On July 25, the United States House of Representatives voted to repeal the Consumer Financial Protection Bureau’s latest arbitration rule.
As we reported previously, the CFPB issued a final rule banning class action waivers in arbitration provisions for covered entities, as well as requiring the covered entities to provide information to the
A federal district court in Indiana has allowed a plaintiff’s claim that a debt collector improperly accessed her credit report to proceed because the debt collector did not claim the alleged debt arose from a credit transaction in its motion to dismiss the complaint.
Plaintiff Vivian Pigg incurred the alleged debt after defaulting on
Financial institutions with arbitration clauses in consumer contracts are on the clock. The Consumer Financial Protection Bureau’s (CFPB) new Arbitration Rule was published in the Federal Register today, with an effective date of September 18, 2017 and a compliance date of March 19, 2018. Absent congressional action or successful litigation challenge, those financial institutions
In Campbell-Ewald Co. v. Gomez, 136 S.Ct. 663 (2016), the Supreme Court held that an unaccepted offer of full relief under Rule 68 to a named plaintiff was insufficient to moot class claims. However, the Supreme Court expressly left open the possibility of a “different result if a defendant deposits the full amount of
We are pleased to announce that Troutman Sanders partners Ashley Taylor and David Anthony will be featured speakers at the upcoming Credit and Collections News (CCN) Annual Creditor Grantor Summit. The conference will be held August 14-16, 2017 at the Ritz-Carlton in Georgetown, Washington, DC.
Ashley will speak on a panel entitled “Working with Your
On June 27, the Consumer Financial Protection Bureau announced it had filed two consumer protection lawsuits against four credit repair companies and three executives for allegedly misleading consumers and charging improper advance fees. On that same day, the CFPB filed corresponding stipulated final judgments providing for approximately $2 million in penalties against the named defendants.
The Fifth Circuit Court of Appeals recently affirmed summary judgment on a Fair Debt Collection Practices Act claim in favor of a debtor, finding that the debt collector violated the FDCPA when it failed to mark the debtor’s account as “disputed” when the collector reported the account to the bureaus.
Plaintiff Robert Sayles sued Advanced
On July 10, 2017, 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
In dismissing a claim against a debt collector, brought under the Fair Debt Collection Practices Act, the U.S. District Court for the Eastern District of Wisconsin found that language used by the debt collector clearly informing the consumer that interest and fees would continue to accrue on the balance did not violate the
In a long-running Telephone Consumer Protection Act class action, Missouri District Judge Catherine Perry recently granted defendant Vein Centers for Excellence Inc.’s motion to decertify the class.
As background, Vein Centers is a marketing firm that provides graphic design and other services to doctors. The named plaintiff, St. Louis Heart Center, Inc., filed this putative