On August 4, 2016, the CFPB issued its final mortgage servicing rule pursuant to Regulation X of the Real Estate Settlement Procedures Act (RESPA) and Regulation Z of the Truth in Lending Act (TILA). The final rule provides greater foreclosure protections to borrowers and requires further transparency between borrowers and mortgage servicers. The final rule
On August 19, the United States District Court for the District of Nevada dismissed a putative Fair Credit Reporting Act class action against two taxi companies that had allegedly violated the Fair and Accurate Credit Transactions Act by including the first digit and last four digits of consumers’ credit card numbers
We are pleased to announce that Troutman Sanders partner Cindy Hanson will be a featured speaker at the Class Actions seminar, offered by the Institute of Continuing Legal Education in Georgia, on Friday, September 2.
Cindy will speak on a panel entitled “Offers of Judgment and Mootness after Campell-Ewald,” where she will discuss
On August 19, 2016, the Federal Trade Commission and the New York Attorney General filed a summary judgment motion against Buffalo, New York area debt collectors who allegedly harassed and threatened consumers into paying millions on debts allegedly owed by the consumers.
The FTC and New York State Attorney General filed a joint Complaint in
The Eleventh Circuit recently released an unpublished decision regarding its opinion on the impact of Spokeo on a Fair Debt Collection Practices Act putative class action, finding that the named plaintiff satisfied Article III standing requirement.
In Church v. Accretive Health, Inc., the defendant sent the named plaintiff a letter advising her that she
In Davis v. Hollins Law, the Ninth Circuit recently reversed a lower court’s judgment in favor of the plaintiff on a claim under the Fair Debt Collection Practices Act, finding that the defendant debt collector’s communication was sufficient in context to disclose to the least sophisticated debtor that it was from a debt collector.
As we previously reported, section 301(b) of the Bipartisan Budget Act of 2015 permits an exception to the Telephone Consumer Protection Act of 1991 for calls and text messages “made solely to collect a debt owed to or guaranteed by the United States.” Although the TCPA generally prohibits calls and text messages using automatic
The United States District Court for the Northern District of California entered an order on August 9, approving a $2.4 million settlement between Social Finance Inc. (“SoFi”) and a class of nearly 11,000 consumers for alleged violations of the Fair Credit Reporting Act.
In Heaton v. Social Finance Inc., the named plaintiffs alleged that
On July 28, at a public hearing in Sacramento, California, the Consumer Financial Protection Bureau released an outline of new rules targeting third-party debt-collection operations. The new rules seek to curb “excessive or disruptive” communications by restricting collectors from calling debtors numerous times a day, requiring debt collection companies to have “more and better
The Federal Deposit Insurance Corporation (“FDIC”) is seeking comment on proposed examination guidance for Third-Party Lending. [1] The proposed guidance, issued July 29, provides banks with safety, soundness and consumer compliance measures to be followed when lending through a business relationship with a third party. The proposed guidance will apply to all banks that engage