The Federal Trade Commission (“FTC”) is holding its public workshop today on the proposed changes to the Gramm-Leach-Bliley Act of 1999’s Safeguards Rule (“Safeguards Rule”). For background, the Safeguards Rule requires financial institutions, and potentially affiliates and/or service providers, to keep customer information secure. The FTC has stated it seeks to modify the Safeguards Rule
Today, the Supreme Court granted certiorari in Duguid v. Facebook to decide, once and for all, whether an automatic telephone dialing system (ATDS), as the Telephone Consumer Protection Act (TCPA) defines the phrase, requires random or sequential number generation. The case will be argued before the Court in the October 2020 Term.
Background
In its
The Consumer Financial Protection Bureau (CFPB) issued a final rule on July 7, 2020 rescinding the mandatory ability to repay underwriting provisions on small dollar loans that it had previously announced under 12 C.F.R. § 1041 (the Final Rule). The Final Rule has left the payments provisions intact.
The CFPB first finalized regulations governing small
On July 1, the Cybersecurity and Infrastructure Security Agency (“CISA”) launched its second installment of the “Cyber Essentials Toolkit” titled, “Your Staff, The Users.” This installment follows last month’s “Yourself, The Leader,” where CISA provided business leaders with information to better implement a culture of cyber readiness within organizations. To read more about the first
On July 2, 2020, three Senators – John Thune (R-S.D.), Jerry Moran (R-Kan.), and Todd Young (R-Ind.) – introduced a bill to update the law regarding the use of electronic documents in commerce.
The Electronic Signatures in Global and National Commerce Act (E-Sign Act), 15 USCS § 7001 et seq., was originally enacted in
The United States Supreme Court issued its much-awaited decision in Barr v. American Association of Political Consultants on Monday, July 6, striking down the government-backed debt exemption in the Telephone Consumer Protection Act (TCPA). The Court did not go so far as to invalidate the TCPA as a whole, however, finding instead that the unconstitutional
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
One of the first lines of defense when defending allegations of a statutory violation is the statute of limitations. As a complete bar to a plaintiff’s claims, the statute of limitations is one of the most powerful tools in a defense litigator’s pocket. Recently, the Fourth Circuit joined the Sixth, Eighth, and Tenth Circuits in
The Federal Communications Commission (FCC) issued a noteworthy order on June 25, 2020, in its continuing interpretation of the Telephone Consumer Protection Act (TCPA). In its order, the FCC confirmed many courts’ existing interpretation of the TCPA, noting that any text platform that requires manual entry of telephone numbers and manual launching of texts on
On June 9, the U.S. Court of Appeals for the Seventh Circuit affirmed the U.S. District Court for the Northern District of Indiana‘s entry of summary judgment in favor of a defendant debt collector in a claim under Title 15 of the U.S. Code, Section 1692(e) — stating that “mere speculation” that a collection