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

Join Us on December 14 for a Webinar on Impact of Trump Administration for Banking & Financial Services Industry

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D.C. Circuit Rules CFPB “For Cause” Removal of the Director Unconstitutional, but Declines to Shut it Down

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Supreme Court Grants Cert. In FDCPA Claim Related to Filing of Stale Claims in Bankruptcy

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CFPB Issues Final Prepaid Card Rule

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Blue Shield and SQM Defeat TCPA Putative Class Action Following Spokeo

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Troutman Sanders Partner John Lynch Awarded Law 360 MVP Award

By John C. Lynch on November 23, 2016

Troutman Sanders is pleased to announce that partner John Lynch has been recognized as an MVP in Consumer Protection by Law 360. The series recognizes MVPs in a variety of categories, including Consumer Protection. According to Law360, MVPs have distinguished themselves from their peers by securing hard-earned successes in high-stakes litigation, complex global matters and record-breaking...
Ninth Circuit Holds Trustees Performing Non-Judicial Foreclosures Are Not Debt Collectors Pursuant to FDCPA
California Court Grants Final Approval of $1.5 Million TCPA Robocall Settlement
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”

Summary Judgment Briefing in Costco Receipt Class Action

By Julie Hoffmeister on November 30, 2016

As we previously reported, the named plaintiff in Paci v. Costco Wholesale Corporation filed a Fair Credit Reporting Act putative class action against Costco alleging that the retailer’s receipts contained more digits of the payment card’s account number than is permitted under the Act.  The parties recently filed cross-motions for summary judgment.  Costco argued that...
CFPB Publishes Prepaid Card Fact Sheet
CFPB Sues Company and Outside Counsel for Alleged Violations of State Law Concerning Structured Settlement Factoring
FTC Alleges Prepaid Card Company Deceptively Marketed Reloadable Debit Cards
CFPB to Publish Public List of Companies Offering Free Credit Scores

$11 Million Judgment Entered Against Debt Collectors in FTC Action

By Julie Hoffmeister on November 29, 2016

The United States District Court for the Western District of New York recently granted the Federal Trade Commission’s motion for summary judgment and entered a final order against a group of debt collectors who pretended to be affiliated with the government, and ordered them to pay nearly $11 million.    In Federal Trade Commission v. Federal...
FCRA Lawsuits Increase in 2016
What’s In a Barcode?: District Court in Eleventh Circuit Adopts Benign Language Exception for Debtor’s Account Number
Consumers Duped by Telemarketing Debt Collection Scheme Will Soon See Refund Payment
Ninth Circuit Holds Trustees Performing Non-Judicial Foreclosures Are Not Debt Collectors Pursuant to FDCPA

Summary Judgment Briefing in Costco Receipt Class Action

By Julie Hoffmeister on November 30, 2016

As we previously reported, the named plaintiff in Paci v. Costco Wholesale Corporation filed a Fair Credit Reporting Act putative class action against Costco alleging that the retailer’s receipts contained more digits of the payment card’s account number than is permitted under the Act.  The parties recently filed cross-motions for summary judgment.  Costco argued that...
FCRA Lawsuits Increase in 2016
California Court Grants Final Approval of $1.5 Million TCPA Robocall Settlement
Join Us on November 10 for a Discussion on Spokeo
TD Bank USA Escapes State Law Credit Reporting Class Action

Blue Shield and SQM Defeat TCPA Putative Class Action Following Spokeo

By Justin M. Brandt on October 10, 2016

U.S. District Judge Cathy A. Bencivengo recently dismissed a plaintiff’s TCPA putative class claim due to lack of standing required under Article III.  In Anton Ewing v. SQM US, Inc. et al., No. 3:16-cv-1609-CAB-JLB (S.D. Cal., Sept. 29, 2016), the plaintiff alleged that he received a single survey call made by SQM on Blue Shield’s...
Join Us on November 3 for a Webinar on “The Ten Commandments to Avoid Lender Liability”
Join Us at the Institute of Continuing Legal Education in Georgia’s Class Actions Seminar
FCC Sets Tight Boundaries for TCPA Government-Backed Loan Exception
FTC Consent Order With Two Ohio Auto Dealers Resolves Misleading Advertising Claims

District Court Wrestles with Interpretation of Webpage in Background Check Disclosure Lawsuit

By David M. Gettings on November 29, 2016

The Fair Credit Reporting Act requires that employers provide prospective applicants with a disclosure before obtaining a pre-employment background check from a consumer reporting agency.  This disclosure must be in a single document that consists “solely of the disclosure” that a consumer report may be obtained for employment purposes.  In Burnthorne-Martinez v. Sephora USA, Inc.,...
FTC Issues Bulletin for Consumers Applying for Apartments and for Handling Background Check Process
FCRA Lawsuits Increase in 2016
District Court Finds Receipt of Allegedly Improper Background Check Disclosure is Sufficient to Confer Standing Under Spokeo
California Court Grants Final Approval of $1.5 Million TCPA Robocall Settlement

Summary Judgment Briefing in Costco Receipt Class Action

By Julie Hoffmeister on November 30, 2016

As we previously reported, the named plaintiff in Paci v. Costco Wholesale Corporation filed a Fair Credit Reporting Act putative class action against Costco alleging that the retailer’s receipts contained more digits of the payment card’s account number than is permitted under the Act.  The parties recently filed cross-motions for summary judgment.  Costco argued that...
Text Messaging TCPA Class Action Against Workforce Staffing Company Results in $5 Million Settlement
FTC Issues Comments on NHTSA’s Federal Automated Vehicles Policy
Parties Seek Final Approval of $2.15 Million TCPA Class Action Settlement Against Marketing Services Company
Casino Settles TCPA Class Action in Alabama Federal Court

CFPB Publishes Prepaid Card Fact Sheet

By Brooke Conkle on November 29, 2016

On November 15, the Consumer Financial Protection Bureau issued a fact sheet to highlight the new requirements and deadlines imposed by the Bureau’s latest Prepaid Rule, which was finalized last month.  The fact sheet notes the effective dates of new requirements under the Rule and lists any related exceptions or accommodations.  The Bureau issued the...
FTC Issues Comments on NHTSA’s Federal Automated Vehicles Policy
Consumers Duped by Telemarketing Debt Collection Scheme Will Soon See Refund Payment
Join Us on December 14 for a Webinar on Impact of Trump Administration for Banking & Financial Services Industry
CFPB to Publish Public List of Companies Offering Free Credit Scores