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

Supreme Court to Decide Whether American Pipe Tolling Permits Successive Class Actions

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GAO Sounds Death Knell for the CFPB’s Key Statement of its “Disparate Impact” Theories in Indirect Auto Finance

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Federal Judge Denies Injunction, Leaving Trump Appointee Mick Mulvaney Head of CFPB

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Join Us on December 5 for an ABA Webinar – State Attorneys General Series: Enforcement Agencies Confront Class Actions

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President Likely Has Authority To Appoint Acting Director To Replace Cordray At CFPB

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Federal Court Dismisses Challenge to OCC Fintech Charter Proposal

By Stephen C. Piepgrass on December 13, 2017

On December 12, a federal judge dismissed a challenge to the Office of the Comptroller of the Currency’s proposal to issue special purpose national bank charters to financial technology firms, finding that the plaintiff – the New York State Department of Financial Services – lacks standing and that the claims asserted are not ripe because...
Supreme Court to Decide Whether American Pipe Tolling Permits Successive Class Actions
Bank to Pay $2.8 Million in Consumer Restitution to Settle Alleged Deceptive Fee Practices
Another Big-Dollar TCPA Settlement as Payment Processor Agrees to $9M Deal
Federal Court Rejects Dish Network’s Motions to Set Aside or Reduce $61M Damages Award in TCPA Class Action

Eleventh Circuit Imposes Joint and Several Liability on Payment Processor for Fraud by Client

By Keith Barnett on December 15, 2017

On November 13, the U.S. Court of Appeals for the Eleventh Circuit affirmed the imposition of joint and several liability on a payment processor that had provided “substantial assistance” to another entity that violated a federal ban on improper telemarketing practices. The decision leaves the payment processor responsible for paying the $1.7 million judgment with...
Federal Court Dismisses Challenge to OCC Fintech Charter Proposal
Supreme Court to Decide Whether American Pipe Tolling Permits Successive Class Actions
District Court Relies on Spokeo to Dismiss FACTA Suit
Another Big-Dollar TCPA Settlement as Payment Processor Agrees to $9M Deal

Supreme Court to Decide Whether American Pipe Tolling Permits Successive Class Actions

By Stephen C. Piepgrass on December 12, 2017

On December 8, the United States Supreme Court agreed to decide whether the tolling rule adopted in American Pipe & Construction Co. v. Utah – i.e., that the filing of a class action tolls the limitations period for a purported class member’s individual claims – permits a previously absent class member to bring a subsequent...
Health Care Debt Collector Pays $600K to Settle TCPA Class Action
Federal Court Finds 29 Calls in 24 Days Sufficient to State FDCPA Claim
Another Big-Dollar TCPA Settlement as Payment Processor Agrees to $9M Deal
Current Balance Decision Creates Uncertainty in Eastern District of New York

Supreme Court to Decide Whether American Pipe Tolling Permits Successive Class Actions

By Stephen C. Piepgrass on December 12, 2017

On December 8, the United States Supreme Court agreed to decide whether the tolling rule adopted in American Pipe & Construction Co. v. Utah – i.e., that the filing of a class action tolls the limitations period for a purported class member’s individual claims – permits a previously absent class member to bring a subsequent...
Ohio Appellate Court Dismisses FCRA Class Claim for Lack of Article III Standing, Citing Spokeo
State Court Among First to Dismiss FCRA Claim for Lack of Injury-in-Fact
CFPB Solicits Comments on Access to Free Credit Scores
CA Federal Court Denies TransUnion’s Post-Trial Motions in $60M Ramirez Case

Federal Court Dismisses Challenge to OCC Fintech Charter Proposal

By Stephen C. Piepgrass on December 13, 2017

On December 12, a federal judge dismissed a challenge to the Office of the Comptroller of the Currency’s proposal to issue special purpose national bank charters to financial technology firms, finding that the plaintiff – the New York State Department of Financial Services – lacks standing and that the claims asserted are not ripe because...
Supreme Court to Decide Whether American Pipe Tolling Permits Successive Class Actions
GAO Sounds Death Knell for the CFPB’s Key Statement of its “Disparate Impact” Theories in Indirect Auto Finance
Auto Lending—and Delinquencies—Stay on Upward Trend
Auto Finance Company Unable to Shake TCPA Class Action

Supreme Court to Decide Whether American Pipe Tolling Permits Successive Class Actions

By Stephen C. Piepgrass on December 12, 2017

On December 8, the United States Supreme Court agreed to decide whether the tolling rule adopted in American Pipe & Construction Co. v. Utah – i.e., that the filing of a class action tolls the limitations period for a purported class member’s individual claims – permits a previously absent class member to bring a subsequent...
District Court Rejects Argument that Background Check Disclosure is Not “Standalone” Document
Avis Settles FCRA Background Check Lawsuit for $2.7 Million
Supreme Court Declines to Hear Appeal of Ninth Circuit Decision on FCRA Willfulness in Disclosure Forms
Arizona Governor Signs Executive Order Banning the Box

Supreme Court to Decide Whether American Pipe Tolling Permits Successive Class Actions

By Stephen C. Piepgrass on December 12, 2017

On December 8, the United States Supreme Court agreed to decide whether the tolling rule adopted in American Pipe & Construction Co. v. Utah – i.e., that the filing of a class action tolls the limitations period for a purported class member’s individual claims – permits a previously absent class member to bring a subsequent...
Join Us for a Complimentary Webinar: Preserving and Protecting Confidentiality when Sharing Information with Regulators
Ninth Circuit: ESPN App User Data is Not Personal Information
FCC Adopts New Rules on Blocking Robocalls
New York AG Proposes Changes to Data Breach Law

Eleventh Circuit Imposes Joint and Several Liability on Payment Processor for Fraud by Client

By Keith Barnett on December 15, 2017

On November 13, the U.S. Court of Appeals for the Eleventh Circuit affirmed the imposition of joint and several liability on a payment processor that had provided “substantial assistance” to another entity that violated a federal ban on improper telemarketing practices. The decision leaves the payment processor responsible for paying the $1.7 million judgment with...
Supreme Court to Decide Whether American Pipe Tolling Permits Successive Class Actions
N.C. Attorney General Josh Stein Reorganizes DOJ
Consulting New Leadership on Case Against Tribal Lenders, CFPB Obtains Extension
Bad Day for Payday Lender: Jury Convicts Online Lender of $220M