The Eighth Circuit Court of Appeals held that the actions of a debt collector are not necessarily imputed to a debt buyer. This holding reversed the Western District of Arkansas District Court, which held that the actions of the debt collector are necessarily imputed to the debt buyer. The full opinion of Reygadas v. DNF
New Bill From Congress Extends National Ban On Evictions And Provides Rental Assistance
In the new COVID-19 aid bill passed by both houses of Congress on Sunday, December 21 – the full text of which can be found here – and awaiting presidential approval, the national moratorium on evictions would be extended through January 31, 2021. Additionally, a fund of $25 billion will be established to assist qualifying
FTC Settles with Payment Processor and Former CEO for $1.5 Million Over Charges They Facilitated Fraud
The Federal Trade Commission (FTC) on December 9, 2020, settled with Complete Merchant Solutions, LLC (CMS) and its former CEO, Jack Wilson, requiring them to pay $1.5 million, refrain from processing payments for certain merchants and enact enhanced client screening protocols.
The FTC alleged that CMS and Wilson facilitated fraud by processing consumer credit card
Maine Federal Court Finds State-Imposed Credit Reporting Restrictions Preempted by the FCRA
A federal court in Maine recently held that the federal Fair Credit Reporting Act (“FCRA”), 15 U.S.C. § 1681, et seq., preempts burdensome credit reporting restrictions imposed by the Maine Fair Credit Reporting Act. “By seeking to exclude additional types of information” from consumer credit reports, the court held that “the Maine Amendments
Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter
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
Maryland Court of Special Appeals Holds That Foreclosure Actions Are Not Subject to a Statute of Limitations
Troutman Pepper represented the defendant/appellee in Wanda Daughtry, et al v. Jeffrey Nadel, a case in which the appellants argued that a foreclosure action filed six years after the borrowers defaulted was time-barred. The case concerned whether Maryland’s default three-year statute of limitations for “actions at law” applied to a foreclosure action. The Court
11th Circuit Upholds Ruling for Defendants Regarding TCPA Consent
On December 4, 2020, the Eleventh Circuit issued a ruling in Lucoff v. Navient Solutions, LLC, et al., holding Lucoff’s oral revocation of consent to be contacted under the Telephone Consumer Protection Act (“TCPA”) followed by re-consenting to be contacted minutes later via an online form was valid consent under the TCPA.
Lucoff was
Supreme Court to Take a Stand on Standing, Granting Cert. of 9th Circuit’s Ramirez Decision
The Supreme Court granted cert in Ramirez v. TransUnion LLC to consider “whether either Article III or Rule 23 permits a damages class action where the vast majority of the class suffered no actual injury, let alone an injury anything like what the class representative suffered.” This development is a welcomed opportunity for clarity in
Relying on Commonly Used Name, Without More, Does Not Violate the FDCPA
On December 4, Judge William M. Conley, in the Western District of Wisconsin, granted a defendant debt collector’s motion to dismiss without prejudice. The Court determined that while the plaintiff Mikayla Fellenz has standing to sue under the Fair Debt Collection Practices Act (FDCPA), her claim that the identification of the creditor was confusing and
Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter
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