Oral argument—whether at the trial level or on appeal—is a crucial inflection point in the life of any case. And when it comes to oral advocacy, consumer cases present their own special challenges. How do you distill a complex set of statutes, regulations, and detailed factual timelines into something clean, clear, digestible, and memorable for
Banking trade groups are challenging a request for information (RFI) issued by the Consumer Financial Protection Bureau (CFPB) regarding customer service at large financial institutions. In a joint letter dated August 22, the Bank Policy Institute, Consumer Bankers Association, and the American Bankers Association objected to the CFPB’s insinuation that big banks are providing a
As we previously posted on June 23, the Federal Trade Commission (FTC or Commission) released a proposed Motor Vehicle Dealers Trade Regulation Rule. This new rule could allow the FTC to regulate dealers exempt from the Consumer Financial Protection Bureau’s (CFPB) jurisdiction under Section 1029(a) of the Dodd-Frank Act and would impose significant limits on
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, the Ninth Circuit joined its sister circuit, the Eleventh, in vacating class settlements on standing grounds. In Harvey v. Morgan Stanley Smith Barney LLC, the court vacated the district court’s approval of the settlement agreement and remanded with instructions that the district court assess each individual class member for sufficient injury.
The litigation
On July 29, the Federal Trade Commission (FTC) filed a complaint and executed a stipulated order with payment processor First American Payment Systems LP (First American) and companies that market its services — Eliot Management Group LLC (Eliot) and Think Point Financial LLC (Think Point) (collectively, the defendants). The FTC alleged that the defendants violated
Wednesday, August 17 • 2:30 – 3:30 p.m. ET
While it’s no surprise that fair lending is among the regulators’ top issues in 2022 – if not THE top issue – it’s a good idea to be aware of new areas in which this is evaluated. One such area is bias within the appraisal and
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:
In a 7-4 split decision, the Eleventh Circuit declined to rehear en banc a panel decision issued in September 2020, holding a class settlement that included an incentive award to the class representative was improper. The en banc majority did not issue an opinion, but the four dissenting judges criticized the panel decision as wrongly
This week, the Department of Justice (DOJ) resolved Servicemembers Civil Relief Act (SCRA) claims against two affiliated Virginia landlords for allegedly obtaining unlawful court judgments against military tenants. To settle the claims, the landlords agreed to pay restitution to affected servicemembers, a civil penalty to the United States, and various injunctive relief. This action is