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

Chad R. Fuller

Chad R. Fuller

Blog Role:
Editor – State Attorneys General, CFPB & FTC

CFS Value:
Chad specializes in the defense of consumer class actions and general business litigation. He is one of the few attorneys in the country that has tried TCPA cases to verdict.

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New Federal Appeals Court Ruling Provides Ray of Sunshine for TCPA Defendants: Contractual Consent to Receive Calls Cannot be Revoked

Posted in ALL CFS Blog Entries, Auto Finance, Debt Buyers & Collectors, Featured Posts
Lawsuits under the Telephone Consumer Protection Act (TCPA) have become the second most common form of consumer protection claim brought in federal court. Many of these lawsuits are premised on the idea that a consumer has the absolute right to revoke previously given consent to receive calls. A calling party could be subject to statutory… Continue Reading

Supreme Court Refuses to Extend the Scope of the FDCPA to Consumer Finance Company

Posted in ALL CFS Blog Entries, Debt Buyers & Collectors, Featured Posts
On June 12, 2017, the United States Supreme Court rendered a unanimous decision holding that a company collecting debts that it purchased for its own account does not meet the statutory definition of “debt collector” under the Fair Debt Collection Practices Act (FDCPA) because the debts are no longer “owed or due another.” We previously… Continue Reading

Join Us at the 2017 ACA International Convention & Expo in Seattle July 16-18

Posted in ALL CFS Blog Entries, CFS Events, Debt Buyers & Collectors
We are pleased to announce that Troutman Sanders partners David Anthony and Chad Fuller will be a featured speaker at the 2017 ACA International Convention & Expo in Seattle at the Washington State Convention Center on July 16-18. David will discuss “Debt Collection Litigation Management Best Practices,” where he will focus on litigation management best practices for… Continue Reading

TCPA Is Not Dead Yet – Court Trebles Eight Figure TCPA Award While World Awaits ACA Decision

Posted in ALL CFS Blog Entries, Cyber Security, Information Governance & Privacy, Debt Buyers & Collectors, Mortgage Lenders & Servicers
While the world eagerly awaits the D.C. Circuit’s forthcoming ruling on the proper interpretation of the Telephone Consumer Protection Act (TCPA), a recent federal court ruling imposing tens of millions of dollars of liability is a reminder of the risks associated with outbound calling activities and of the stakes at play in the ACA International… Continue Reading

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

Posted in ALL CFS Blog Entries, Auto Finance, Debt Buyers & Collectors, Featured Posts
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… Continue Reading

High Call Volume Not Necessarily a Violation of FDCPA or Rosenthal Act

Posted in ALL CFS Blog Entries, Auto Finance, Credit Reporting & Data Brokers, Debt Buyers & Collectors
In Hinderstein v. Advanced Call Ctr. Techs., No. 15-100017 (C.D. Cal. Feb. 27, 2017), a case alleging violation of the federal Fair Debt Collection Practices Act and California’s Rosenthal Fair Debt Collection Practices Act before the United States District Court for the Central District of California, the Court found that a relatively high call volume… Continue Reading

Join Us for the ACI Consumer Finance Class Actions & Litigation Conference in Miami

Posted in ALL CFS Blog Entries, Auto Finance, CFS Events, Mortgage Lenders & Servicers, State Attorneys General, CFPB, & FTC
We are pleased to announce that Troutman Sanders partners John Lynch and Chad Fuller will be featured moderators and speakers, respectively, at the American Conference Institute’s 27th National Conference on Consumer Finance Class Actions and Litigation on January 24, 2017 at the W Miami Hotel. John will moderate the  second portion of the panel discussion,… Continue Reading

Blue Shield and SQM Defeat TCPA Putative Class Action Following Spokeo

Posted in ALL CFS Blog Entries, Auto Finance, Debt Buyers & Collectors, Featured Posts, Mortgage Lenders & Servicers
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… Continue Reading

FCC Sets Tight Boundaries for TCPA Government-Backed Loan Exception

Posted in ALL CFS Blog Entries, Auto Finance, Debt Buyers & Collectors, Mortgage Lenders & Servicers
As we previously reported, section 301(b) of the Bipartisan Budget Act of 2015 permits an exception to the Telephone Consumer Protection Act of 1991 for calls and text messages “made solely to collect a debt owed to or guaranteed by the United States.”  Although the TCPA generally prohibits calls and text messages using automatic telephone dialing… Continue Reading

