Several recent events highlight the expanding effort by the federal government to address the growing digital currency marketplace and the government’s role in it.
According to recent reporting, the Biden administration is preparing an executive order that will outline a comprehensive strategy for cryptocurrencies and ask federal agencies to assess the potential risks and
2021 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 curve.
In this report, we share developments on auto finance, background screening, bankruptcy, consumer class actions, consumer
The National Credit Union Administration (NCUA) — the federal regulator that oversees credit unions — announced that credit unions may partner with third-party digital asset service providers to give members access to cryptocurrencies and other digital assets.
Under the new guidance, credit unions could partner with a third-party to allow members “to buy, sell, and
Federal Deposit Insurance Corp. (FDIC) Chairman Jelena McWilliams announced at the October 25 Money 20/20 conference that the FDIC is currently working with the Federal Reserve and Office of the Comptroller of the Currency to develop a series of policy statements aimed at addressing engagement in activities involving cryptocurrency assets. Those policy statements are expected
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,
The United States District Court for the Southern District of New York recently dismissed a Fair Debt Collection Practices Act suit with prejudice brought over disclosure language in a debt collection letter. The Court found that while certain disclosure language is included in the FDCPA, failure to include it does not necessarily give rise to
Telephone Consumer Protection Act claim defendants and fans of civil procedure have cause to celebrate as another district court limits the scope of potential class members against out-of-state defendants.
On May 10, the District Court for the Northern District of Illinois struck non-residents of Illinois from a putative class in a
A bipartisan group of attorneys general from thirty-eight states have signed on to a letter backing the Secure and Fair Enforcement (“SAFE”) Banking Act – H.R. 1595 – as it moves toward the floor of the House of Representatives.
Thirty-three states plus the District of Columbia, Puerto Rico, and Guam have legalized marijuana for medical
In light of recent challenges to the Telephone Consumer Protection Act on First Amendment grounds, a recent decision from the Middle District of Florida provides yet another clear example of the TCPA’s content-based discrimination.
The case, Gaza v. Navient Solutions LLC, No. 8:18-cv-1049, concerned calls made to a cell phone to collect a student
Who should decide the “gateway” issue of arbitrability? That is, should a court or an arbitrator decide whether a particular issue is subject to arbitration? According to the Fourth Circuit, it depends on the agreement to arbitrate.
On January 4, the Fourth Circuit issued an opinion in Novic v. Credit One, No. 17-2168,