In the largest redlining settlement in the department’s history, the U.S. Department of Justice (DOJ) announced that an agreement has been reached to resolve redlining allegations against a Los Angeles-based bank. Under the terms of the proposed consent order, the bank will pay more than $31 million to resolve the allegations that it engaged
On January 9, the district court for the Eastern District of New York dismissed a pro se plaintiff’s TCPA lawsuit for failure to properly allege that the defendants used an automatic telephone dialing system (ATDS) when placing calls to the plaintiff.
In Kannon v. Warranty Protection Services, the plaintiff alleged that the auto warranty
On December 21, 2022, outgoing Senator Pat Toomey (R-PA) introduced legislation entitled the Stablecoin TRUST Act of 2022 that would establish the first-ever federal regulatory framework for payment stablecoins. In the press release announcing the proposed legislation, Senator Toomey stated that he “put forward a regulatory model that won’t undermine competition by favoring entrenched incumbents
On January 11, the Consumer Financial Protection Bureau (CFPB) announced it reached a settlement with law firm Forster & Garbus, LLP in its lawsuit over alleged illegal debt collection practices. Specifically, the CFPB alleged that, from 2014 through 2016, fewer than a dozen attorneys filed more than 99,000 debt collection lawsuits, while having the requisite
As forecasted in its 2022 Fall Rulemaking Agenda discussed here, today the Consumer Financial Protection Bureau (CFPB) published a proposed rule with request for public comments that would require certain nonbank covered entities, with limited exceptions, to submit information on terms and conditions in their form contracts that “seek to waive or limit
As discussed here, on June 21, 2022, the United States Department of Justice (DOJ) filed a lawsuit and on June 27, 2022, obtained a settlement agreement with Meta Platforms Inc. (Meta previously known as Facebook) to resolve allegations that Meta’s housing advertising system discriminated against Facebook users in violation of the Fair Housing Act
On December 30, 2022, New York Governor Kathy Hochul signed the Foreclosure Abuse Prevention Act (FAPA) into law. The legislation remained unchanged from its passing back in May 2022 despite many industry experts expecting Governor Hochul to amend certain portions, including its retroactive effect. The FAPA, however, which takes effect immediately, applies retroactively and effectively
The district court for the Northern District of California recently granted a motion to deny class certification in an action brought under the Telephone Consumer Protection Act (TCPA) based on the plaintiff’s inability to vigorously represent the class.
In Trim v. Mayvenn, Inc., the named plaintiff alleged that, although she registered her cell phone
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week:
Recently, in Velez v. Absolute Resolutions Investments., LLC, the district court for the Northern District of Illinois confirmed the long-standing principle that not all communications sent from a debt collector to a debtor are governed by the Fair Debt Collection Practices Act (FDCPA). Instead, the communications must be in connection with the collection of