Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can
On February 21, President Biden issued an executive order blocking property of certain persons, and prohibiting transactions regarding Russia’s invasion of the Ukraine. The following day, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) issued restrictions on activities with Russian individuals and entities. On February 25, these lists were updated to include political leaders
Last June, the Supreme Court issued a noteworthy decision in the TransUnion v. Ramirez case, holding that the vast majority of an 8,000-plus member Fair Credit Reporting Act (FCRA) class lacked standing because they had not suffered a concrete injury. TransUnion LLC v. Ramirez, 141 S. Ct. 2190 (2021). On February 3, after returning
*Garrett Kelly is not licensed to practice law in any jurisdiction; his bar application is pending in Virginia.
On March 1, the Consumer Financial Protection Bureau (CFPB) released its “Medical Debt Burden in the United States” report, which questions whether consumer credit reports should include unpaid medical billing data.
According to the
On February 25, the New York State Department of Financial Services (NYDFS) issued Guidance to all individuals and entities subject to its regulation due to the rapidly evolving situation in Ukraine, following the Russian invasion and the imposition of sanctions, in particular businesses engaged in virtual currency activity. Relatedly, on March 2, Governor Hochul announced
On February 23, the Wisconsin House passed Assembly Bill 957 (AB 957), a bill relating to consumer data protection. This legislation is based on the Virginia Consumer Data Protection Act (VCDPA) and provides consumers with various rights about their data and imposes obligations on businesses. Wisconsin is the second state in 2022 to pass a
On March 1, the Supreme Court of California held oral arguments in Pulliam v. HNL Automotive, Inc., No. S267576 (2021). The appeal may decide (at least under California state law) whether the Federal Trade Commission’s (FTC) “Holder Rule” permits a consumer to recover amounts beyond what he or she has paid to the holder,
Thursday, March 3 • 4:00 – 5:00 p.m. ET
FCRA litigation continues to increase. 2021 was a busy year, and 2022 seems poised for a further increase in litigation and regulatory actions. Please join us for a complimentary webinar to discuss the significant FCRA cases from 2021 and what is on the horizon for 2022.
In Eggleston v. Reward Zone USA LLC, No. 2:20-cv-01027-SVW-KS (C.D. Cal. Jan. 28, 2022), the U.S. District Court for the Central District of California rejected the argument that text messages are “artificial or prerecorded voice messages” under the Telephone Consumer Protection Act (the TCPA).
The plaintiff, Lucine Trim, alleged that Reward Zone USA LLC
On February 28, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a bulletin and accompanying press release, highlighting an issue that the agency has written about frequently over the past several years: inadvertent repossessions. For the most part, the bulletin reminds the industry of guidance previously issued by the CFPB in several editions