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,
Earlier this month, the United States District Court for the Western District of Texas denied a student loan servicer’s motion for judgment on the pleadings, finding that it was not entitled to absolute immunity under the Eleventh Amendment of the United States Constitution for alleged violations of the Fair Credit Reporting Act.
In May 2018,
In Hassel v. Centric Bank, et al., the United States District Court for the Middle District of Pennsylvania granted a furnisher’s motion to dismiss claims brought under Sections 1681i and 1681s-2(b) of the Fair Credit Reporting Act. In doing so, the Court reinforced the pleading standard for FCRA claims against data furnishers
Earlier this month, in Davis v. Carrington Mortgage Services, LLC, et al., the United States District Court for the District of Nevada held that consumer reporting agencies are not obligated to determine the legal status of debts. The Court also reinforced the plausible pleading standard for Fair Credit Reporting Act cases, while providing
Any company that uses telephony systems for outreach to consumers got important and potentially good news on January 27, 2020, when the Eleventh Circuit released its much-anticipated opinion in Glasser v. Hilton Grand Vacations Company, LLC, No. 18-14499. The court held that a phone system must use randomly or sequentially generated numbers to qualify
Last week, in Morgan v. Adventist Health Systems/Sunbelt, Inc., et al., the United States District Court for the Middle District of Florida joined a number of courts post-ACA International in holding that a telephony system must have the present capacity to randomly or sequentially generate telephone numbers in order to qualify as an
The Southern District of Florida recently issued a positive decision for businesses defending Telephone Consumer Protection Act lawsuits who place calls pursuant to contractually granted consent. In Lucoff v. Navient Sols., LLC, No. 0:18-cv-60743-RAR, 2019 U.S. Dist. LEXIS 133577 (S.D. Fla. Aug. 7, 2019), the Court affirmed and adopted the Magistrate’s Report and Recommendation
The Eastern District of New York recently granted a debt collector’s motion for summary judgment in a Fair Debt Collection Practices Act case because the collection letter clearly identified the creditor to whom the debt was owed and would not mislead even the least sophisticated consumer. In doing so, the Court critiqued the “lawyer’s case”
On June 12, a Northern District of Illinois judge ordered loan servicer and debt collector Real Time Resolutions, Inc. to distribute $261,815.82 in unclaimed funds to class members, rather than donating the funds to charity as a cy pres award. In doing so, the Court settled a dispute between the parties as to the proper
On May 13, the Consumer Financial Protection Bureau announced its plans for periodically reviewing the regulations it oversees, in accordance with the Regulatory Flexibility Act (“RFA”). In a second statement issued the same date, the CFPB announced it would begin the process with a review of the Overdraft Rule, which amended Regulation E implementing the