Monitoring the financial services industry to help companies navigate through regulatory compliance, enforcement, and litigation issues
In a class action settlement that was recently granted final approval, Publix Super Markets Inc. agreed to pay nearly $6.8 million in a class action lawsuit settlement over background checks under the Fair Credit Reporting Act.
Plaintiff, Erin Knights, applied for a job with Publix in early 2013 through an electronic kiosk. The lawsuit alleges…
At the invitation of Thompson Reuters Legal Insights and Analytics, attorneys Maryia Jones, Jason Manning, and Paige Fitzgerald delivered a presentation on TILA’s loan originator compensation rule (the “Rule”), which remains one of the CFPB’s enforcement priorities and a focus of plaintiffs’ bar in private lawsuits. The presentation was delivered to an audience of mortgage…
On February 6, Uber filed a motion to compel individual arbitration of a class action lawsuit under the Fair Credit Reporting Act related to its alleged background check practices. If Uber is successful in compelling arbitration, it will provide another example of the value of arbitration agreements in the face of litigation.
In Mohamed v.
In order to assist the Consumer Financial Protection Bureau with its statutory obligation to report annually to Congress concerning the federal government’s efforts to implement the Fair Debt Collection Practices Act, the Federal Trade Commission submitted a summary of its own enforcement activities during 2014.
The FTC’s summary highlights not only the “aggressive law enforcement…
On February 12, Representative Steve Stivers (R-Ohio) reintroduced bi-partisan legislation that would require the Senate to confirm an independent inspector general for the Consumer Financial Protection Bureau, arguing it would provide greater oversight.
The Bureau of Consumer Financial Protection-Inspector General Act of 2015 (H.R. 957) is co-sponsored by Tim Walz (D-Minn.), Blaine Luetkemeyer (R-Mo.), and…
On February 11, a federal court in Texas dismissed a putative Fair Credit Reporting Act class action filed by a former patient of health services provider St. Joseph Services Corp. who alleged that the defendant’s failure to guard against a personal data breach violated the FCRA. After reviewing the state of the law regarding standing…
In a recent decision applying established Telephone Consumer Protection Act law to the developing text application market, the U.S. District Court for the Northern District of California found in Glauser v. GroupMe, Inc. that group texts did not violate the TCPA because they required human intervention. Specifically, the court found that the “welcome texts” –…
On February 11, a group of Florida retainers, including a jewelry store and hobby shop, filed an appeal before the Eleventh Circuit Court of Appeals that, in part, challenges Florida’s law prohibiting merchants from charging “swipe fees” on credit card sales. According to the retailers, the state law is unconstitutional and violates the First Amendment…
On February 12, the Consumer Financial Protection Bureau announced that it had filed a complaint against one mortgage company, All Financial Services, and had entered consent orders against two others, Flagship Financial Group and American Preferred Lending, based on claims that the companies had deceptively implied that they were affiliated with the United States government.…
On February 11, Pennsylvania Attorney General Kathleen Kane announced that payday lender Advance America Cash Advance Centers Inc. will pay $10 million to settle claims that it hid allegedly sky-high interest rates from consumers in violation of state law.
In a lawsuit against Advance America, Kane alleged that the company offered a loan product it…
In addition to cookies that are necessary for website operation, this website uses cookies and other tracking tools for various purposes, including to provide enhanced functionality and measure website performance. To learn more about our information practices, please visit our Privacy Notice.