FTC Consent Order With Two Ohio Auto Dealers Resolves Misleading Advertising Claims

Posted in Auto Finance, State Attorneys General, CFPB, & FTC
On July 14, the Federal Trade Commission announced that it had entered into a final consent order with Ohio auto dealers Progressive Chevrolet Company and Progressive Motors Inc. (collectively, the “Progressive Dealers”), which the FTC had “charged with deceiving consumers by using advertising that touted low monthly car lease payments and down payments but failed… Continue Reading

CFPB Monthly Report Highlights Complaints About Various Consumer Loans

Posted in ALL CFS Blog Entries, Auto Finance, Debt Buyers & Collectors, State Attorneys General, CFPB, & FTC
On June 28, the Consumer Financial Protection Bureau released its Monthly Complaint Report, which aims to provide “a high-level snapshot of trends in consumer complaints” concerning products such as auto loans, installment loans, and title loans.  The CFPB claims that since it began collecting such complaints in July 2011, it has handled a total of… Continue Reading

Sirius XM Settles TCPA Class Action for $35 Million

Posted in ALL CFS Blog Entries, Auto Finance, Debt Buyers & Collectors, Mortgage Lenders & Servicers
In one of the largest settlements in history under the Telephone Consumer Protection Act (“TCPA”), Sirius XM Radio Inc. agreed to pay $35 million to resolve putative class actions filed throughout the country alleging that it had used an automatic telephone dialing system to engage in telemarketing to trial users of its satellite radio service… Continue Reading

A Serious Circuit Split On Class Ascertainability

Posted in ALL CFS Blog Entries, Auto Finance, Credit Reporting & Data Brokers, Debt Buyers & Collectors, Mortgage Lenders & Servicers
Law360, New York (June 30, 2016, 4:42 PM ET) — The Eighth Circuit’s recent ruling in Sandusky Wellness Center LLC v. Medtox Scientific Inc. on ascertainability deepened a circuit split on one of the most important and challenging class certification issues. Until theU.S. Supreme Court resolves the split, the legal standard for ascertainability will remain… Continue Reading

CFPB Releases “Know Before You Owe” Guide for Auto Purchases

Posted in ALL CFS Blog Entries, Auto Finance, State Attorneys General, CFPB, & FTC
The Consumer Financial Protection Bureau (“CFPB”) has released an “auto loan shopping sheet” and other online resources as part of its “Know Before You Owe” initiative, which aims to assist consumers with comparison shopping and financing auto purchases. The initiative “walks consumers through each step of the auto finance process to help them decide how… Continue Reading

CFPB Warns of Debt Risks for Car Title Loans, Foreshadows Upcoming Regulation

Posted in ALL CFS Blog Entries, Auto Finance, Debt Buyers & Collectors, State Attorneys General, CFPB, & FTC
On May 18, the Consumer Financial Protection Bureau issued a 24-page report regarding consumer usage and default patterns for vehicle title loans.  Such loans are made to borrowers who sign over their car titles as collateral, and are commonly made to individuals with poor credit histories in need of fast cash.  Although the borrower retains… Continue Reading

Join Us for a Troutman Sanders Webinar: A Year in Review – TCPA Developments since the FCC’s Landmark Declaratory Ruling

Posted in ALL CFS Blog Entries, Auto Finance, CFS Events, Debt Buyers & Collectors, Mortgage Lenders & Servicers
  Join Troutman Sanders partners Alan Wingfield and Chad Fuller, and associate Virginia Flynn for a webinar entitled, “A Year in Review – TCPA Developments since the FCC’s Landmark Declaratory Ruling,” on Tuesday, June 7, from 12:00-1:00 p.m. EDT. The Federal Communications Commission’s landmark July 10, 2015 Declaratory Ruling interpreting the Telephone Consumer Protection Act… Continue Reading

Eighth Circuit Joins Minority in Circuit Split as to Ascertainability Standard for Class Actions

