In a recent speech at the Financial Data Exchange Global Summit, Rohit Chopra, Director of the Consumer Financial Protection Bureau…
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A U.S. district court in the Eastern District of New York recently denied a motion for summary judgment filed by a credit card issuer because the plaintiff alleged identity theft…
According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), and complaints filed…
Virginia is currently one of only two states that does not allow class-action lawsuits in its courts. However, that could change soon as House Bill (HB) 418, originally introduced…
According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), and complaints filed…
Virginia is currently one of only two states that does not allow class-action lawsuits in its courts. However, that could change soon as House Bill (HB) 418, originally introduced…
Troutman Pepper Publishes 2023 Consumer Financial Services Year in Review and A Look Ahead
We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced…
The United States District Court for the District of Maryland recently denied a mortgage servicer’s motion to dismiss a putative class action claim pursuant to the Real Estate Settlement Procedures…
What happens to funds recovered by the trustee after the final plan payment is made in a chapter 13 case? According to the U.S. Bankruptcy Court for the District of…
On February 12, ten Rhode Island senators introduced S 2275, a bill proposing to opt Rhode Island out of §§ 521-523 of the Depository Institutions Deregulation and Monetary Control…
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued a report entitled Identity-Related Suspicious Activity: 2021 Threats and Trends highlighting threat patterns and trend information derived…
In a case of first impression, the U.S. Court of Appeals for the Ninth Circuit was tasked with determining whether the alleged extracting and retaining of consumer data and tracking…
On October 27, the Federal Trade Commission (FTC) announced a final rule amending the Standards for Safeguarding Customer Information (Safeguards Rule) under the Gramm-Leach-Bliley Act. The Safeguards Rule requires nonbanking…
In a recent speech at the Financial Data Exchange Global Summit, Rohit Chopra, Director of the Consumer Financial Protection Bureau (CFPB), discussed the current state of open banking in the…
On February 20, the Wisconsin Senate passed House Bill (HB) 574 to regulate earned wage access (EWA) products and services. HB 574 creates a new chapter to the Wisconsin Statutes…
On March 7, the Federal Trade Commission (FTC) announced a final rule updating recordkeeping requirements and extending the protections against misrepresentations of the Telemarketing Sales Rule (TSR) to businesses (Final…
According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), and complaints filed…
On February 15, the Federal Communications Commission (FCC) approved amendments to the rules and regulations implementing the Telephone Consumer Protection Act (TCPA). The adopted Report and Order and Further Notice…
In Perrong v. Chase Data Corp., et al., a court in the Eastern District of Pennsylvania recently ruled that no personal liability attaches to the owner of a company…