Consumer Finance Litigation Bulletin

Insights and Updates on Consumer Financial Services Litigation

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By: Saul Ewing Arnstein & Lehr

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Latest from Consumer Finance Litigation Bulletin

New York Bill Targeting Robocalls Could Significantly Increase Exposure for Financial Services Companies A New York law aimed at curbing robocalls could significantly increase risk for companies relying on auto-dialers or prerecorded calls to contact customers. The “Robocall Prevention Act” would ban calls and text messages using equipment from numbers stored on a list, or equipment that uses random or sequential number generators, unless the caller shows that “substantial additional human intervention” to…
In Consumer Financial Protection Bureau v. Seila Law LLC, 2019 WL 1985350 (9th Cir. May 6, 2019), the Ninth Circuit followed the earlier decision of the D.C. Circuit in PHH Corp. v. Consumer Financial Protection Bureau, 881 F.3d 75 (D.C. Cir. 2018) (en banc), in holding that the single-director structure of the Consumer Financial Protection Bureau (CFPB) is constitutional. The constitutional challenge was raised by a law firm, Seila Law LLC, that provided debt…
In Consumer Financial Protection Bureau v. Seila Law LLC, 2019 WL 1985350 (9th Cir. May 6, 2019), the Ninth Circuit followed the earlier decision of the D.C. Circuit in PHH Corp. v. Consumer Financial Protection Bureau, 881 F.3d 75 (D.C. Cir. 2018) (en banc), in holding that the single-director structure of the Consumer Financial Protection Bureau (CFPB) is constitutional. The constitutional challenge was raised by a law firm, Seila Law LLC, that provided debt…
Second Circuit Decision has Implications for Native American Sovereign Immunity and Predatory Lending Practices On April 24, 2019, the U.S. Court of Appeals for the Second Circuit issued its decision in the case of Gingras v. Think Finance, Inc., 2019 WL 1780951 (2d Cir. April 24, 2019), a decision with far-reaching implications on Native American sovereign immunity and predatory lending practices.  From July 2011 through July 2013, plaintiff-appellees Jessica Gingras and Angela Given borrowed various…
Second Circuit Decision has Implications for Native American Sovereign Immunity and Predatory Lending Practices On April 24, 2019, the U.S. Court of Appeals for the Second Circuit issued its decision in the case of Gingras v. Think Finance, Inc., 2019 WL 1780951 (2d Cir. April 24, 2019), a decision with far-reaching implications on Native American sovereign immunity and predatory lending practices.  From July 2011 through July 2013, plaintiff-appellees Jessica Gingras and Angela Given borrowed various…
Does Your Arbitration Agreement Cover Arbitration of Class Actions? The U.S. Supreme Court Rules that It Does Not, Unless It Expressly Says So. In Lamps Plus Inc. v. Varela, 587 U. S. ___, 2019 WL 1780275 (Apr. 24, 2019), the U.S. Supreme Court ruled 5-4 that under the Federal Arbitration Act (FAA), an arbitration provision in an employment agreement that is “ambiguous” does not provide a strong enough basis for concluding that the parties…
Does Your Arbitration Agreement Cover Arbitration of Class Actions? The U.S. Supreme Court Rules that It Does Not, Unless It Expressly Says So. In Lamps Plus Inc. v. Varela, 587 U. S. ___, 2019 WL 1780275 (Apr. 24, 2019), the U.S. Supreme Court ruled 5-4 that under the Federal Arbitration Act (FAA), an arbitration provision in an employment agreement that is “ambiguous” does not provide a strong enough basis for concluding that the parties…
New Jersey District Court Denies Furnisher’s Attempt To Dismiss FCRA Claim At The Outset Of Case In Fumelus v. Experian Information Solutions, Inc., 2019 WL 1509140 (D.N.J. Apr. 5, 2019), the plaintiffs alleged that defendant Diamond Resorts (“Diamond”) violated the FCRA by furnishing false information about their account. They alleged that Diamond erred in reporting: (i) the debt was owed to Diamond, instead of Tempus Palms; (ii) the tradeline was “open,” when it had…
New Jersey District Court Denies Furnisher’s Attempt To Dismiss FCRA Claim At The Outset Of Case In Fumelus v. Experian Information Solutions, Inc., 2019 WL 1509140 (D.N.J. Apr. 5, 2019), the plaintiffs alleged that defendant Diamond Resorts (“Diamond”) violated the FCRA by furnishing false information about their account. They alleged that Diamond erred in reporting: (i) the debt was owed to Diamond, instead of Tempus Palms; (ii) the tradeline was “open,” when it had…
Recently, joined by former CFPB Director Richard Cordray, California Assemblywoman Monique Limon (D-Santa Barbara) told a press gathering that she planned to introduce legislation to create a state-level version of the federal Consumer Financial Protection Bureau (CFPB), either by raising the budget of the state’s Department of Business Oversight (DBO) or through the creation of a new state agency. “We are working to really rethink what a state CFPB would do,” Limon said. “We see…