It is well known that secrets don’t make friends, and if you’re a public operating company, this is especially true for disclosures related to material cybersecurity issues. Last week, the Securities and Exchange Commission issued a guidance that serves as a reminder for public companies of their cybersecurity disclosure requirements under federal securities laws. The
A district court in Maryland has ruled that a debt collection agency did not violate the Fair Debt Collection Practices Act, 15 U.S.C. § 1692 (“FDCPA”)’s mini-Miranda requirement by failing to disclose its identity in a call initiated by the plaintiff in response to a debt collection letter.
Background
Consumer plaintiff Rhonda Price-Richardson defaulted on
In a new article detailing its Stats for December 2017 and Year in Review, WebRecon presented data showing a slight decrease in the number of consumer litigation lawsuits filed in 2017 compared to other years. We previously reported on WebRecon’s consumer litigation statistics for May of 2017, where we found the number of new
As we previously reported, Mick Mulvaney, acting interim director of the Consumer Financial Protection Bureau, announced a change to the CFPB’s governing philosophy to focus on quantitative analysis to guide the Bureau’s future regulatory and enforcement actions. As an example of this new emphasis on hard data, Mulvaney pointed to the fact that almost
On February 12, the Third Circuit Court of Appeals issued a precedential opinion in which it found that a debt collector’s inclusion of the word “settlement” in a collection letter for a statutorily time-barred debt suggested to the least sophisticated debtor the debt was still legally enforceable could therefore constitute potential violation of the Fair
The Sixth Circuit dismissed a claim under the Fair Debt Collection Practices Act against an attorney for lack of standing because the letter sent by the debt collector could not have caused the plaintiff a cognizable injury.
In 2010, consumer plaintiffs James and Patricia Hagy defaulted on the loan payments for their mobile home, and
BMW Financial Services N.A. has agreed to settle claims brought by the U.S. Department of Justice that the company violated federal law by failing to refund portions of up-front lease payments made by servicemembers who terminated their leases early due to military obligations. Under the agreement, BMW will pay more than $2 million to affected
Can the United States Government be liable for reporting inaccurate credit information on a consumer and then failing to investigate the consumer’s dispute? Many courts are divided as to whether the Fair Credit Reporting Act (“FCRA”) applies to the United States Government. In Jones v. United States Department of Agriculture, the District Court for
On Thursday, February 22nd, from 3-4 p.m. ET, Troutman Sanders attorneys Michael Lacy, Mary Zinsner, Andrew Buxbaum, and Sarah Warren Smith presented a webinar that provided an overview of recent trends in the areas of lender liability, bank litigation, and arbitration. The webinar covered principles for avoiding liability, provided an update on important case law
In addition to the hotly litigated mandatory disclosure of the “amount of the debt,” the Fair Debt Collection Practices Act also requires a seemingly straightforward statement of “the name of the creditor to whom the debt is owed” as set forth in 15 U.S.C. § 1692g(a)(2). However, even this requirement has given rise to a