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
Yet another Seventh Circuit decision has affirmed that a violation of the Fair Debt Collection Practices Act (FDCPA) does not, by itself, create an injury-in-fact sufficient for Article III standing. This time, however, two judges concurring in judgment voiced their belief that the circuit has gone too far in its interpretation of the Supreme Court’s
On May 18, the Federal Trade Commission’s (FTC) Acting chairwoman told Congress that the U.S. Chamber of Commerce’s opposition to legislation that would authorize the FTC to obtain monetary remedies under Section 13(b) of the FTC Act was based on “numerous misstatements and faulty premises.” Chairwoman Slaughter’s comments highlight the FTC’s concern that the Supreme
On May 6, Google announced that mobile app developers will be required to publish their privacy policies and make other privacy disclosures in a new “safety” section within Google Play beginning in Q2 2022. Google’s announcement is reminiscent of Apple’s June 2020 announcement that app developers publishing in its App Store must publish privacy “nutrition
On May 17, the Consumer Financial Protection Bureau (CFPB) announced a settlement with DMB Financial LLC, a Massachusetts-based debt-settlement company.
In its complaint, the CFPB alleged that DMB Financial violated the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act of 2010 (CFPA) by charging illegal fees and misleading consumers about its business practices.
We are pleased to announce that Troutman Pepper attorney, David Anthony, will present during the CDIA 2021 Virtual Law & Industry Conference. This year’s conference will be comprised of insightful, interactive sessions exploring the future of consumer reporting amid shifts in leadership at the CFPB and FTC, evolving privacy regulations, and the impact of
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
The Second Circuit recently issued a decision in McMorris v. Carlos Lopez & Associates, LLC, No. 19-4310, 2021 U.S. App. LEXIS 12328 (2nd Cir. Apr. 26, 2021), which clarifies the circumstances under which plaintiffs alleging an increased risk of future identity theft or fraud due to the exposure of their personal data can establish
On May 12, the Senate Commerce Committee voted overwhelmingly to move forward with Lina Khan’s nomination to the Federal Trade Commission (FTC), which suggest that Khan is likely to be confirmed as an FTC commissioner by the full Senate. Khan has been a critic of big tech and advocate of competitive markets, as we previously
The Department of Financial Protection and Innovation (DFPI) of California entered a settlement agreement with Chime Financial, Inc. (Chime), a neobank company that is not licensed to operate as a bank or otherwise exempt from licensure, but works with banking partners to issue consumer banking products. The DFPI found that Chime potentially violated California Financial