Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can
Date: May 10 – 13, 2021
We are pleased to announce that Troutman Pepper attorneys, David Anthony, Angelo Stio III, and Troy Jenkins, will present the panel, “Racial Equity and Fair Lending Standards: What You Need to Know” on May 11 at the virtual OLA’s 2021 Compliance University. The panel will answer the
In Nyanhongo v. Credit Collections Servs., the Eastern District of Pennsylvania held that the display of “data symbols similar to a” quick response code (QR Code), without more, was insufficient to establish Article III standing.
In March 2020, Credit Collections Services mailed Tatenda Nyanhongo a collection letter. The outside of the envelope displayed the
The Federal Trade Commission (FTC) is acting swiftly to restore its authority to obtain consumer redress under Section 13(b) of the FTC Act after the Supreme Court’s recent decision in AMG Capital Management, LLC v. FTC, discussed in our blog post here, rejecting the agency’s longstanding position that Section 13(b) authorizes monetary remedies.
A federal court in Michigan recently ruled that out-of-state residents have standing to sue under the Michigan Personal Privacy Protection Act (PPPA). In Lin v. Crain Communications, Inc., Case No. 2:19-cv-11889 (E.D. Mich., June 25, 2019), Gary Lin, a Virginia resident, filed a putative class-action lawsuit against Crain Communications, Inc. (Crain), a Michigan-based publishing
We are pleased to announce that Troutman Pepper attorneys’ David Anthony, Julie Hoffmeister, and Edgar Vargas will present during the 16th Annual Credit and Collection News Conference. The conference will be held virtually from April 28 – 29, 2021. David, Julie, and Edgar’s presentation is entitled “Operationalizing the Virginia Consumer Data Protection Act: Leveraging
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can
In Hopkins v. Collecto, Inc., the Third Circuit Court of Appeals affirmed the dismissal of a putative class-action complaint, alleging that by itemizing interest and collection fees for a “static debt,” the letter violated the Fair Debt Collection Practices Act (FDCPA) by falsely implying that interest and fees could accrue and thereby increase the
On April 5, the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking (NPR) to amend Regulation Z, specifically to “prevent avoidable foreclosures” due to the COVID-19 pandemic “as the emergency federal foreclosure protections expire.”
The NPR mainly would do three things for loans secured by a borrower’s principal residence:
Illinois Governor J.B. Pritzker signed the Illinois Predatory Loan Prevention Act (Act) into immediate effect on March 23. The Act imposes sweeping changes and contains broad language, leaving the state’s lenders and borrowers with an uncertain future.
To understand this new law, one must recognize that Illinois based the Act on the federal government’s Military