In its latest monthly snapshot report, the Consumer Financial Protection Bureau reported that it has handled approximately 285,800 debt collection complaints since July 21, 2011, making debt collection the most-complained-about product. Within the debt collection context, consumers’ most common complaint concerned attempts to collect on a debt that the consumer says is not owed.
District Court Finds That “Complete and Up to Date” Requirement of FCRA § 1681K Does Not Include an Accuracy Component
A consumer reporting agency complies with § 1681k(a)(2) of the Fair Credit Reporting Act (“FCRA”) if it “maintain[s] strict procedures designed to insure that whenever public record information which is likely to have an adverse effect on a consumer’s ability to obtain employment is reported it is complete and up to date.” In Kelly v.
Join Us for the ACI Consumer Finance Class Actions & Litigation Conference in Miami
We are pleased to announce that Troutman Sanders partners John Lynch and Chad Fuller will be featured moderators and speakers, respectively, at the American Conference Institute’s 27th National Conference on Consumer Finance Class Actions and Litigation on January 24, 2017 at the W Miami Hotel.
John will moderate the second portion of the panel
Summary Judgment Motion is Filed in TCPA Class Action Involving Airbag Recall
According to the complaint in Ibrahim v. American Honda Motor Co., Inc., defendants Sterircycle, Inc. and Stericycle Communication Solutions, Inc. (collectively referred to herein as “Stericycle”) violated the Telephone Consumer Protection Act by making unauthorized telephone calls using a prerecorded or artificial voice to the cellular telephones of individuals throughout the nation.
Stericycle’s calling
CFPB Releases Tool to Track Consumer Lending
The Consumer Financial Protection Bureau has released a new tool designed to help the public track consumer lending trends as well as identify future risks. The tool, available on the CFPB website, is called “Consumer Credit Trends,” and it currently tracks originations of mortgages, credit cards, auto loans and student loans. Within each of
CFPB Updates Rulemaking Agenda
On December 2, the Consumer Financial Protection Bureau issued a statement highlighting its updated rulemaking agenda for Fall 2016. The Bureau specifically mentioned a number of supervisory and developmental initiatives scheduled for implementation in the coming months.
In the area of mortgages, the CFPB expects to finalize proposed tweaks to the Know Before You Owe
Southern District of New York Relies on Spokeo to Dismiss TILA Credit Card Suit
On December 16, U.S. District Judge Paul A. Engelmayer dismissed a putative class action suit alleging that Nordstrom department store’s credit card account disclosures violated the Truth in Lending Act (“TILA”). Relying on the Supreme Court’s decision in Spokeo, Inc. v. Robins, the Court concluded that the plaintiff did not have standing to bring
Arkansas AG Files Suit Against Credit Repair Organization
On December 20, Arkansas Attorney General Leslie Rutledge filed a consumer protection lawsuit in the United States District Court for the Eastern District of Arkansas against Florida-based Capital Credit Solutions Inc. and Willie J. McKenzie for alleged violations of the Federal Credit Repair Organization Act, the Arkansas Deceptive Trade Practices Act, and the Arkansas Credit
L.A. Becomes Latest Jurisdiction to “Ban the Box” for Private Employers
Los Angeles recently became the latest major city to pass a city ordinance that “bans the box” regarding inquiries into job applicants’ criminal histories from initial employment applications. The ordinance is significant in that it specifically regulates private sector employers with 10 or more employees. Under the ordinance, private employers will be prohibited from asking
Federal Communications Commission Chairman Tom Wheeler Announces Resignation on Dec. 15, 2016, Signaling Potential Reform to the Telephone Consumer Protect Act (TCPA)
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Federal Communications Commission Chairman Tom Wheeler said Thursday that he’ll step down from his post on Jan. 20, 2017. Wheeler was appointed by President Obama three years ago to lead the FCC. Prior to his October 2013 confirmation as the 31st chairman of the FCC, Wheeler served as managing director at venture capital firm |