An online lead aggregator for payday and installment loans agreed to pay $4 million to settle a lawsuit filed by the Consumer Financial Protection Bureau. The lead aggregator also agreed to a permanent ban on lead generation, lead aggregation, and data brokering for certain high interest consumer loans.
In 2015, the CFPB filed a lawsuit
Two Troutman Sanders LLP attorneys recently published an article in a national publication discussing how to avoid risks in electronic delivery of insurance documents with an E-SIGN compliance strategy.
Alan Wingfield and Michael Huggins co-authored an article Avoid Pitfalls in Electronic Delivery of Documents with an E-SIGN Compliance Strategy in the American Bar Association Journal.
The Consumer Financial Protection Bureau (CFPB) released on May 7 a 538-page Notice of Proposed Rulemaking (the Rule) that would update the Fair Debt Collection Practices Act (FDCPA). The Rule would be the first major update to the FDCPA since its enactment in 1977 and gives much-needed clarification on the bounds of federally-regulated activities of
Addressing claims based on parsing language in a collection letter, the Eighth Circuit Court of Appeals affirmed dismissal under Rule 12’s plausibility standard of claims asserted under the Fair Debt Collection Practices Act, finding the alleged representations were not misleading as a matter of law.
In Klein v. Credico Inc., the debtor alleged that
Earlier this week, the Fourth Circuit struck down a provision of the Telephone Consumer Protection Act (“TCPA”) that exempted government-backed debts from the statute’s prohibition on automated calls to cellular telephones. According to the Court in American Association of Political Consultants, Inc., et al v. FCC, the debt-collection exemption does not pass strict scrutiny
Background
In Varela v. Lamps Plus, Inc.,
On April 5, the Minnesota Department of Commerce issued guidance to the motor vehicle sales finance industry intended to clarify the types of entities that meet the definition of “sales finance company” under Minnesota law. The guidance solidified the Commerce Department’s stance that companies that purchase motor vehicle retail installment contracts must obtain a motor
Federal and state laws impose requirements for delivering documents electronically to consumers, including with respect to insurers, agents, and brokers. The federal Electronic Records and Signatures in Commerce Act (commonly referred to as “E-SIGN”) requires a consumer’s informed, affirmative consent to receive the documents electronically. But states may “reverse-preempt” E-SIGN by adopting the Uniform Electronic
Vanessa Smith was involved in a traffic accident in Arkansas and received a citation. In connection with the accident, Nationwide Mutual Insurance and Investments obtained a default judgment against Smith. The insurer then assigned the judgment to The McHughes Law Firm, LLC for collection. Smith subsequently entered into a payment plan with McHughes