On December 2, the Consumer Financial Protection Bureau issued a statement highlighting its updated rulemaking agenda for Fall 2016. The Bureau specifically mentioned a number of supervisory and developmental initiatives scheduled for implementation in the coming months.
In the area of mortgages, the CFPB expects to finalize proposed tweaks to the Know Before You Owe
On December 16, U.S. District Judge Paul A. Engelmayer dismissed a putative class action suit alleging that Nordstrom department store’s credit card account disclosures violated the Truth in Lending Act (“TILA”). Relying on the Supreme Court’s decision in Spokeo, Inc. v. Robins, the Court concluded that the plaintiff did not have standing to bring
On December 20, Arkansas Attorney General Leslie Rutledge filed a consumer protection lawsuit in the United States District Court for the Eastern District of Arkansas against Florida-based Capital Credit Solutions Inc. and Willie J. McKenzie for alleged violations of the Federal Credit Repair Organization Act, the Arkansas Deceptive Trade Practices Act, and the Arkansas Credit
Los Angeles recently became the latest major city to pass a city ordinance that “bans the box” regarding inquiries into job applicants’ criminal histories from initial employment applications. The ordinance is significant in that it specifically regulates private sector employers with 10 or more employees. Under the ordinance, private employers will be prohibited from asking
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Federal Communications Commission Chairman Tom Wheeler said Thursday that he’ll step down from his post on Jan. 20, 2017. Wheeler was appointed by President Obama three years ago to lead the FCC. Prior to his October 2013 confirmation as the 31st chairman of the FCC, Wheeler served as managing director at venture capital firm |
On December 16, the Consumer Financial Protection Bureau executed a consent order with Moneytree, Inc., whereby Moneytree was required to pay $255,000 in redress and an additional $250,000 in civil monetary penalties arising out of the Bureau’s allegations that Moneytree violated the Consumer Financial Protection Act (“CFPA”) and the Electronic Funds Transfer Act (“EFTA”). According
The United States District Court for the District of New Jersey recently held in Samuel Chisholm v. AFNI, Inc. that a debt collector “could not reasonably be found to violate” the Fair Debt Collection Practices Act by calling a consumer 18 times on his cell phone over the course of 13 days. All calls were
On December 19, the Consumer Financial Protection Bureau filed four nearly identical lawsuits against lenders based in the Commonwealth of Virginia. Copies of the complaints can be found here, here, here, and here. The complaints allege that the defendants violated the Truth in Lending Act and Consumer Financial Protection Act by
The U.S. District Court for the Eastern District of Tennessee recently held that a debt collector’s civil court summons requesting “reasonable attorney fees” does not violate the Fair Debt Collection Practices Act. In Wilma Jones et al. v. Hospital of Morristown (Case No. 2:16cv13, 2016 LEXIS 153869 (E.D. Tenn. Oct. 6, 2016)), the plaintiff argued
On December 16, the Federal Trade Commission filed suit in Kansas federal court against Joel Tucker and the business entities he purportedly controls, alleging that Tucker marketed, distributed, and sold counterfeit debt portfolios that purport to identify consumers who have defaulted on payday loans.
Specifically, Tucker and his companies allegedly sold spreadsheets to debt collectors