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, the Consumer Financial Protection Bureau (CFPB), joined by the attorneys general for Virginia, Massachusetts, and New York (States), filed suit against Libre by Nexus, Inc. (Libre). The suit alleges that Libre, an immigration bond services business, engaged in deceptive and abusive acts or practices in connection with its offer of credit to
In a recently filed Form 10-K, PayPal Holdings, Inc. (PayPal) announced that it received a Civil Investigative Demand (CID) from the Consumer Financial Protection Bureau (CFPB) on January 21 “related to Venmo’s unauthorized funds transfers and collections processes, and related matters.” PayPal owns and operates Venmo as part of its digital wallet portfolio.
While
February 11, 2021
11:00am – 12:00pm ET
Presented by the ABA Section of Litigation Consumer Litigation Committee, David Anthony and colleagues discussed the significant developments in Fair Credit Reporting Act litigation from 2020, with a particular focus on cases that involve class action issues. Panel discussion topics included standing to bring claims under the FCRA,
February 17, 2021
3:00 – 4:00 pm ET
FCRA litigation continues to increase. 2020 was a busy year, and 2021 seems poised for a further increase in litigation and regulatory actions. Please join us for a complimentary webinar to discuss the significant FCRA cases from 2020 and what is on the horizon for 2021. Topics
In a statement recently disseminated to all Consumer Financial Protection Bureau (CFPB) personnel, Acting Director Dave Uejio set forth new priorities for the CFPB’s Supervision, Enforcement, and Fair Lending Division (SEFL), specifically around providing COVID-19 relief to consumers and racial equity.
In the statement, Uejio communicated his belief that “strong oversight” can make a
In Cherry v. Dometic Corp., the Eleventh Circuit Court of Appeals held that, when addressing a motion for class certification, courts may consider whether the named plaintiff has demonstrated an administratively feasible method for identifying absent class members, but administrative feasibility is not a standalone requirement. In reaching its decision, the Eleventh Circuit waded
The Consumer Financial Protection Bureau (CFPB) signaled Thursday that it may seek to delay implementation of the agency’s recently completed qualified mortgage and debt collection rules. Although the qualified mortgage rule is set to become effective on March 1, 2021 (and the debt collection rule on November 20, 2021), delaying either could lead to a
Susan E. Flint, a leading attorney in the consumer finance, regulatory, and class action areas, joined Troutman Pepper’s Consumer Financial Services Practice Group as a partner working remotely from Minneapolis. Most recently, Flint served as senior vice president and assistant general counsel at Wells Fargo in its Litigation, Regulatory Enforcement, and Investigations Division.
While
Bob Ferguson, the attorney general of Washington, has released his 2021 legislative agenda. The requested legislation includes a bill that would self-impose notice requirements to Washington tribes before initiating a project or program that would implicate tribal rights. The legislation “requires that the Attorney General obtain free, prior, and informed consent before initiating programs or