The Consumer Financial Protection Bureau (“CFPB”) has released an “auto loan shopping sheet” and other online resources as part of its “Know Before You Owe” initiative, which aims to assist consumers with comparison shopping and financing auto purchases. The initiative “walks consumers through each step of the auto finance process to help them
CFPB Warns of Debt Risks for Car Title Loans, Foreshadows Upcoming Regulation
On May 18, the Consumer Financial Protection Bureau issued a 24-page report regarding consumer usage and default patterns for vehicle title loans. Such loans are made to borrowers who sign over their car titles as collateral, and are commonly made to individuals with poor credit histories in need of fast cash. Although the borrower retains
Join Us for a Troutman Sanders Webinar: A Year in Review – TCPA Developments since the FCC’s Landmark Declaratory Ruling
Join Troutman Sanders partners Alan Wingfield and Chad Fuller, and associate Virginia Flynn for a webinar entitled, “A Year in Review – TCPA Developments since the FCC’s Landmark Declaratory Ruling,” on Tuesday, June 7, from 12:00-1:00 p.m. EDT.
The Federal Communications Commission’s landmark July 10, 2015 Declaratory Ruling interpreting the Telephone Consumer Protection Act
Eighth Circuit Joins Minority in Circuit Split as to Ascertainability Standard for Class Actions
On May 3, the United States Court of Appeals for the Eighth Circuit reversed a lower court’s rejection of class certification in Sandusky Wellness Ctr., LLC v. Medtox Scientific, Inc., a case brought under the Telephone Consumer Protection Act (“TCPA”) relating to junk faxes sent by a lead testing company. In its opinion, the
Missouri’s Action Against Charter for Improper Telemarketing Largely Survives First Legal Test
A government enforcement action against Charter Communications, Inc. for alleged violations of federal and state telecommunications laws has mostly withstood the first legal challenge. As we previously reported, Missouri Attorney General Chris Koster filed a federal lawsuit in October 2015 against Charter alleging violations of federal and state telemarketing and “do-not-call” laws. The lawsuit
Auto Lenders Settle Excessive Interest Claims With Massachusetts Attorney General for $7.4 Million
On March 16, Massachusetts Attorney General Maura Healey announced a $7.4 million settlement with two national auto lenders, American Credit Acceptance LLC (“ACA”) and Westlake Services LLC (“Westlake”). The settlement resolves claims against the lenders that they charged excessive interest rates on subprime automotive loans. ACA settled for $1.7 million, and Westlake for $5.7 million.
Join Us for the American Conference Institute’s 25th National Forum on Consumer Finance Class Action & Litigation
Join Troutman Sanders partner Chad Fuller for the American Conference Institute’s 25th National Forum on Consumer Finance Class Action & Litigation at the Omni Los Angeles Hotel at California Plaza on April 7-8.
The American Conference Institute has assembled an unparalleled faculty of federal and state regulatory and enforcement officials, senior in-house counsel, renowned
House Democrats Join Senate Colleagues With Introduction of Identical HANGUP Act
House Democrats have joined an effort to ensure that the Telephone Consumer Protection Act of 1991 (“TCPA”) applies to calls to collect government-backed debt. We previously reported that on November 4, 2015, Sen. Edward Markey (D-Mass.) introduced the Help Americans Never Get Unwanted Phone calls Act of 2015, also known as the
FCC Circulates Draft Rule to Implement TCPA Exception for Government-Backed Loans
As we previously reported, section 301(b) of the Bipartisan Budget Act of 2015 permits an exception to the Telephone Consumer Protection Act of 1991 for calls and text messages “made solely to collect a debt owed to or guaranteed by the United States.” The TCPA generally prohibits calls made and text messages sent utilizing
Coalition of State Attorneys General Urges Passage of the HANGUP Act
As we previously reported, on November 4, 2015, U. S. Senator Edward Markey (D-Mass.) introduced the Help Americans Never Get Unwanted Phone calls Act of 2015—or HANGUP Act for short. The legislation, which has 14 Democratic co-sponsors, would repeal section 301(b) of the Bipartisan Budget Act of 2015, which