On June 10, the Consumer Financial Protection Bureau (CFPB) issued a final rule extending the compliance deadline for key provisions of its controversial Payday Lending Rule. The new compliance deadline is November 19, 2020, but the CFPB – despite sharp criticism from consumer advocates and leading Democrats – is expected to rescind the most controversial
On May 29, the Consumer Financial Protection Bureau announced a settlement with BSI Financial Services, a Texas-based mortgage servicer. Acting as a reminder to mortgage servicers of the importance of maintaining rigorous information management systems, the CFPB alleged BSI violated the Consumer Financial Protection Act of 2010, the Real Estate Settlement Procedures Act, and the
In a closely watched case, the Ninth Circuit issued an 8-3 en banc decision reinstating a $210 million multidistrict class action settlement involving the fuel efficiency of Hyundai and Kia vehicles on June 6, 2019.
Through its decision, the Court overturned a previous panel decision from January 2018 that held that courts must weigh individual
It is well settled that the purpose of filing a bankruptcy petition is to “give[] the honest but unfortunate debtor . . . a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of pre-existing debt.” Local Loan Co. v. Hunt, 292 U.S. 234,
Consumer Financial Protection Bureau Director Kathy Kraninger is proving to be more aggressive than her predecessor, Mick Mulvaney. In recent weeks, Kraninger has issued seven orders strictly enforcing the Bureau’s civil investigative demands, or “CIDs,” demonstrating that she intends to be a vigorous consumer advocate:
On May 30, a district court judge in the Middle District of Georgia granted a debt collector’s motion for judgment on the pleadings, ruling that the debt collector’s “submit a dispute” statement did not overshadow the letter’s 15 U.S.C. § 1692g notice under the Fair Debt Collection Practices Act.
As required by
On June 6, the Federal Communications Commission unanimously approved a declaratory ruling affirming that voice service providers may, as the default setting for phones, block robocalls. This aggressive position means that service providers are strongly encouraged to use reasonable call analytics to block calls before those calls even reach a consumer’s phone.
While the FCC
On May 29, medical software company Medical Informatics Engineering, Inc. and its subsidiary NoMoreClipboard, LLC settled a first-of-its-kind lawsuit brought by several state attorneys general alleging violations of the Health Insurance Portability and Accountability Act following a data breach.
The multi-state lawsuit, filed in the U.S. District Court for the Northern District of Indiana, alleged
On May 7, the Consumer Financial Protection Bureau (CFPB) released a 538-page Notice of Proposed Rulemaking (the Rule) that would update the Fair Debt Collection Practices Act (FDCPA). The Rule would be the first major update to the FDCPA since its enactment in 1977 and gives much-needed clarification on the bounds of federally-regulated activities of
Last week, the Eighth Circuit affirmed dismissal of a putative class action data breach lawsuit, holding that the named plaintiff failed to allege standing based on a single fraudulent charge to his credit card. A copy of the opinion can be found here.
In 2014, hackers accessed customer financial information from hundreds of retail