On April 5, the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking (NPR) to amend Regulation Z, specifically to “prevent avoidable foreclosures” due to the COVID-19 pandemic “as the emergency federal foreclosure protections expire.”
The NPR mainly would do three things for loans secured by a borrower’s principal residence:
In Consumer Fin. Prot. Bureau v. Nat’l Collegiate Master Student Loan Trust, the District of Delaware dismissed a lawsuit brought by the Consumer Financial Protection Bureau (CFPB), alleging that a group of trusts that hold more than 800,000 private student loans engaged in unfair and deceptive practices. The District Court held that the CFPB’s
In Hearn v. Comcast Cable Communications, LLC, the Eleventh Circuit Court of Appeals reversed a district court holding denying the defendant’s motion to compel arbitration regarding the plaintiff’s Fair Credit Reporting Act claim and remanded the matter for further proceedings.
In that case, the plaintiff obtained services from the defendant in 2016, and signed
In Ahmed v. Richland Holdings, No. 2:19-CV-1925 JCM (DJA) (D. Nev. Feb. 26, 2021), the District of Nevada dismissed a pair for claims under the Fair Debt Collections Practices Act (FDCPA), alleging that a debt collector had improperly sought to recover collection fees in the amount of 50% of the outstanding debts.
The plaintiffs,
On February 23, the Consumer Financial Protection Bureau (CFPB) issued a statement that it planned to propose a rule to “delay the July 1, 2021 mandatory compliance date of the General QM Final Rule.” Consistent with that, the CFPB announced a notice of proposed rulemaking (NPRM) on March 3, which would push back the current
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,
On February 22, Senator Chris Van Hollen (D-MD) introduced Senate Bill S. 355, which is intended to prevent health care providers and their agents from taking “extraordinary collection actions” relating to the collection of debts incurred from the “receipt of medical services, products, or devices.”
If passed, the COVID-19 Medical Debt Collection Relief Act
In Milburn v. SN Servicing, LLC, a district court in the Ninth Circuit denied a defendant’s motion for summary judgment regarding the plaintiffs’ allegations that the defendant violated the Fair Debt Collection Practices Act and Oregon Unlawful Debt Collection Practices Act in its mortgage servicing activity. In denying summary judgment, this decision serves as
In O’Toole v. Bob Roache Law, a Seventh Circuit District Court in Indiana granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act (FDCPA) case for lack of standing. In its holding, the court emphasized that allegations of “annoyance or confusion” without allegations of detrimental action taken as a result of the
On February 2, Judge Robert T. Dawson, in the Western District of Arkansas, granted a defendant debt collector’s motion for summary judgment. The court determined Monterey Financial Service LLC’s responses to plaintiff Kyle Steven Johnston’s debt validation request did not constitute harassment and satisfied Monterey’s obligations under the FDCPA.
At issue in the case was