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

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

Continue Reading

Join Us on February 22 for a Complimentary Webinar on Bankruptcy and Debt Collection – Latest Trends and Developments

Continue Reading

2016 Consumer Financial Services Year in Review and a Look Ahead

Continue Reading

Join Us on February 9 for a Complimentary Webinar on Redlining and Fair Lending

Continue Reading

NY AG Settles with Acer for $115,000 over Data Breach

Continue Reading

Join Us on February 9 for a Complimentary Webinar on Redlining and Fair Lending

By Alan Wingfield on January 31, 2017

Join Troutman Sanders Partners James W. Stevens and Alan D. Wingfield on Thursday, February 9 at 12 p.m. ET for a complimentary webinar to discuss current trends and outlook for the key fair lending issues of redlining and disparate impact. Specific topics of discussion include the basics of federal regulators’ theories and methodologies in assessing redlining...
Attorney and Mortgage Relief Scam Operator Banned from Debt Relief Business
California Supreme Court Finds Two Payday Lenders Not Immune From State Lending Laws
Join Us for the ACI Consumer Finance Class Actions & Litigation Conference in Miami
CFPB Files Four Lawsuits Against Lenders for Violation of Truth In Lending Act

CFPB Orders MasterCard and UniRush to Pay $13 Million

By Brooke Conkle on February 13, 2017

On February 1, the Consumer Financial Protection Bureau ordered payment card companies MasterCard and UniRush to pay $10 million in restitution and a $3 million fine related to service breakdowns that left customers unable to access their funds.  “MasterCard and UniRush’s failures cut off tens of thousands of vulnerable consumers from their own money, and...
OCC Releases Semiannual Risk Perspective – January 2017
Join Us on February 22-24 for the NACHA Payments Innovation Alliance Meeting in Los Angeles
Join Us on February 9 for the ETA & BAFT for International Payments Policy Day in Washington, DC
Ninth Circuit Agrees to Remand Action to State Court Based on Spokeo

Validation Notice Including Request for Payment and Identifying Creditor by Acronym Does Not Violate FDCPA

By Ethan G. Ostroff on February 15, 2017

The United States District Court for the Southern District of California recently dismissed all of a plaintiff’s claims in the putative class action Matthew Stuppiello v. Southwest Credit Systems, L.P.   The Court held that a validation notice does not violate the Fair Debt Collection Practices Act by including a request for payment “and explain[ing] that...
CFPB Takes Action Against Law Firm Debt Collectors for Lack of Meaningful Involvement
Join Us on February 22 for a Complimentary Webinar on Bankruptcy and Debt Collection - Latest Trends and Developments
West Virginia Federal Court First Reconsiders, Then Restricts, Vicarious Liability for TCPA Claims in MDL
Student Loan Servicer Agrees to $17.5M TCPA Class Action Settlement

Third Circuit Finds Consumer Standing in FCRA Data Breach Litigation

By Tim J. St. George on January 25, 2017

On January 20, the Third Circuit in In re Horizon Healthcare Services Data Breach Litigation reversed a district court’s dismissal of a lawsuit under the Fair Credit Reporting Act involving a data breach at Horizon Healthcare.  The Third Circuit held that the plaintiffs had standing to pursue their claims under the FCRA without any accompanying...
Ninth Circuit Agrees to Remand Action to State Court Based on Spokeo
Plaintiff Has Standing in FCRA Class Action Suit, Says Pennsylvania Magistrate Judge
District Court Finds That “Complete and Up to Date” Requirement of FCRA § 1681K Does Not Include an Accuracy Component
Arkansas AG Files Suit Against Credit Repair Organization

Join Us on February 9 for a Complimentary Webinar on Redlining and Fair Lending

By Alan Wingfield on January 31, 2017

Join Troutman Sanders Partners James W. Stevens and Alan D. Wingfield on Thursday, February 9 at 12 p.m. ET for a complimentary webinar to discuss current trends and outlook for the key fair lending issues of redlining and disparate impact. Specific topics of discussion include the basics of federal regulators’ theories and methodologies in assessing redlining...
Supreme Court To Decide Whether Financing Company Collecting Debts Is A “Debt Collector” Under The FDCPA
Join Us for the ACI Consumer Finance Class Actions & Litigation Conference in Miami
Blue Shield and SQM Defeat TCPA Putative Class Action Following Spokeo
Join Us on November 3 for a Webinar on “The Ten Commandments to Avoid Lender Liability”

Court Denies Background Screener’s Spokeo Motion Related to Address History Reporting

By Ross Andre on February 16, 2017

On February 13, a judge in the United States District Court for the Southern District of New York denied a background screening company’s motion to dismiss a putative Fair Credit Reporting Act class action on the basis of the Supreme Court’s holding in Spokeo v. Robins, 136 S. Ct. 1540 (2016).  As has been the...
Blue Shield Avoids Potential TCPA Class Action Liability in Prerecorded Phone Call Case
Ninth Circuit Reverses Dismissal of Plaintiffs’ FCRA Complaint against Fannie Mae
Ban the Box Bill Passes Virginia State Senate, Awaits Review by House
New Jersey District Court Grants Michaels Stores’ Spokeo Motion on Consolidated FCRA Action

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

By Reade Jacob on February 08, 2017

On February 6, the FTC and the New Jersey Office of the Attorney General announced a $2.2 million settlement with Vizio, Inc. over allegations the TV manufacturer installed software on its TVs to collect viewing data on 11 million consumers without their knowledge or consent.  According to the complaint, Vizio manufactured smart TVs that allowed...
FTC’s Latest Message to IoT Industry Comes as Complaint Against D-Link Alleging UDAP Violation Related to Security Vulnerabilities
FDA’s Postmarket Management of Cybersecurity in Medical Devices
Student Loan Servicer Agrees to $17.5M TCPA Class Action Settlement
NHTSA and DOT Propose Rule Mandating Vehicle-to-Vehicle Communication on Light Vehicles

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

By Reade Jacob on February 08, 2017

On February 6, the FTC and the New Jersey Office of the Attorney General announced a $2.2 million settlement with Vizio, Inc. over allegations the TV manufacturer installed software on its TVs to collect viewing data on 11 million consumers without their knowledge or consent.  According to the complaint, Vizio manufactured smart TVs that allowed...
First Defendant Prosecuted Under New Arizona Telemarketing Law Pleads Guilty
CFPB Takes Action Against Law Firm Debt Collectors for Lack of Meaningful Involvement
FTC’s Latest Message to IoT Industry Comes as Complaint Against D-Link Alleging UDAP Violation Related to Security Vulnerabilities
NY AG Settles with Acer for $115,000 over Data Breach