To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
OCC Clarifies Bank Authority to Engage in Certain Cryptocurrency Activities
On March 7, the Office of the Comptroller of the Currency (OCC) issued a significant update regarding the involvement of national banks and federal savings associations in cryptocurrency activities. Interpretive Letter 1183 reaffirms the permissibility of various crypto-asset activities and aims to streamline the regulatory process for banks engaging in these activities.
California Federal Court Halts Allegedly Deceptive Debt Collection Practices by Blackrock Services, Inc. and Affiliates
On February 27, the Federal Trade Commission (FTC) successfully obtained a temporary restraining order against Blackrock Services, Inc. and its associated entities and individuals. The court order aims to halt the defendants’ alleged deceptive and abusive debt collection practices.
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – March 4, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
The SEC Weighs In on Meme Coins
In a stated effort to provide greater clarity on the application of federal securities laws to “crypto assets,” the Securities and Exchange Commission’s (SEC) Division of Corporation Finance has released its views on “meme coins.” In sum, while the offer and sale of meme coins may not be subject to federal securities laws, fraudulent conduct related to meme coins could still be subject to enforcement actions.
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – February 26, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – February 18, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
Sixth Circuit Affirms Dismissal of FDCPA Claims for Lack of Standing, But for Lack of a Causal Connection
In a recent decision, the U.S. Court of Appeals for the Sixth Circuit affirmed the dismissal of federal claims brought by a mortgagee against Trinity Financial Services, LLC (Trinity) under the Fair Debt Collection Practices Act (FDCPA). While the appellate court agreed that the plaintiff lacked standing, its holding was rooted in different grounds, namely that the plaintiff’s injuries were not traceable to any independent FDCPA violation.
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – February 11, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
CFPB Continues “Pausing” Litigation: This Time in Medical Debt Rule Litigation
This article was republished in insideARM on February 12, 2025.
Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) requested and was granted a 90-day stay in the litigation involving trade associations Cornerstone Credit Union League (Cornerstone) and the Consumer Data Industry Association (CDIA). This case, which challenges the CFPB’s Final Rule on the prohibition of medical debt information in consumer reports, has been temporarily halted as the Bureau undergoes significant leadership changes.