Consumer finance agreements contain various provisions allowing for certain types of fees, including convenience fees for immediate payment options, fees associated with default-related activities and services, and other administrative fees. Despite these fees being expressly set forth in contracts or required by relevant regulations, such as FHA-servicing requirements, consumer-attorneys have brought class action litigation alleging these types of fees are improper. Courts have also been inconsistent in their treatment of such fees, leaving a mish-mash of federal and state authority for consumer finance companies to wade through when determining future actions. Join WBK attorneys for an overview of the theories raised by plaintiffs’ attorneys, common defenses, and trends in court opinions dealing with consumer fee litigation.
Presenters: Jason McElroy, Tim Ofak, Jasmine Jean-Louis
Date recorded: January 27, 2022
This recording is for general information purposes only and is not in any way intended, nor shall it be construed, as legal advice, legal opinion or any other advice on any specific facts or circumstances. No person or entity (“Person”) should act or refrain from acting upon this information without seeking professional advice. No Person may rely on this information or its applicability to any specific circumstances. The information in this recording is in no instance to be taken as an indication of completeness, applicability to a particular situation, or an indication of future developments or results.
