Monitoring the financial services industry to help companies navigate through regulatory compliance, enforcement, and litigation issues
On March 23, the United States District Court for the Southern District of Florida granted preliminary approval of a nearly $31 million Fair and Accurate Credit Transactions Act (“FACTA”) class action settlement against Doctor’s Associates, Inc., doing business as Subway – the largest settlement to date in the history of FACTA.
According to the c…
We are pleased to announce that Troutman Sanders partners Keith Barnett, Ashley Taylor and David Anthony will be featured speakers at the 2017 Third Party Payment Processors Association (“TPPPA”) Annual Conference taking place May 17-19 at The Westin Washington, DC City Center. Keith and Ashley will participate in a panel to address the current legal…
We are pleased to announce that Troutman Sanders partners John Lynch and Ashley Taylor will be featured speakers at this year’s Consero Financial Services & Insurance Litigation Forum on April 2-4, 2017 at The Biltmore Miami – Coral Gables.
Consero’s 2017 Financial Services & Insurance Litigation Forum will address current and looming legal and business …
The Fair Credit Reporting Act (FCRA) is not a strict liability statute. To prevail, a plaintiff must prove that the statute was violated willfully or negligently. While plaintiffs typically pursue willfulness claims because of the possibility of statutory and punitive damages, they often include vague allegations of emotional distress and actual damages in order to…
This past week, the U.S. District Court for the Northern District of California declined to preliminarily approve a class action settlement of a Fair Credit Reporting Act (FCRA) claim because the payment to class members was unreasonably low. In the Court’s view, the class members deserved more in light of the strengths of the plaintiff’s…
On March 28, the Consumer Financial Protection Bureau released its monthly complaint snapshot, with a specific focus on credit cards. Since its inception in July 2011, the Bureau has handled 1,136,000 consumer complaints across all products, with 116,200 complaints related to credit cards. The CFPB received 26,300 complaints in February 2017, with 2,299 of those…
The Fair Employment and Housing Council published the final text for the “Consideration of Criminal History in Employment Decisions” regulation on March 27, 2017. This regulation, effective July 1, 2017, impacts employers’ consideration of criminal history information for employment purposes, including those related to layoffs. Employers are well-advised to take a fresh look…
On March 23, New York Attorney General Eric Schneiderman announced settlements with three health-related applications sold in Apple’s App Store and Google’s Play Store. The settlements arose from allegations of misleading claims and irresponsible privacy practices. Under the terms of the settlements, the developers agreed to provide additional information about how the apps …
On February 9, 2017, Judiciary Committee Chair Bob Goodlatte (R.-Va.), introduced H.R. 985, the Fairness in Class Action Litigation Act of 2017 (“the Act”). The Act aims to “amend the procedures used in federal court class actions and multidistrict litigation proceedings to assure fairer, more efficient outcomes for claimants and defendants.” Rep. Goodlatte issued a…
On March 22, New York Attorney General Eric Schneiderman announced that his office reached a $540,000 settlement with Freedom Stores, a Norfolk, Virginia-based retailer that sold furniture and electronics in stores near military bases. Schneiderman said that the settlement will clear debt and judgments charged to 257 soldiers from New York serving at various locations …
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