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2020 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation, Troutman Pepper is uniquely positioned to help its clients find successful resolutions and stay ahead of the compliance curve.

In this report, we share developments in 2020 on consumer class actions, background screening, bankruptcy,

Earlier this month, California Attorney General Xavier Becerra and Massachusetts Attorney General Maura Healey led a group of twenty-three attorneys general in a lawsuit against the U.S. Department of Education (the “Department”) and Secretary of Education Betsy DeVos (the “Secretary”). According to a news release from the California Attorney General’s Office, the lawsuit, filed in

Earlier this month, the United States District Court for the District of Minnesota granted a national credit reporting agency’s motion for judgment on the pleadings, holding that it was not obligated under the Fair Credit Reporting Act to report all tradelines contained in a consumer’s credit file.

In this case, plaintiff Troy Krosch alleged that

Earlier this month, the United States District Court for the Western District of Texas denied a student loan servicer’s motion for judgment on the pleadings, finding that it was not entitled to absolute immunity under the Eleventh Amendment of the United States Constitution for alleged violations of the Fair Credit Reporting Act.

In May 2018,

In Hassel v. Centric Bank, et al., the United States District Court for the Middle District of Pennsylvania granted a furnisher’s motion to dismiss claims brought under Sections 1681i and 1681s-2(b) of the Fair Credit Reporting Act. In doing so, the Court reinforced the pleading standard for FCRA claims against data furnishers

Earlier this month, in Davis v. Carrington Mortgage Services, LLC, et al., the United States District Court for the District of Nevada held that consumer reporting agencies are not obligated to determine the legal status of debts. The Court also reinforced the plausible pleading standard for Fair Credit Reporting Act cases, while providing

Last week, in Russo v. POM Recoveries, Inc., the United States District Court for the Eastern District of New York denied summary judgment and allowed a suit to proceed against a debt collector for an alleged violation of Section 1692c of the Fair Debt Collection Practices Act. Plaintiff John Paul Russo alleged that POM violated