Regulatory Enforcement + Compliance

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In Simon v. FIA Card Services, N.A., the United States District Court for the District of New Jersey addressed whether the defendants engaged in false, misleading, or deceptive conduct in connection with their service of a subpoena for a Rule 2004 examination in the context of a bankruptcy proceeding.  In granting the defendants’ …

On June 10, the New York City Council became the latest governmental body to “ban the box” by prohibiting private employers within the city from inquiring into a job applicant’s criminal history, and instead requiring that criminal background inquiries be deferred until the time of a job offer.  In so doing, New York City joins …

Piggy-backing on the recent criticisms lodged by the Independent Community Bankers of America, the Credit Union National Association (“CUNA”) and American Banks Association (“ABA”) recently joined the chorus of objections against the CFPB’s burdensome requests to data processors for information regarding bank and credit union overdraft policies. In November 2014, the CFPB ordered Fiserv, FIS…

On June 5, 2015, the Consumer Finance Protection Bureau (the “CFPB”) argued that a lawsuit against four payment processors for their involvement in a debt collection scheme should not be dismissed.  According to the CFPB’s complaint (found here), filed on March 26, 2015, this scheme involved Marcus Brown and Mohan Bagga and their …

According to a Supreme Court amicus brief filed last month by the Consumer Financial Protection Bureau, consumers who are required to guarantee their spouses’ credit applications are themselves credit applicants who are protected from discrimination under the Equal Credit Opportunity Act and Regulation B.

The CFPB claims that courts should defer to Regulation B’s “reasonable”…

Authored by D. Kyle Deak

Today the Consumer Financial Protection Bureau released the results of a study on reverse mortgage advertisements.  The study was based upon personal interviews conducted in November and December 2014 with 59 homeowners aged 62 or older in Chicago, Los Angeles, and Washington, D.C. concerning 97 print, radio, online, and television…

On June 1, the Connecticut legislature passed a bill that would require businesses exposed to a data breach to notify victims within 90 days of the breach.  The bill would also require businesses to provide victims with one year of identity-theft protection if their Social Security number is compromised.  Senate Bill 949, An Act…

On June 1, 2015, the Independent Community Bankers of America (“ICBA”) heavily criticized the CFPB’s decision to lodge information requests to data processing firms regarding checking account overdraft fees, particularly because of their alleged high costs and unwarranted breadth. The requests are targeted at information on community bank and credit union overdraft plans and seek…

In Moore v. Rite Aid Headquarters, the District Court for the Eastern District of Pennsylvania ruled that the plaintiff had stated a plausible employment adverse action claim under the Fair Credit Reporting Act.  In doing so, the Court’s decision raises questions about a widely accepted safe harbor of mailing pre-adverse and adverse action notices…

A putative nationwide class action was recently filed under the Fair Credit Reporting Act against Dollar Tree Stores Inc.  The lawsuit was filed in federal district court in Florida.

The complaint alleges that Dollar Tree failed to properly disclose in a separate document that it was going to obtain employees’ consumer reports for hiring purposes…