We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With…

The Consumer Finance Podcast

The Crypto Exchange

FCRA Focus

Moving the Metal

Payments Pros

Unauthorized Access
As discussed here, yesterday the Consumer Financial Protection Bureau (CFPB or Bureau) finalized a rule aimed at removing an estimated $49 billion in medical bills from the consumer reports…
Recently, the Eastern District of Kentucky denied a motion to dismiss under the Fair Credit Reporting Act (FCRA) after finding the plaintiffs alleged sufficient facts to support a reasonable inference…
This week, the U.S. Court of Appeals for the Seventh Circuit issued a decision reversing a summary judgment order in a Fair Debt Collection Practices Act (FDCPA) case. The court…
The Court of Appeals for the Fourth District of Florida affirmed a trial court’s holding that claims under the Florida Consumer Collection Practices Act (FCCPA) cannot not be assigned. In…
The U.S. Court of Appeals for the Sixth Circuit recently affirmed that a debt collector did not violate the Fair Debt Collection Practices Act (FDCPA) when it threatened legal action…

Fourth Circuit Holds SCRA Does Not Bar Mandatory Arbitration in Consumer Agreements, Forcing Portion of Class Action Into Arbitration
On January 27, a three-judge panel of the U.S. Court of Appeals for the Fourth Circuit issued a significant opinion holding that the Servicemembers Civil Relief Act (SCRA) does not…
Recently, the Eastern District of Kentucky denied a motion to dismiss under the Fair Credit Reporting Act (FCRA) after finding the plaintiffs alleged sufficient facts to support a reasonable inference…

New York Federal Court Grants Bank’s Motion to Dismiss in Wire Fraud Case Involving Elderly Customer
On December 18, the U.S. District Court for the Southern District of New York granted a bank’s motion to dismiss the complaint in a case involving wire transfers of an…

New York Department of Financial Services Issues New Guidance on Cybersecurity Risks Arising from Artificial Intelligence
On October 16, the New York State Department of Financial Services (NY DFS) issued an industry letter to entities regulated by NY DFS (covered entities) providing guidance addressing the cybersecurity…
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…

Online Tracking Case Dismissed by Ninth Circuit Holding that Online Purchase Does Not Subject Web-Based Payment Processing Platform to Personal Jurisdiction in California
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 February 11, President Donald Trump nominated Jonathan McKernan to be the new Director of the Consumer Financial Protection Bureau (CFPB or Bureau). If confirmed by the Senate, McKernan will…
In a recent letter to Andrea Gacki, Director of the Financial Crimes Enforcement Network (FinCEN), Federal Deposit Insurance Corporation (FDIC) Acting Chairman Travis Hill expressed his support for updating the…
Today, the U.S. District Court for the Northern District of Texas issued an order in Chamber of Commerce of the United States of America v. Consumer Financial Protection Bureau (CFPB…
On February 4, the Federal Communications Commission (FCC) proposed a $4,492,500 fine against Telnyx LLC for allegedly allowing illegal robocalls on its network. The FCC’s Notice of Apparent Liability for…

Eleventh Circuit Re-Opens TCPA “Lead Generator Loophole” and Signals Further Erosion of Judicial Deference to Administrative Rules
In Insurance Marketing Coalition Ltd. v. FCC, — F.4th —-, 2025 WL 289152 (11th Cir. Jan. 24, 2025), the U.S. Court of Appeals for the Eleventh Circuit came to…

Third Circuit Denies Class Certification But Upholds TCPA’s Restrictions on Unsolicited Fax Advertisements
Last week, the U.S. Court of Appeals for the Third Circuit issued an opinion denying class certification in a case under the Telephone Consumer Protection Act (TCPA) finding common issues…