America v. Dish Network LLC...
Ohio Court Holds That Cell Phone Subscriber Who Never Received Unwanted Call Has Standing to Sue Under the TCPA
CFPB Charges Yet Another Mortgage Lender With Violations of the Loan Originator Compensation Rule
No End in Sight Yet for Conservatorship of Fannie Mae and Freddie Mac
FHFA to Issue Risk Management Guidance for Nonbank Mortgage Servicers Today

Dish Network Gets Served: An Illinois Court Finds Massive Exposure for Violations of Telemarketing and Do-Not-Call Restrictions

By Alan Wingfield on December 18, 2014

On December 12, 2014, an Illinois federal judge found Dish Network LLC liable for participating in millions of unwanted telemarketing sales calls, where Dish Network could be subject to penalties exceeding $1 billion. Specifically, the District Court for the Central District of Illinois issued an opinion in United States of America v. Dish Network LLC...
CFPB Sues Texas Company Offering Sham Credit Card
CFPB’s Report on College Credit Card Agreements Shows 70% Decline from 2009
Troutman Partner to Co-Chair ACI Cyber Security & Data Privacy Conference
Illinois Federal Court Dismisses Data Breach Lawsuit against P.F. Chang’s For Lack of Damages

Dish Network Gets Served: An Illinois Court Finds Massive Exposure for Violations of Telemarketing and Do-Not-Call Restrictions

By Alan Wingfield on December 18, 2014

On December 12, 2014, an Illinois federal judge found Dish Network LLC liable for participating in millions of unwanted telemarketing sales calls, where Dish Network could be subject to penalties exceeding $1 billion. Specifically, the District Court for the Central District of Illinois issued an opinion in United States of America v. Dish Network LLC...
Seventh Circuit Affirms Dismissal of FDCPA Lawsuit Under The Rooker-Feldman Doctrine
Ohio Court Holds That Cell Phone Subscriber Who Never Received Unwanted Call Has Standing to Sue Under the TCPA
CFPB Requires Major Credit Reporting Agencies to Inform on Furnishers
CFPB Issues Warning to Consumers and Springs Into Action Against Student Debt Relief Scams

CFPB Turns Its Focus to Medical Debt Collection

By David M. Gettings on December 15, 2014

On December 11, the Consumer Financial Protection Bureau released a report and accompanying press release regarding the intersection of medical debt and credit reporting.  This report reveals the staggering impact medical debt has on the credit reports of millions of Americans. The CFPB views medical debt as unique among debts because of the unpredictability by...
Troutman Partner to Co-Chair ACI Cyber Security & Data Privacy Conference
Ohio Court Holds That Cell Phone Subscriber Who Never Received Unwanted Call Has Standing to Sue Under the TCPA
CFPB Requires Major Credit Reporting Agencies to Inform on Furnishers
Massachusetts Enters Consent Judgment with Hospital Over Data Breach

Dish Network Gets Served: An Illinois Court Finds Massive Exposure for Violations of Telemarketing and Do-Not-Call Restrictions

By Alan Wingfield on December 18, 2014

On December 12, 2014, an Illinois federal judge found Dish Network LLC liable for participating in millions of unwanted telemarketing sales calls, where Dish Network could be subject to penalties exceeding $1 billion. Specifically, the District Court for the Central District of Illinois issued an opinion in United States of America v. Dish Network LLC...
Ohio Court Holds That Cell Phone Subscriber Who Never Received Unwanted Call Has Standing to Sue Under the TCPA
CFPB Requires Major Credit Reporting Agencies to Inform on Furnishers
Troutman Sanders Attorneys Publish Law360 Piece on DriveTime Settlement
First Large Auto Lender to Move to Flat Rate Financing Experiences Sharp Drop in Originations

Troutman Partner to Co-Chair ACI Cyber Security & Data Privacy Conference

By Ashley L. Taylor, Jr. on December 12, 2014

On January 15-16, 2015, the American Conference Institute (ACI) will host the 15th installment of the acclaimed Global Legal & Compliance Forum on Cyber Security & Data Privacy and Protection at the Washington Plaza Hotel in Washington, D.C.  This is a premier event for privacy officers, in-house counsel, senior executives, and outside attorneys specializing in...
Ohio Court Holds That Cell Phone Subscriber Who Never Received Unwanted Call Has Standing to Sue Under the TCPA
Debt Consulting Firm Settles with CFPB for $69,075
Massachusetts Enters Consent Judgment with Hospital Over Data Breach
CFPB Set to Hold Public Hearing on Medical Debt Collection in OKC

Seventh Circuit Affirms Dismissal of FDCPA Lawsuit Under The Rooker-Feldman Doctrine

By Tim J. St. George on December 17, 2014

In Harold v. Steel, the United States Court of Appeals for the Seventh Circuit affirmed dismissal of a Fair Debt Collection Practices Act (FDCPA) suit based on the Rooker-Feldman doctrine. In the case, a small claims court in Marion County, Indiana, entered a judgment against Kevin Harold for a little more than $1,000. He did...
Illinois Federal Court Dismisses Data Breach Lawsuit against P.F. Chang’s For Lack of Damages
Ohio Court Holds That Cell Phone Subscriber Who Never Received Unwanted Call Has Standing to Sue Under the TCPA
New York Federal Court Denies Injunction Barring Credit Card Processing Fee Payments
In the Technology Age, Video Could Become the New Audio

CFPB Sues Texas Company Offering Sham Credit Card

By Scott Kelly on December 18, 2014

On December 17, 2014, the Consumer Financial Protection Bureau (CFPB) sued Union Workers Credit Services, a Dallas-based company that allegedly deceived consumers into purchasing a sham credit card with a membership fee. The CFPB’s complaint charges the company with falsely advertising a general-use credit card that, in actuality, could only be used to buy products...
CFPB Turns Its Focus to Medical Debt Collection
CFPB’s Report on College Credit Card Agreements Shows 70% Decline from 2009
Troutman Partner to Co-Chair ACI Cyber Security & Data Privacy Conference
CFPB Requires Major Credit Reporting Agencies to Inform on Furnishers