A federal district court in Connecticut recently ruled that a debt collector’s 29 telephone calls to a debtor’s home telephone over a period of 24 days was sufficient to establish a claim under the Fair Debt Collection Practices Act. In denying in part the defendant debt collector’s motion for judgment on the pleadings, Judge Jeffrey
CFPB Director Richard Cordray to Step Down
Richard Cordray, the Director of the Consumer Financial Protection Bureau (“CFPB”), announced today that he plans to step down from that post by the end of the month. Cordray’s term was otherwise set to expire in July of 2018.
Cordray, who was appointed by the Obama Administration after the CFPB was created in 2011, issued
Join Us November 8-9 for the Third Party Payment Processors Association Executive Summit
We are pleased to announce that Troutman Sanders attorneys David Anthony, Keith Barnett, Ashley Taylor and Melanie Witte will be featured speakers at the upcoming Third Party Payment Processors Association (TPPPA) Executive Summit in Scottsdale, Arizona on November 8-9, 2017.
Troutman Sanders attorneys will participate in panels on topics including:
- The Supposed End to Operation
FTC and State AGs to Announce Major Coordinated Consumer Fraud Enforcement Initiative
The Federal Trade Commission (FTC) issued a press release earlier today alerting the media and other interested parties that it will announce a “major coordinated consumer fraud enforcement initiative” Friday, October 13 at 11:30 a.m. EST.
The Acting Director of the FTC’s Bureau of Consumer Protection, Thomas Pahl, and Illinois Attorney General Lisa Madigan will
House Financial Services Committee Hears Bill to Exempt Lawyers from FDCPA in Connection with Legal Proceedings and Related Communications
On September 7, the Financial Services Committee held hearings on a bill, H.R. 1849: Practice of Law Technical Clarification Act of 2017 (Trott), that seeks to amend the Fair Debt Collection Practices Act.
The current definition of “debt collector” under the FDCPA does not make clear whether it applies to attorneys, especially in the
CFPB Rule Requires Payday Lenders to Apply “Ability to Repay” Standard to Loans
Today the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) issued a new rule that will have a significant impact on the payday lending market. The CFPB will now require lenders to conduct a “full-payment test” to determine upfront whether the borrower will have the ability to repay the loan when it becomes due. Lenders
CFPB Issues Guidance to Small Businesses on Complying With Rule Banning Class Action Waivers
On July 10, the Consumer Financial Protection Bureau issued its long-awaited final Rule banning class action waivers in arbitration provisions for covered entities, as well as requiring the covered entities to provide information to the CFPB regarding any efforts to compel arbitration. This Rule is of significance to any financial services company that utilizes consumer
Starbucks Hit with FCRA Class Action
Starbucks Corp. has been sued in a proposed class action in the Northern District of Georgia for alleged violations of the Fair Credit Reporting Act with its employment application process. Plaintiff Kevin Wills claims Starbucks rejected job applicants based on consumer reports without first providing a copy of the reports to the applicants and notifying
West Virginia Federal Court Preliminarily Approves Nearly $30M TCPA Class Action Settlement
In re Monitronics International, Inc., pending in the Northern District of West Virginia, is a consolidated class action lawsuit brought under the Telephone Consumer Protection Act. After years of contentious litigation, this past week the Court preliminarily approved a class action settlement of $28 million. This significant settlement serves as another example of the high
Bill to Cap FCRA Liability Gets Hearing Before Congressional Subcommittee
This past May, Rep. Barry Loudermilk (R-Ga.) introduced H.R. 2359, the FCRA Liability Harmonization Act, which would cap class action damages in Fair Credit Reporting Act claims at $500,000 or one percent of the defendant’s net worth, whichever is less, and eliminate punitive damages. Such changes would align the Fair Credit Reporting Act with numerous