The Consumer Financial Protection Bureau recently released a Compliance Bulletin regarding fees that companies may charge consumers when they pay by phone.
The Bulletin highlights certain practices related to phone payment fees that may violate the Dodd-Frank Act’s prohibition on committing unfair, deceptive, or abusive acts and practices (UDAAPs), including:
Twenty-one Democratic state attorneys general wrote to Senate leaders Mitch McConnell and Charles Schumer to express their opposition to S.J. Res. 47, which would nullify the Arbitration Rule issued by the Consumer Financial Protection Bureau under the Congressional Review Act. The AGs requested that both senators oppose the Joint Resolution of Disapproval
Financial professionals often recommend a reverse mortgage loan as a way to delay claiming Social Security benefits. A reverse mortgage, federally insured through the Federal Housing Association’s (“FHA”) Home Equity Conversion Mortgage Program (“HECM”), allows homeowners age 62 and older to borrow against the equity in their homes and defer payment of the loan until
On August 16, Minnesota Attorney General Lori Swanson announced the filing of a lawsuit against two pension advance companies alleged to have preyed on veterans and senior citizens, convincing borrowers into signing over large portions of their monthly pensions in exchange for small loans to cover household emergencies and basic living expenses.
The suit, filed
The Ninth Circuit in L.A. Lakers v. Federal Ins. Co., No. 15-55777 (9th Cir. August 23, 2017), ruled that a D&O policy’s invasion of privacy exclusion barred coverage for a claim alleging that the insured violated the Telephone Consumer Protection Act (“TCPA”). The plaintiff in the TCPA case alleged that he had responded via
On August 17, the Consumer Financial Protection Bureau filed a complaint and proposed settlement against Aequitas Capital Management, Inc. and its related entities, alleging that the loan buyer aided the Corinthian Colleges’ predatory lending scheme. According to the Bureau, Aequitas enabled Corinthian to make high-cost private loans to Corinthian students, giving the impression that the
On August 15, 2017, the Ninth Circuit issued its decision on remand in Spokeo, reversing and remanding the case to the District Court after finding that the named Plaintiff, Thomas Robins, has standing to pursue his claims.
Background
In Spokeo, Inc. v. Robins, Plaintiff Robins sued the “people search engine” for alleged violations
On August 1, the Seventh Circuit Court of Appeals in Groshek v. Time Warner Cable, Inc. affirmed the Eastern District of Wisconsin’s dismissal of a putative Fair Credit Reporting Act class action on the basis of Article III standing. Specifically, applying the Supreme Court’s decision in Spokeo, Inc. v. Robins, 136 S. Ct. 1540
On August 4, the Brooklyn Events Center, LLC d/b/a Barclays Center, Levy Premium Foodservice Limited Partnership, and Professional Sports Catering LLC were hit with a putative class action alleging that the businesses use discriminatory criminal history screening policies to deny employment to qualified job applicants.
According to the complaint, the named plaintiff, Felipe
On July 28, the Federal Trade Commission filed a lawsuit in the United States District Court for the District of Arizona against several merchants, an Independent Sales Organization (“ISO”), and their affiliated companies (a total of twelve defendants) alleging that they had engaged in credit card laundering in violation of Sec. 13(b) of the FTC