When mortgage servicers use periodic statements sent under the Truth in Lending Act (TILA) to collect a debt, they can be held liable under the Fair Debt Collection Practices Act (FDCPA) for any misleading or unconscionable representations made in those statements. Applying this reasoning, the Eleventh Circuit recently overturned a dismissal of a FDCPA case
In Palacio v. Med. Fin. Sols., No. 21 CV 1288 (N.D. Ill. June 14, 2022), the court granted summary judgment in favor of the defendant, finding that it did not qualify as a “debt collector” under the Fair Debt Collections Practice Act (FDCPA).
Defendant Medical Financial Solutions (Medical Financial) works with medical care
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:
Privacy and Cybersecurity Activities
On May 25, the Federal Trade Commission (FTC) entered a Stipulated Order for Monetary Judgment against Publishers Business Services, Inc. (PBS), and its officers, Brenda Dantuma Schang, Dries Dantuma, Dirk Dantuma, and Jeffrey Dantuma imposing a suspended judgment of $14.47 million.
In 2008, under “Operation Tele-PHONEY,” the FTC joined forces with more than 30 international,
On July 18, a New Jersey district court ruled that a customer’s contract termination with a merchant does not also terminate the “established business relationship” (EBR) exception for purposes of the Telephone Consumer Protection Act (TCPA). The decision sheds light on an exception to the TCPA that likely will take on increasing importance, following the
On July 19, the U.S. District Court for the District of Delaware issued a decision that should draw the attention for banks that charge overdraft fees for overdraft protection.
In Miller v. Del-One Federal Credit Union, plaintiff Joanne Miller alleged that the defendant credit union violated Regulation E, promulgated under the Electronic Fund Transfers
On July 6, the U.S. District Court for the Middle District of Florida granted final approval of a multimillion-dollar, class-action settlement in Parker v. Stoneledge Furniture, LLC, et al., No. 21-740 (M.D. Fla.) to resolve claims brought under the Telephone Consumer Protection Act (TCPA) against furniture companies Stoneledge Furniture LLC and Southwestern Furniture of
On July 19, the Federal Housing Finance Agency (FHFA or the Agency) announced the establishment of the Office of Financial Technology to serve as a source of information, Agency support in addressing emerging risks, and avenue to advance Agency priorities as to the adoption and deployment of financial technology (fintech). At the same time, the
As peer-to-peer money transfer services (or cash apps) become more popular, there has been an increase in the number of scams enticing consumers to transfer funds to fraudsters. The law currently provides that the banks that own the cash apps are only required to reimburse transactions not authorized by the customer — meaning if a
On July 15, the California Department of Financial Protection and Innovation (DFPI) issued an invitation for comments on proposed additions to regulations implementing the Debt Collection Licensing Act (DCLA). According to the invitation, the new provisions pertain “to the scope, annual report, and document retention requirements of the DCLA.” For example, the proposed regulations define