The FTC and Florida Attorney General Pam Bondi obtained an ex parte temporary restraining order from the United States District Court for the Middle District of Florida on June 22, temporarily halting several Orlando-based companies from allegedly making illegal robocalls designed to trick consumers nationwide into paying for “worthless credit card interest rate reduction programs.”…

We recently reported on the TILA-RESPA Integrated Disclosure Rule (TRID), scheduled to go into effect later this year.  On June 9, several trade groups, including the American Bankers Association and the Mortgage Bankers Association jointly authored a letter to the House Financial Services Committee, urging the passage of H.R. 2213, introduced in the House …

On June 2, the U.S. Court of Appeals for the D.C. Circuit categorically rejected consolidated petitions by several states, municipalities, industrial entities, and environmental groups challenging findings by the Environmental Protection Agency that designated regions had failed to meet certain ozone restrictions under the Clean Air Act (42 U.S.C. §§ 7401 et seq.). 

At …

This month, Consumer Financial Protection Bureau Director Richard Cordray issued a groundbreaking decision in the first ever appeal of an administrative enforcement proceeding.  In his decision, Cordray largely affirmed the November 2014 judgment of Administrative Law Judge Cameron Elliot.  Judge Elliot had found that PHH Corp., a mortgage lender, violated the Real Estate Settlement Procedures…

On June 23, the Consumer Financial Protection Bureau issued the eighth edition of its “Supervisory Highlights,” which covered supervisory activities the Bureau completed between January and April 2015.

The CFPB oversees depository institutions and credit unions with total assets of more than $10 billion, as well as their affiliates.  Under the Dodd-Frank Wall Street Reform…

On June 23, West Virginia Attorney General Patrick Morrisey announced that he had reached a settlement with Dominion Management Services, a vehicle title loan company that does business as CashPoint.  The agreement will result in CashPoint forgiving about $2.36 million in consumer loan debt, and releasing liens on hundreds of titles of vehicles owned by…

As we discussed last year, the Federal Trade Commission announced in May 2014 that it settled charges against Asset Capital and Management Group for illegally extracting payments from consumers for credit card debt that it had purchased from creditors.

In addition to banning the defendants – which includes individuals behind the scheme, a network …

On June 30, the Third Circuit Court of Appeals joined a number of federal judicial circuits in holding that immaterial misstatements do not violate the Fair Debt Collection Practices Act (FDCPA).

In this case, Plaintiff defaulted on her loan, and Defendant – a debt collector – obtained a default judgment against her.  Defendant then…

Troutman Sanders LLP announced today that Jon S. Hubbard has rejoined the firm’s Financial Services Litigation practice as Of Counsel in the Richmond office.  He returns to the firm from Capital One, where he was Assistant General Counsel and Director of Mortgage Litigation.

At Capital One, Hubbard represented the company on a national basis in…

Effective July 1, the Georgia Governor’s Office of Consumer Protection is moving administratively to the Office of the Georgia Attorney General.  At that point and thereafter, the office will be known as the Consumer Protection Unit (CPU) of the Law Department.  According to its announcement concerning this move, the unit will continue to perform essentially …