On February 26, the Northern District of California held in Banneck v. Federal National Mortgage Association that the defendant, commonly referred to as “Fannie Mae,” was not a consumer reporting agency, or “CRA,” as defined in the Fair Credit Reporting Act, granting summary judgment in a putative nationwide class action. The lawsuit had alleged violations
Timothy is an attorney in the firm’s Financial Services Litigation section. Timothy focuses his practice on representing financial institutions in government investigations conducted by the Consumer Financial Protection Bureau, the Department of Justice, and the Department of Housing and Urban Development, and private litigation involving RESPA, FHA, TILA, ECOA, and various state banking and consumer protection laws.
New York Court Tosses Class Action Over Interest and Fees Disclosure
A wave of lawsuits filed under the Fair Debt Collection Practices Act, especially in the Second Circuit, continues regarding disclosures of interest and fees in collection letters. Consumers have complained about failure to warn of interest and fees continuing to accrue, as well as failure to disclose that interest and fees did not accrue. The…