Monitoring the financial services industry to help companies navigate through regulatory compliance, enforcement, and litigation issues
On May 10, 2016, the Federal Trade Commission (FTC) released new guidelines for employment background screening companies for compliance with certain consumer reporting agency requirements of the Fair Credit Reporting Act (FCRA). The FTC’s guidelines are yet another indication that FCRA compliance is a top federal regulatory priority
I. General Application of the FCRA
The…
We are pleased to announce that Troutman Sanders partner David Anthony will be a featured speaker at the 2016 ACA International Convention & Expo in Denver at the Hyatt Regency on June 16-18.
David will speak on a panel entitled “Industry Response to Current Trends in Fair Debt Collection Practices Act Enforcement.” He will …
We are pleased to announce that Troutman Sanders partner Ronald Raether will be a featured speaker at the American Conference Institute’s 19th Advanced Global Legal & Compliance Forum on Cyber Security & Data Privacy and Protection. The conference will take place at the Wyndham Grand Chicago Riverfront in Chicago on June 23-24.
Ron …
The Federal Trade Commission and several telephone billing companies submitted a proposed stipulated order to the United States District Court for the Western District of Texas to resolve allegations that the billing companies violated a 1999 court order and permanent injunction concerning charges of phone bill cramming. The billing companies have agreed to pay $5.2 …
On May 6, the Federal Communications Commission released a notice of proposed rulemaking to implement a provision of President Obama’s Bipartisan Budget Act of 2015, which creates an exception from the Telephone Consumer Protection Act’s (TCPA) consent requirement for robocalls “made solely to collect a debt owed to or guaranteed by the United States.”
The…
On May 4, the Federal Trade Commission announced that it had reached a settlement with Very Incognito Technologies, Inc., d/b/a Vipvape, a hand-held vaporizer manufacturer. The settlement resulted from the FTC’s allegations that Vipvape violated the FTC Act by representing on its website that it was a participant in the Asia-Pacific Economic Cooperation Cross-Border Privacy …
On May 3, the Federal Trade Commission announced that it had executed a stipulated judgment with over a dozen entities that market and sell green coffee bean extract weight-loss supplements, male enhancement products, and skin care products, and their affiliated payment processors arising out FTC allegations of wrongdoing. The allegations include that the …
On May 5, 2016, the CFPB announced proposed rules that would further restrict the ability of financial institutions to enter into mandatory arbitration clauses with consumers, including an outright ban on provisions that would prohibit consumers from pursuing class actions in court. The proposed rules do not forbid all mandatory arbitration clauses, however. Financial institutions…
On March 29, in Hall v. Phenix Investigations, Inc., No. 15-10533, 2016 U.S. App. LEXIS 5786 (5th Cir. Tex. Mar. 29, 2016), the United States Court of Appeals for the Fifth Circuit affirmed dismissal of an action alleging claims under the Fair Credit Reporting Act (“FCRA”) and Fair Debt Collection Practices Act (“FDCPA”). The …
On April 26, in Verkuilen v. Business Info. Group, Inc., No. 14-cv-400, 2016 U.S. Dist. LEXIS 55392 (E.D. Wis. Apr. 26, 2016), the United States District Court for the Eastern District of Wisconsin granted Defendant’s motion for partial summary judgment as to Plaintiff’s FCRA claims on the basis that they were time-barred. The FCRA …
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