TCPA litigation is running rampant in courts throughout the country. Automatic telephone dialing systems, or “ATDSs” or “autodialers”, are at the heart of virtually every TCPA case involving cell phones. Why? Because if a call to a person’s cell phone was not made with an ATDS as defined by the statute, there is virtually no
The Office of the Comptroller of the Currency (OCC) in its Spring 2014 Semiannual Risk Perspective report has stated that signs of risk in the auto lending industry are beginning to emerge, based on data that the OCC reviewed as of December 31, 2013. The OCC’s Semiannual Risk Perspective is published by the OCC’s National
The Division of Consumer Affairs of the New Jersey Attorney General’s office has reached a $1.8 million settlement with eight New Jersey motor vehicle dealerships, all under common ownership, to resolve multiple claims of deceptive business practices that were discovered during the Division’s investigation. The settlement also provides for restitution for certain identified consumers affected
The Consumer Financial Protection Bureau’s 2013 bulletin cautioning lenders offering auto loans through dealerships that they remain accountable for complying with fair lending laws has sparked questions regarding how the CFPB identifies problematic discriminatory practices. In an effort to address these concerns, CFPB Director Cordray reported during the House Financial Services Committee’s hearing on the
The Consumer Financial Protection Bureau has announced a new proposal that will allow consumers the option to share a narrative of “what happened” in the CFPB’s public-facing Consumer Complaint Database. According to the CFPB, this new feature would “empower consumers to publicly voice their complaints about consumer financial products and services” and “provide important context
In a novel ruling, the Ninth Circuit expressly adopted an opinion from the Federal Communications Commission, finding the potential for vicarious liability under the Telephone Consumer Protection Act. In Thomas v. Taco Bell Corp., No. 12-56458 (unpublished), the Ninth Circuit affirmed a lower court’s holding that Taco Bell was not vicariously liable under the
CFPB Announces Spring 2014 Rulemaking Agenda, Confirms Development of “Larger Participant” Definition for Auto Finance Market
On May 23, 2014, the Consumer Financial Protection Bureau posted its updated semi-annual rule-making agenda, which covers several important categories of upcoming regulatory action.
Defining Larger Participants in Auto Lending Market for Regulation
Through use of its rulemaking
Beginning in June, the Consumer Financial Protection Bureau will provide the public with access to the meetings of the Consumer Advisory Board (CAB)and the CFPB’s three Councils. Anyone may attend or watch the full meetings live online the same way most other agencies allow under the Federal Advisory Committee Act.
As we previously discussed,
Last week, Richard Cordray, the Director of the Consumer Financial Protection Bureau, issued a statement praising BMO Harris Bank and its decision to compensate auto dealers for originating indirect auto loans based on a non-negotiable percentage of the loan amount. Director Cordray stated, “It is encouraging to see BMO Harris taking this proactive step to
On Thursday, May 1, 2014, the White House issued a report outlining initiatives to supposedly better protect privacy in light of the growing realm of big data, the term used to describe a collection of large and complex data sets. The report, titled “Big Data and Privacy: A Technological Perspective,” was presented to the President