The West Virginia Supreme Court ruled against a debt collector in LTD Financial Services, L.P. v. Collins, affirming the lower court’s order granting the plaintiff’s motion for a directed verdict. Specifically, the Court ruled that the plaintiff was not required to prove intent as part of his affirmative claim and LTD Financial Services did

On April 5, the Minnesota Department of Commerce issued guidance to the motor vehicle sales finance industry intended to clarify the types of entities that meet the definition of “sales finance company” under Minnesota law. The guidance solidified the Commerce Department’s stance that companies that purchase motor vehicle retail installment contracts must obtain a motor

Parties to a class action lawsuit in the U.S. District Court for the Eastern District of Pennsylvania have asked for final approval of a $4 million proposed Telephone Consumer Protection Act settlement in a “wrong number” case.  Plaintiff Robert Ward alleged that defendant Flagship Credit Acceptance, LLC called him in violation of the TCPA, as

A new Florida class action alleges that a car dealership misrepresented that it would make a “soft” credit inquiry, or pull, rather than a “hard” pull – and then made a hard pull.  While the lawsuit alleges a straight-up misrepresentation causing harm to the consumer’s credit standing, the lawsuit illustrates the importance of accuracy in

The New Jersey Attorney General’s Office filed suit against two automobile dealerships and their owner in the Superior Court of New Jersey, alleging that the dealerships should be closed and their owner barred from the industry because they targeted financially vulnerable consumers with a variety of unconscionable and deceptive business practices.

According to the AG’s

Requiring an employee or consumer to submit any dispute to binding arbitration as a condition of employment or purchase of a product or service is commonly referred to as “forced arbitration.”  Many times, the employee or consumer is required to waive their right to sue or to participate in a class action lawsuit.  Critics argue

The Supreme Court agreed to hear a consumer’s appeal from the Third Circuit’s ruling that his claims under the Fair Debt Collection Practices Act were time-barred despite being brought within one year of discovering the violation.  The circuits have been split on whether the one-year statute of limitations under the FDCPA begins to run when

2018 was a busy year in the consumer financial services world. As we navigate the continuing heavy volume of regulatory change and forthcoming developments from the Trump administration, Troutman Sanders is uniquely positioned to help its clients successfully resolve problems and stay ahead of the compliance curve.  

In this report, we share developments on

A Connecticut-based automobile finance company settled a claim by the Massachusetts Attorney General’s Office that the finance company facilitated the sale of defective vehicles by a group of Massachusetts car dealerships.  As part of the settlement, Sensible Auto Lending LLC has agreed to provide debt relief in the amount of $733,925. 

According to the Massachusetts

A wave of lawsuits filed under the Fair Debt Collection Practices Act, especially in the Second Circuit, continues regarding disclosures of interest and fees in collection letters.  Consumers have complained about failure to warn of interest and fees continuing to accrue, as well as failure to disclose that interest and fees did not accrue.  The