More than two years ago, the Eleventh Circuit Court of Appeals ruled in Johnson v. NPAS Solutions, LLC, 975 F.3d 1244 (11th Cir. 2020) that incentive payments for lead plaintiffs in class-action lawsuits are improper. After being denied rehearing en banc, the plaintiff has filed a petition for writ of certiorari for the
As part of its ongoing initiative to scrutinize so-called “junk fees,” the Consumer Financial Protection Bureau (CFPB) published guidance on two practices that it opines potentially violate the Consumer Financial Protection Act’s prohibition on unfair practices. Specifically, the CFPB published a compliance bulletin, cautioning against charging across-the-board depositor fees to consumers who deposit a
On October 6, the New York State Department of Financial Services (NYDFS) announced a consent order with Rhinebeck Bank (Rhinebeck) to resolve allegations that, in violation of New York Executive Law Section 296-a, the bank instituted discretionary dealer markup policies that resulted in a disparate impact that negatively affected members of minority groups.
In addition
On October 20, the Federal Trade Commission (FTC) issued an Advanced Notice of Proposed Rulemaking, seeking public comment on the harms stemming from what it characterizes as “junk fees,” i.e., fees that are allegedly unnecessary, unavoidable, or unexpected, and that inflate costs while adding little value. The term also encompasses “hidden fees,” which are fees
The Federal Trade Commission (FTC) reached a $3.38 million settlement with Passport Automotive Group (Passport) and two of its officers over allegations that the automotive group violated the Equal Credit Opportunity Act and the FTC Act by adding “junk fees” onto the cost of its vehicles and discriminating against Black and Latino consumers by charging
On October 12, the Ninth Circuit issued a decision, reversing the dismissal of a lawsuit on the grounds that the Telephone Consumer Protection Act (TCPA) does not extend to unwanted business texts. In Chennette v. Porch.com, the Ninth Circuit held TCPA statutory protections extend not only to individuals, but also to business entities.
Please join Consumer Financial Services Partner Dave Gettings and his colleagues Ethan Ostroff, Brooke Conkle, and Jon Kenney as they discuss the Third Circuit’s recent decision in the Bibbs case, particularly the Third Circuit’s treatment of “pay status” allegations and what we can expect to see going forward.
Please join Troutman Pepper Partner Chris Willis and his guests and colleagues Alan Wingfield and Brooke Conkle as they discuss the Federal Trade Commission’s (FTC) recent Notice of Proposed Rulemaking governing voluntary products in automobile finance transactions. During the podcast, they examine the requirements imposed on both advertising practices and the sales process and what it means for the automotive industry.
As we previously posted on June 23, the Federal Trade Commission (FTC or Commission) released a proposed Motor Vehicle Dealers Trade Regulation Rule. This new rule could allow the FTC to regulate dealers exempt from the Consumer Financial Protection Bureau’s (CFPB) jurisdiction under Section 1029(a) of the Dodd-Frank Act and would impose significant limits on
Escalating efforts to crack down on illegal robocalls, state attorneys general announced on August 2 that they have established a nationwide Anti-Robocall Litigation Task Force. The task force comprises attorneys general from all 50 states and will investigate and prosecute companies suspected of allowing or using illegal robocalls from foreign entities. While the states have