The Clarifying Lawful Overseas Use of Data Act, commonly referred to as the “CLOUD Act,” a last-minute addition to the $1.3 trillion federal spending bill, has been signed into law by President Donald Trump. The Act allots the United States government more access to Americans’ overseas data for law enforcement purposes and helps foreign governments
The U.S. Department of Justice recently filed a lawsuit in California federal court alleging that California Auto Finance, a subprime auto lender, violated the Servicemembers Civil Relief Act by repossessing the motor vehicle of an active military servicewoman on her first day of training.
The SCRA prohibits a lender from repossessing a motor vehicle from
On March 21, the House Financial Services Committee voted 35-25 to approve a bill that would amend the Fair Debt Collection Practices Act to exclude lawyers and law firms from the definition of a “debt collector” when such entities are engaged in “activities related to legal proceedings.” Introduced by Rep. Alex Mooney (R-W.Va.) in February,
The Supreme Court recently held that civil actions consolidated under Rule 42(a) retain their separate identities, so that a final decision in one action is immediately appealable by the losing party, even if other actions in the consolidated proceeding remain.
Consumer litigation often lends itself to consolidation under Federal Rule of Civil Procedure 42 because
On March 22, 2018, the Eastern District of New York granted summary judgment to a collection agency in a “current account balance” case. Specifically, the Court found no violation of the FDCPA because in its letter the debt collector did not have to notify the consumer that her balance may increase and the creditor was
On March 29, 2018, the United States Court of Appeals for the Second Circuit rendered a long-awaited opinion in what is commonly called a “reverse-Avila” or “current account balance” case, holding that it is not a violation of the Fair Debt Collection Practices Act (“FDCPA”) for a debt collector to state a consumer’s
Psychologists say that adolescents and young adults take more risks than any other age group. Perhaps this is why about one in five (21.2%) college students receiving financial aid to pay for their education have invested these loans in a cryptocurrency, according to a recent survey by The Student Loan Report, a website for student
As newspaper articles, academic studies, and politicians’ speeches have repeated, statistics suggest that a student loan crisis may be building. The share of students graduating with more than $50,000 in student loan debt has more than tripled since 2000, increasing from 5% in 2000 to 17% in 2014. As a result, this group of “large-balance
Senator Jerry Moran (R-Kan.) recently introduced a resolution to overturn guidance promulgated by the Consumer Financial Protection Bureau in 2013. The resolution seeks to invalidate the Bureau’s guidance under the Congressional Review Act, the same statute that permitted Congress to overturn the arbitration rule.
The guidance at issue is the CFPB’s highly
On June 9, 2017, under the leadership of its former director, the Consumer Financial Protection Bureau issued a modified civil investigative demand, or “CID,” containing the following Notification of Purpose:
The purpose of this investigation is to determine whether a [sic] student-loan servicers or other persons, in connection with