Financial Services Practice Recognized for Excellence by Law360
Troutman Sanders LLP announced today that its Consumer Financial Services practice has been selected as one of Law360’s 2016 Practice Groups of the Year.
Troutman Sanders was recognized in Law360’s Consumer Protection category for excellence in representing and advising clients with respect to high-stakes litigation and
On December 22, the United States District Court for the Eastern District of Pennsylvania entered judgment in favor of the defendant in an action involving a Truth in Lending Act claim, and issued a stern rebuke to the plaintiff and his counsel, instituting Rule 11 proceedings and describing the case as “litigation out of control.”
On December 22, the California Supreme Court in Owen v. Miami Nation Enterprises, held that payday lending companies failed to prove by a preponderance of the evidence that they were “arms of” Indian tribes. Therefore, the lenders were not immune from complying with a California state lending law. In its decision, the Court reaffirmed
CashCall Inc. and Western Sky Financial LLC have settled another state action over alleged charging of interest rates in excess of the 18 percent limit. The action, filed by the Florida Office of Attorney General, alleged that loans with illegal interest rates were made to consumers by Western Sky and were later purchased, serviced,
On December 28, the New York Department of Financial Services (“NY DFS”) released its highly anticipated revised cyber security rule. As we previously noted here, the proposed regulations would require banks, insurance companies, and other financial services institutions to establish and maintain a cybersecurity program and to take other measures to protect against data
In its latest monthly snapshot report, the Consumer Financial Protection Bureau reported that it has handled approximately 285,800 debt collection complaints since July 21, 2011, making debt collection the most-complained-about product. Within the debt collection context, consumers’ most common complaint concerned attempts to collect on a debt that the consumer says is not owed.
A consumer reporting agency complies with § 1681k(a)(2) of the Fair Credit Reporting Act (“FCRA”) if it “maintain[s] strict procedures designed to insure that whenever public record information which is likely to have an adverse effect on a consumer’s ability to obtain employment is reported it is complete and up to date.” In Kelly v.
We are pleased to announce that Troutman Sanders partners John Lynch and Chad Fuller will be featured moderators and speakers, respectively, at the American Conference Institute’s 27th National Conference on Consumer Finance Class Actions and Litigation on January 24, 2017 at the W Miami Hotel.
John will moderate the second portion of the panel
According to the complaint in Ibrahim v. American Honda Motor Co., Inc., defendants Sterircycle, Inc. and Stericycle Communication Solutions, Inc. (collectively referred to herein as “Stericycle”) violated the Telephone Consumer Protection Act by making unauthorized telephone calls using a prerecorded or artificial voice to the cellular telephones of individuals throughout the nation.
Stericycle’s calling
The Consumer Financial Protection Bureau has released a new tool designed to help the public track consumer lending trends as well as identify future risks. The tool, available on the CFPB website, is called “Consumer Credit Trends,” and it currently tracks originations of mortgages, credit cards, auto loans and student loans. Within each of