On October 5, the Consumer Financial Protection Bureau issued its much anticipated final rules regulating prepaid card accounts. The final rules follow the proposed rules that the Bureau issued in December 2014, and are mostly unchanged from the proposed rules. The new rules apply to “prepaid accounts,” which the Bureau defines as accounts that are
Illinois Court Refuses to Dismiss Case After Tender of Monetary Relief as Courts Continue to Wrestle with Campbell-Ewald Aftermath
In Practice Management Support Services v. Cirque Du Soleil, Inc., the United States District Court for the Northern District of Illinois denied the defendants’ motion for summary judgment that followed a Rule 67 motion to deposit $15,000 to moot the plaintiff’s claim for relief under the Telephone Consumer Protection Act. The plaintiff seeks, on
Blue Shield and SQM Defeat TCPA Putative Class Action Following Spokeo
U.S. District Judge Cathy A. Bencivengo recently dismissed a plaintiff’s TCPA putative class claim due to lack of standing required under Article III. In Anton Ewing v. SQM US, Inc. et al., No. 3:16-cv-1609-CAB-JLB (S.D. Cal., Sept. 29, 2016), the plaintiff alleged that he received a single survey call made by SQM on Blue
Lyft Avoids FCRA Class Action on Spokeo Grounds
Lyft Inc. avoided a putative background screening class action over alleged privacy violations on Spokeo grounds last week.
In the putative class action, the plaintiff driver alleged that Lyft failed to comply with the Fair Credit Reporting Act when it included “extraneous information” in its FCRA disclosure. In addition, the plaintiff claimed that Lyft failed
$76 Million TCPA Class Action Settlement Preliminarily Approved in Illinois Federal Court
On September 29, the United States District Court for the Northern District of Illinois preliminarily approved a $76 million Telephone Consumer Protection Act class action against several cruise marketing companies in Birchmeier v. Caribbean Cruise Line, Inc.
According to the class action complaint that was filed more than four years ago, a telemarketing company, ESG
Getting Your Legal House in Order: Key Considerations for Selling Your Payment Processing Business
Current mergers and acquisitions (M&A) activity in the payment processing and broader fintech sectors is robust. Private equity sponsors and other financial investors are often attracted to payment processing companies with recurring cash flow streams and relatively low overhead. Strategic buyers in this industry are usually interested in acquiring new customer relationships and complementary product
Supreme Court Agrees to Hear Case That Will Affect New York and Other State Laws Concerning Credit Card Surcharges
On September 29, the United States Supreme Court agreed to hear the appeal of a case that retail merchants filed against the State of New York and City of New York challenging the constitutionality of a state law prohibiting merchants from assessing surcharges against customers who make purchases using a credit card. The challenged law
Court Filings Subject to FDCPA, Says Seventh Circuit
In Marquez v. Weinstein, Pinson & Riley, P.S., et al., the plaintiffs brought a class action against the defendants for alleged violations of the Fair Debt Collection Practices Act arising out of the defendants’ attempt to collect on student loan debts allegedly owed by the plaintiffs. Specifically, the defendant law firm, Weinstein, Pinson &
Preliminary Approval of $10.5M TCPA Class Action Settlement Granted
On September 28, the United States District Court for the Central District of California preliminarily approved a $10.5 million Telephone Consumer Protection Act class action settlement against Dun & Bradstreet Credibility Corporation (“DBCC”). According to the class action complaint that was originally filed in April 2015, DBCC, a seller of credit-building and credibility solutions for
Join Us at ABA’s National Institute on Consumer Financial Services Basics
We are pleased to announce that Troutman Sanders partners Ron Raether and David Anthony will be featured speakers at the American Bar Association’s Seventh Annual National Institute on Consumer Financial Services Basics on October 17-19 at the Waterview Conference Center in Arlington, Virginia.
Ron will participate in a panel discussion entitled “Financial Privacy and Data