Posted in ALL CFS Blog Entries, Auto Finance, Debt Buyers & Collectors, Featured Posts, Mortgage Lenders & Servicers, State Attorneys General, CFPB, & FTC
On May 3, the United States Court of Appeals for the Eighth Circuit reversed a lower court’s rejection of class certification in Sandusky Wellness Ctr., LLC v. Medtox Scientific, Inc., a case brought under the Telephone Consumer Protection Act (“TCPA”) relating to junk faxes sent by a lead testing company.  In its opinion, the Court… Continue Reading

Missouri’s Action Against Charter for Improper Telemarketing Largely Survives First Legal Test

Posted in ALL CFS Blog Entries, State Attorneys General, CFPB, & FTC
A government enforcement action against Charter Communications, Inc. for alleged violations of federal and state telecommunications laws has mostly withstood the first legal challenge.  As we previously reported, Missouri Attorney General Chris Koster filed a federal lawsuit in October 2015 against Charter alleging violations of federal and state telemarketing and “do-not-call” laws.  The lawsuit stems from… Continue Reading

Auto Lenders Settle Excessive Interest Claims With Massachusetts Attorney General for $7.4 Million

Posted in ALL CFS Blog Entries, Auto Finance
On March 16, Massachusetts Attorney General Maura Healey announced a $7.4 million settlement with two national auto lenders, American Credit Acceptance LLC (“ACA”) and Westlake Services LLC (“Westlake”).  The settlement resolves claims against the lenders that they charged excessive interest rates on subprime automotive loans.  ACA settled for $1.7 million, and Westlake for $5.7 million.… Continue Reading

Join Us for the American Conference Institute’s 25th National Forum on Consumer Finance Class Action & Litigation

Posted in CFS Events, Debt Buyers & Collectors
Join Troutman Sanders partner Chad Fuller for the American Conference Institute’s 25th National Forum on Consumer Finance Class Action & Litigation at the Omni Los Angeles Hotel at California Plaza on April 7-8. The American Conference Institute has assembled an unparalleled faculty of federal and state regulatory and enforcement officials, senior in-house counsel, renowned federal… Continue Reading

House Democrats Join Senate Colleagues With Introduction of Identical HANGUP Act

Posted in ALL CFS Blog Entries, Auto Finance, Debt Buyers & Collectors, Mortgage Lenders & Servicers, State Attorneys General, CFPB, & FTC
House Democrats have joined an effort to ensure that the Telephone Consumer Protection Act of 1991 (“TCPA”) applies to calls to collect government-backed debt.  We previously reported that on November 4, 2015, Sen. Edward Markey (D-Mass.) introduced the Help Americans Never Get Unwanted Phone calls Act of 2015, also known as the HANGUP Act.  The… Continue Reading

FCC Circulates Draft Rule to Implement TCPA Exception for Government-Backed Loans

Posted in ALL CFS Blog Entries, Auto Finance, Debt Buyers & Collectors, Mortgage Lenders & Servicers, State Attorneys General, CFPB, & FTC
As we previously reported, section 301(b) of the Bipartisan Budget Act of 2015 permits an exception to the Telephone Consumer Protection Act of 1991 for calls and text messages “made solely to collect a debt owed to or guaranteed by the United States.” The  TCPA generally prohibits calls made and text messages sent utilizing artificial… Continue Reading

Coalition of State Attorneys General Urges Passage of the HANGUP Act

Posted in ALL CFS Blog Entries, Auto Finance, Debt Buyers & Collectors, Mortgage Lenders & Servicers, State Attorneys General, CFPB, & FTC
As we previously reported, on November 4, 2015, U. S. Senator Edward Markey (D-Mass.) introduced the Help Americans Never Get Unwanted Phone calls Act of 2015—or HANGUP Act for short.  The legislation, which has 14 Democratic co-sponsors, would repeal section 301(b) of the Bipartisan Budget Act of 2015, which permitted an exception to the Telephone Consumer… Continue Reading

Toyota Resolves CFPB/DOJ Joint Action Alleging Discriminatory Loan Practices

Posted in ALL CFS Blog Entries, Auto Finance, State Attorneys General, CFPB, & FTC
On February 2, following a joint investigation of the Consumer Financial Protection Bureau and the Civil Rights Division of the Department of Justice, Toyota Motor Credit Corporation, the financing arm and subsidiary of the Japanese auto giant, agreed to pay up to $21.9 million in restitution to thousands of minority borrowers who allegedly were charged… Continue Reading