On May 29, 2020, the OCC issued a final rule on permissible interest on loans that are sold, assigned, or otherwise transferred.
Consumer Finance Litigation Bulletin
The Consumer Finance Litigation Bulletin, published by Saul Ewing Arnstein & Lehr, focuses on legal developments and litigation trends in consumer finance. It covers regulatory actions and enforcement by agencies such as the Consumer Financial Protection Bureau (CFPB), including topics like digital marketing rules, unfair, deceptive, or abusive acts or practices (UDAAP), and discrimination in financial services. The bulletin also addresses significant court decisions affecting consumer finance laws, such as interpretations of the Telephone Consumer Protection Act (TCPA) and biometric privacy regulations. It provides updates on advisory opinions and regulatory guidance impacting financial product providers and marketers.
Latest from Consumer Finance Litigation Bulletin - Page 2
The CARES ACT: Forbearance to Deferment, RESPA Compliance, and Credit Reporting
By 7996
Saul Ewing Arnstein & Lehr’s Consumer Finance attorneys Trip Riley, Ryan DiClemente and Colleen Fox delivered a presentation about the CARES Act to the Women in Housing and Finance Professional Organization. The presentation covered the CARES Act’s mortgage payment forbearance…
Seventh Circuit Recognizes Validity of “Informational Injuries” to Provide Article III Standing for Illinois Biometric Information Privacy Act Claims
By 7996
On May 5, the Seventh Circuit decided in Bryant v. Compass Group USA, Inc. , 2020 WL 2121463 (7th Cir. May 5, 2020), that a plaintiff who alleges a procedural violation of the Illinois Biometric Information Privacy Act (“BIPA”) without…
New York Executive Order and Regulation Requires Banks To Honor Forbearance Requests And Other Regulated Entities To Potentially Restrict Late And Overdraft Fees
By 7767
New York Executive Order and Regulation Requires Banks To Honor Forbearance Requests And Other Regulated Entities To Potentially Restrict Late And Overdraft Fees
On March 7, 2020, Governor Cuomo issued Executive Order No. 202.9 (the “Order”) which sought to modify
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Court Nixes Hired Investigator’s Telephone Consumer Protection Act Claim for Lack of Standing
By 7767
Court Nixes Hired Investigator’s Telephone Consumer Protection Act Claim for Lack of Standing
While the TCPA often feels limitless in its scope, one New Jersey District Court recently dismissed a putative class action brought by an investigator hired by an
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How Recent TCPA “Autodialer” Decisions Impact Your Business
By eplawecki
If your company’s marketing strategy involves communicating with prospective or existing clients via phone calls and text messages, you are probably familiar with the Telephone Consumer Protection Act (“TCPA”).
In part, the TCPA makes it unlawful to make a “call”…
A New York Class Action Relying on the Second Circuit’s Madden Decision Is In Jeopardy After Magistrate Judge’s Recommendation
By 7767
A New York Class Action Relying on the Second Circuit’s Madden Decision Is In Jeopardy After Magistrate Judge’s Recommendation
In 2019, two putative class actions were filed in New York by plaintiffs seeking to build off the Second Circuit’s decision
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Key Takeaways for Furnishers from the CFPB’s Recent Supervisory Highlights on Credit Reporting
By eplawecki
Key Takeaways for Furnishers from the CFPB’s Recent Supervisory Highlights on Credit Reporting
In December 2019, the Consumer Financial Protection Bureau (CFPB) issued its Supervisory Highlights covering its findings from examinations in the areas of credit reporting and the furnishing
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New Jersey Appellate Division Rejects Consumer’s Attempt to Declare Arbitration Provision Invalid Under New Jersey Plain Language Act
By eplawecki
New Jersey Appellate Division Rejects Consumer’s Attempt to Declare Arbitration Provision Invalid Under New Jersey Plain Language Act
In a recent unpublished opinion, Maisano v. LVNV Funding, LLC, No. A-1775-18T2, 2019 WL 6341035 (App. Div. Nov. 27, 2019), the
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IF THE SHIELD AGAINST AT-WILL TERMINATION OF THE CFPB’S DIRECTOR IS UNCONSTITUTIONAL, WHAT NEXT?
By eplawecki
IF THE SHIELD AGAINST AT-WILL TERMINATION OF THE CFPB’S DIRECTOR IS UNCONSTITUTIONAL, WHAT NEXT?
The U.S. Supreme Court has already agreed to consider in the matter of Seila Law v. CFPB whether the for-cause requirement for the President’s dismissal of
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