On December 8, the United States Supreme Court agreed to decide whether the tolling rule adopted in American Pipe & Construction Co. v. Utah – i.e., that the filing of a class action tolls the limitations period for a purported class member’s individual claims – permits a previously absent class member to bring a
District Court Relies on Spokeo to Dismiss FACTA Suit
On November 6, a judge in the Southern District of New York dismissed a proposed class action alleging that Wolfgang’s Steakhouse impermissibly printed payment card expiration dates on customers’ receipts, relying on the U.S. Supreme Court’s decision in Spokeo to find that customers were not actually harmed by any information revealed.
Relying on the Second
Another Big-Dollar TCPA Settlement as Payment Processor Agrees to $9M Deal
A Texas-based payment processor agreed on November 1 to pay $9 million to settle a putative class action brought under the Telephone Consumer Protection Act in the United States District Court for the Northern District of California. According to the plaintiffs, Pivotal Payments, Inc. failed to ensure that a third party it hired to make
Join Us November 8-9 for the Third Party Payment Processors Association Executive Summit
We are pleased to announce that Troutman Sanders attorneys David Anthony, Keith Barnett, Ashley Taylor and Melanie Witte will be featured speakers at the upcoming Third Party Payment Processors Association (TPPPA) Executive Summit in Scottsdale, Arizona on November 8-9, 2017.
Troutman Sanders attorneys will participate in panels on topics including:
- The Supposed End to Operation
U.S. Treasury Criticizes Arbitration Rule
On October 23, the U.S. Department of the Treasury released a report objecting to the Consumer Financial Protection Bureau’s arbitration rule. As we previously reported, the rule prevents class action waivers in arbitration provisions for covered entities and also requires covered entities to provide information to the Bureau regarding any efforts to compel arbitration.
Judge Preliminarily Authorizes Settlement in Heartland Payment Systems Case
On October 4, Judge Anne Thompson of the United States District Court for the District of New Jersey preliminarily approved a $2.5 million settlement agreement in a proposed class action suit against Heartland Payment Systems.
The agreement would settle a lawsuit, filed by plaintiff Rudel Corporation, which alleges that Heartland charged its customers unauthorized fees
DOJ Permits Banks to Create Real-Time Payment System
On September 21, the Department of Justice cleared the way for a group of the twenty-four largest U.S. banks to create a real-time payment system that will permit immediate transfer of funds between financial institutions. The system was proposed by The Clearing House Payments Co., LLC (“TCH”), a joint venture between the twenty-four banks that
Federal Reserve Publishes Updates on Efforts to Improve Payment Systems
On September 6, the Federal Reserve published “Strategies for Improving the U.S. Payment System: Federal Reserve Next Steps in the Payments Improvement Journey,” a paper outlining the updated tactics the Federal Reserve intends to pursue to help improve the U.S. payment system. The paper follows up on the January 2015 paper entitled “Strategies for Improving
Federal Court Strikes CFPB’s Counts Against Payment Processors for Violating Discovery Order
On August 25, the United States District Court for the Northern District of Georgia struck four counts of a complaint filed by the Consumer Financial Protection Bureau because it failed to abide by the Court’s discovery order.
This matter began on March 26, 2015, when the CFPB filed a complaint against 12 debt collectors, four
New Jersey Legislator Introduces Bill to Prevent Prepaid Account Fees
On June 8, Assemblyman Troy Singleton (D) introduced New Jersey Assembly Bill 4965, which, if enacted, would closely mirror the Consumer Financial Protection Bureau’s Prepaid Rule, but also would prohibit prepaid account issuers in New Jersey from charging a number of fees to prepaid account holders. Singleton co-sponsored a similar bill in 2012 that