Join Troutman Sanders Partners Ashley L. Taylor, Jr., Alan D. Wingfield and Mary C. Zinsner for a complimentary webinar to discuss likely impact points for the banking and financial services industry when President-Elect Donald Trump begins his administration in January 2017.
Specific topics of discussion include the potential repeal in whole or part of the
In a motion filed in a putative class action pending in California, Facebook, Inc. seeks to dismiss claims under the Telephone Consumer Protection Act, arguing, among other things, that the TCPA as applied to Facebook’s “status update” text messages is unconstitutional. The plaintiff in Holt v. Facebook, Inc., No. 3:16-cv-02266-JST (N.D. Cal.),
On October 13, Judge Christina A. Snyder of the United States District Court for the Central District of California granted summary judgment in favor of Bank of America and other defendants in a putative Fair Credit Reporting Act class action. In Robert Berrellez v. Pontoon Solutions, Inc. et al., No. 2:15-cv-01898, the plaintiff alleged
In a case with important positive implications for banks conducting federally-required background checks on job applicants and employees, in Amanda Mix v. JPMorgan Chase, No. 2:15-cv-01102-JJT, the United States District Court for the District of Arizona granted JPMorgan Chase’s summary judgment motion on Plaintiff’s background screening class action. Plaintiff claimed that Chase violated the Fair
Until October 10, none of the constitutional or scope of enforcement authority challenges to the Consumer Financial Protection Bureau’s (“CFPB” or Bureau”) power have been successful. That changed on October 11 when the U.S. Court of Appeals for the District of Columbia held the Director of the Bureau has too much unilateral, unchecked power and
In good times and bad, one of the single largest legal risks for lenders is liability claims brought by borrowers. Either asserted defensively when the borrower is unable to repay, offensively when the borrower has suffered a loss in a transaction financed by the loan, or as in an entrepreneurial effort to recover money based
On September 15, the Federal Trade Commission published a staff paper providing its perspective on the lead generation business. Although the FTC recognized some of the advantages of lead generation, the paper was a clear warning to “unscrupulous actors in the lead generation industry” of potential consequences. The staff paper signals that the FTC is
DISH Network, LLC and DISH Network Service, LLC have agreed to pay $1.75 million to settle class action claims that they violated certain provisions of the Fair Credit Reporting Act related to ordering consumer reports for employment purposes. The December 4, 2012 complaint alleged that DISH required companies contracted to install DISH products to obtain
As we previously reported, section 301(b) of the Bipartisan Budget Act of 2015 permits an exception to the Telephone Consumer Protection Act of 1991 for calls and text messages “made solely to collect a debt owed to or guaranteed by the United States.” Although the TCPA generally prohibits calls and text messages using automatic
The Federal Deposit Insurance Corporation (“FDIC”) is seeking comment on proposed examination guidance for Third-Party Lending. [1] The proposed guidance, issued July 29, provides banks with safety, soundness and consumer compliance measures to be followed when lending through a business relationship with a third party. The proposed guidance will apply to all banks that engage