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Stephen Lozier

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Steve Lozier counsels banks, consumer reporting agencies and other financial services institutions on various litigation matters involving both state and federal law. Using knowledge gained through experience, Steve helps clients navigate litigation proceedings to reach an efficient and equitable outcome.

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We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging 2023. Courts across the country issued rulings that will have immediate and lasting impacts on the industry. Our team of more than 140 professionals has prepared this concise, yet thorough analysis of the most important issues and trends throughout our industry. We not only examined what happened in 2023, but also what to expect — and how to prepare — for the months ahead.

A federal district court in the Middle District of Florida recently dismissed a pro se plaintiff’s Fair Debt Collection Practices Act (FDCPA) and Florida Consumer Collection Practices Act (FCCPA) action as time-barred because the defendants filed the foreclosure that was the basis for the plaintiff’s claims over four years prior.

In DeBoskey v. Statebridge Company…

Chris Willis, co-chair of the CFS Regulatory Practice, Announces the Publication of the 2022 CFS Year in Review and a Look Ahead

Troutman Pepper’s Consumer Financial Services Practice Group consists of more than 120 attorneys and professionals nationwide, who bring extensive experience in litigation, regulatory enforcement, and compliance. Our trial attorneys have litigated thousands of individual and class-action lawsuits involving cutting-edge issues across the country, and our regulatory and compliance attorneys have handled numerous 50-state investigations and nationwide compliance analyses.

We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. Our team has prepared this organized and thorough analysis of the most important issues and trends throughout our industry. We not only examined what happened in 2022, but also what to expect — and how to prepare — for the months ahead.

On February 13, the Second Circuit Court of Appeals affirmed the decision of an Eastern District of New York court and found that the defendant law firm, Mandarich Law Group, LLC (Mandarich), had conducted a meaningful attorney review of the plaintiff debtor’s account prior to mailing her a debt collection letter on the firm’s letterhead.

Federal courts across the country continue to divest themselves of Fair Debt Collection Practices Act (FDCPA) cases following the Supreme Court’s salient Article III standing decision in TransUnion LLC v. Ramirez. The Southern District of Illinois is no exception, with a court in that district recently dismissing an FDCPA action for lack of standing…

On April 28, U.S. District for the Southern District of New York Judge Mary Kay Vyskocil issued an order, enjoining three named sheriffs in New York from enforcing the recently enacted New York Fair Consumer Judgment Interest Act (Act) on a retroactive basis and directs the plaintiffs to deliver notice of the same to…

The filing lawsuits under the Fair Debt Collection Practices Act (FDCPA), the Fair Credit Reporting Act (FCRA), and the Telephone Consumer Protection Act (TCPA) increased dramatically in the first month of 2022 when compared to the number of filings in January and December 2021, per a report released recently by Web Recon LLC. The number…

2021 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 curve.

In this report, we share developments on auto finance, background screening, bankruptcy, consumer class actions, consumer…

On November 8, New York Governor Kathy Hochul signed into law the Consumer Credit Fairness Act (Act) (Legislation S.153/A.2382). The Act amends provisions of New York’s Civil Practice Law and Rules, commonly referred to as the CPLR, and the Judiciary Law to require original creditors and third-party debt collectors to include certain information and documents…

On October 30, 2020, the Consumer Financial Protection Bureau (CFPB or the Bureau) released its long-awaited final debt collection rule — also known as Regulation F. The Bureau supplemented the rule on December 18, 2020 and both parts were adopted pursuant to the Bureau’s authority under the Fair Debt Collection Practices Act (FDCPA).

On April…