Authors:
James Stevens, Partner, Troutman Sanders
Jake Lutz, Partner, Troutman Sanders
Mark Dabertin, Counsel, Pepper Hamilton
Greg Rubis, Counsel, Pepper Hamilton
Rick Eckman, Senior Counsel, Pepper Hamilton
The OCC’s new rule titled “Permissible Interest on Loans That Are Sold, Assigned, or Otherwise Transferred” (the Permissible Interest Rule) states that a national
In Alcivar v. Enhanced Recovery Company, the United States District Court for the Eastern District of New York awarded nearly $37,000 in attorneys’ fees and costs to a debt collection agency over a Fair Debt Collection Practices Act claim that the plaintiff’s attorneys brought in bad faith.
Plaintiff Imelda Alcivar owed approximately $1,100 on
The Democrats on the House Financial Services Committee are pushing their proposed package of bills aimed at responding to the coronavirus (“COVID-19”) pandemic. This time around, they are supporting the bill that would place a moratorium on debt collection activities for the duration of the pandemic.
A May 5 release from the Democrats on the
The United States Court of Appeals for the Fifth Circuit recently held that certain letters seeking collection of time-barred debt by using “ambiguous offers and threats with no indication that the debt is old, much less that the limitations period has run, misrepresent the legal enforceability of the underlying debt in violation of” the Fair
On March 30, several financial service providers filed a petition with the Federal Communications Commission asking for clarification on the Telephone Consumer Protection Act’s emergency purposes exception in the context of the coronavirus (“COVID-19”). The comment period on that petition closed this week, with a further reply date of May 21, 2020. This follows the
The status of the Louisiana Public Service Commission’s (“Commission”) potential enforcement of the available emergency measures pursuant to the Do Not Call General Order (Docket No. R_29617, decided Oct. 11, 2006) (“DNC Order”) has been unclear. While these emergency measures generally have been imposed during prior emergencies, they presently remain unimplemented despite Governor John Bel
On April 22, the Supreme Court of Appeals of West Virginia issued another amended emergency order extending court deadlines. The order can be found here. The Court’s new order delays all court deadlines for matters scheduled to occur during the emergency period from March 23, 2020 to May 15, 2020 until May 18, 2020.
In an order issued on April 20, the Indiana Supreme Court has exercised its rulemaking authority to prevent creditors from being able to attach or garnish stimulus payments issued under the federal Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). See In re Petition to the Indiana Supreme Court to Engage in Emergency Rulemaking
Senators Sherrod Brown (D-Ohio) and Elizabeth Warren (D-Mass.) last week released a proposal for new consumer protection measures that they claim are critical to helping Americans weather the coronavirus (“COVID-19”) pandemic. Noting that the stimulus payments provided by the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) may not be enough to cover basic
Last week, in Russo v. POM Recoveries, Inc., the United States District Court for the Eastern District of New York denied summary judgment and allowed a suit to proceed against a debt collector for an alleged violation of Section 1692c of the Fair Debt Collection Practices Act. Plaintiff John Paul Russo alleged that POM violated