On January 16, the Consumer Financial Protection Bureau announced its intention to reconsider a controversial rule affecting the short-term (payday) and auto-title lending industries.  This reconsideration could signal that a stripped down rule that omits a number of the rule’s more controversial provisions could be in the offing.

The original rule was finalized in October 2017,…

2017 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation and forthcoming changes from the Trump Administration, Troutman Sanders is uniquely positioned to help its clients find successful resolutions and stay ahead of the compliance curve.

In this report, we share developments on consumer class…

On Tuesday, January 23rd, from 3-4 p.m. ET, Troutman Sanders attorneys David Anthony, Cindy Hanson and Tim St. George will present a webinar examining class actions under the Fair Credit Reporting Act. These class actions have surged, and they are a favorite vehicle for plaintiff’s counsel in both federal and state…

On April 30th – May 1st, ACI will host its FinTech and Emerging Payment Systems conference at the Park Lane Hotel in New York City.

We are pleased to announce that Troutman Sanders Partner Keith Barnett will be speaking at a panel titled ” Examining the Evolving State Regulatory and Enforcement Paradigm Governing FinTech and Payments”…

On January 5, Troutman Sanders filed an amicus brief on behalf of the National Association of Professional Background Screeners (“NAPBS”) in support of Spokeo, Inc.’s second petition for certiorari to the United States Supreme Court in Spokeo, Inc. v. Robins (U.S. No. 17-806).  The new petition requests that the Court revisit its prior ruling and…

As many expected with the change of administrations, U.S. Attorney General Jeff Sessions has reversed Obama-era Department of Justice policies respecting marijuana.  The reversal came in a January 4 memorandum to all United States Attorneys within the DOJ’s 94 federal districts (the “Memorandum”).  This development is of particular concern to financial institutions and other…

On February 6-8, 2018, DBA International will host its annual conference – Play Your Best Hand – at the Aria Resort & Casino in Las Vegas.

We are pleased to announce to announce that Troutman Sanders partner David Anthony will present on a panel entitled, “De-tangling Licensing Requirements – Monitoring for Changes, License Maintenance, and Practical Considerations.” This session…

One of the largest data breaches in U.S. history, the Equifax breach has reverberating implications not only for the big three consumer credit reporting agencies, but for all organizations maintaining and transmitting protected information. Talks of universal data breach law immediately grew louder and within weeks, state Attorney Generals from Massachusetts to California, the U.S.…

On December 14, the Supreme Court of Virginia reaffirmed in MCR Federal, LLC v. JB&A, Inc. that tort claims for actual and constructive fraud cannot stand where the source of the duty breached arises from the parties’ contractual relationship.  The Court’s holding is consistent with established precedent and is beneficial to the mortgage servicing industry…