CFPB Reaches Settlement with Debt Collector over Deceptive Practices
Last week, the CFPB issued a Consent Order against a New Jersey based debt-collection agency (Agency) over allegations that the Agency regularly violated the FDCPA... Read More
Litigation Developments
CFPB Enters into Consent Order with Payment Processor for Deceptive Practices
The CFPB recently entered into a consent order with a payment processing company and its founder and owner (collectively referred herein as “Respondents”) for deceptive... Read More
CFPB Reaches Settlement with Midwest Debt Collector over FCRA Violations
Earlier this month, the CFPB entered into a Consent Order with a non-bank debt collector defendant over findings that the defendant furnished incorrect information to... Read More
MD Court Holds Assignees Included in Lender Inspection Fee Prohibition
The Maryland Court of Special Appeals recently ruled that the state’s commercial code, which prohibits lenders from collecting property inspection fees from borrowers except under... Read More
District Court Stays Implementation of HUD’s 2020 Disparate Impact Rule
A Massachusetts Federal District Court recently stayed the implementation of HUD’s 2020 Disparate Impact Rule (2020 Rule), finding its changes to the 2013 version to... Read More
11th Circuit Holds No Standing for FACTA Claim Under Spokeo
On October 28, 2020, the Eleventh Circuit Court of Appeals held, en banc, that the plaintiff claiming a statutory violation of the Fair and Accurate... Read More
Class Certified in Securities Suit Based on RESPA Investigation
A federal judge in Washington State granted class certification to a group of plaintiff investors in their suit against an online real estate company over... Read More
Bill Payment Service Company Settles UDAAP Violations with CFPB
On November 2, 2020, the CFPB issued a consent order against a bill payment service company for allegedly engaging in deceptive acts or practices in... Read More
CFPB Settles Lawsuit with Debt Collectors and Debt Buyers Group
On October 16, 2020, the U.S. District Court for the Southern District of California entered a Final Judgment and Order Approving a Joint Motion for... Read More
Court Dismisses State Law Usury Claims Against National Bank’s Affiliates Which Securitized Credit Card Accounts After Finding that Federal Law Controls the Interest Rate
The U.S. District Court for the Eastern District of New York dismissed a suit against a national bank’s affiliates for violations of New York state... Read More
National Bank to Pay $400M for Its Failed Risk Management Programs
The OCC and the Federal Reserve Bank (FRB) of New York recently settled with a registered bank holding company and its subsidiary national bank for... Read More
FTC Loses False Advertising Case with Non-Credible Expert Witness
The FTC recently lost a false advertising case it brought in the U.S. District Court for the Western District of Pennsylvania against a company manufacturing... Read More
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