CFPB Monitor

JUNE 20, 2022

Supreme Court has once again confirmed that the Federal Arbitration Act (FAA) preempts incompatible state laws that preclude contracting parties from controlling which claims are subject to arbitration. In a 2014 decision, Iskanian v. Ruling in favor of the employer in Viking River Cruises, Inc. CLS Transp.

California 78

California Los Angeles Policies System 78

CFPB Monitor

JULY 27, 2021

In May 2018, the Texas federal district court hearing the lawsuit filed by two trade groups challenging the 2017 Rule entered an order staying the lawsuit. Subsequently, in November 2018, the court entered an order staying the August 19, 2019 compliance date for both the 2017 Rule’s ability-to-repay provisions and its payment provisions.

Payments 78

Payments Compliance Groups Texas 78

CFPB Monitor

APRIL 1, 2021

Today, in a unanimous decision, the U.S. Supreme Court limited the reach of the Telephone Consumer Protection Act (“TCPA”) by narrowing what technology qualifies as an Automatic Telephone Dialing System (“ATDS”). Although the Court repeatedly mentioned “capacity,” it likewise highlighted current use. In Facebook v.

Technology 78

Technology System 78

CFPB Monitor

SEPTEMBER 20, 2021

In a decision issued earlier this summer, the U.S. Court of Appeals for the Seventh Circuit vacated the district court’s order awarding restitution, mandating civil penalties, and issuing an injunction in an action brought by the CFPB against two mortgage-assistance relief companies and four lawyers associated with the companies.

Company 78

Company Regulation Industry Groups 78

PYMNTS

APRIL 7, 2020

A Manhattan court denied Goldman Sachs Group’s appeal to dismiss a class-action lawsuit that accuses the investment bank of hiding information when it created subprime securities prior to the Great Recession, according to a report in Reuters. In a 2-1 decision on Tuesday (April 7), the 2nd U.S. House Committee on Financial Services.

Arkansas 200

Arkansas Security Fraud Management 200

CFPB Monitor

JUNE 2, 2022

The California Supreme Court has ruled in Pulliam v. The decision has the potential to significantly increase the amount of money a plaintiff can recover when proceeding against a dealer/seller under the FTC Holder Rule. HNL Automotive Inc.

CA 78

CA California Company Regulation 78

CFPB Monitor

NOVEMBER 1, 2021

On October 28, 2021, in a 2-1 split panel decision, the Eleventh Circuit Court of Appeals vacated its prior opinion in Hunstein v. The new opinion is published , meaning it has immediate legal effect and is binding on future Eleventh Circuit judicial panels and district courts within the circuit. published at 994 F.3d

Analysis 78

Analysis Conference Industry Course 78

CFPB Monitor

OCTOBER 21, 2020

Court of Appeals for the Third Circuit ruled that Section 13(b) of the Federal Trade Commission Act, which expressly gives the FTC authority to obtain injunctive relief, does not allow a district court to order disgorgement. Supreme Court agreed to decide whether Section 13(b) allows a district court to order restitution.

Capital 78

Capital Management 78

PYMNTS

MARCH 26, 2019

The United States Supreme Court has rejected an appeal by online shoe company Zappos over a data breach in 2012 that compromised the information of 24 million customers, according to a report from Reuters. That court said Zappos customers can sue if they show there is a future risk of impending harm. The 9th U.S.

Nevada 124

Nevada United States Data California 124

CFPB Monitor

OCTOBER 25, 2018

Compliance with the Telephone Consumer Protection Act continues to present challenges to the financial services industry as a result of uncertain legal standards and contradictory court decisions. To listen and subscribe to the podcast, click here. .

Compliance 79

Compliance Strategy Industry 79

CFPB Monitor

DECEMBER 6, 2021

The American Bankers Association, American Financial Services Association, California Financial Services Association, and Consumer Bankers Association have filed a joint amicus brief with the California Supreme Court in Pulliam v. On post-trial motions, the court awarded the plaintiff nearly $170,000 in attorney’s fees.

CA 78

CA Groups California Policies 78

CFPB Monitor

APRIL 22, 2021

In a very troubling decision of first impression, a unanimous panel of the U.S. After concluding that the plaintiff had Article III standing, the Eleventh Circuit rejected the district court’s conclusion that the phrase “in connection with the collection of any debt” necessarily involves a demand for payment. In Hunstein v.

Florida 78

Florida Industry California Course 78

CFPB Monitor

JULY 28, 2020

Following the court’s initial stay of the lawsuit, the court entered an order in November 2018 staying the August 19, 2019 compliance date for both the 2017 Rule’s ability-to-repay provisions and its payment provisions. One issue in ensuing litigation will be the effect of last month’s U.S.

Texas 78

Texas Groups Compliance Payments 78

CFPB Monitor

DECEMBER 21, 2021

The Delaware federal district court, in CFPB v. Supreme Court’s decision in Seila Law that held that the CFPB’s Director was unconstitutionally insulated from removal by the President. However, the court dismissed the CFPB’s lawsuit without prejudice, thereby allowing the CFPB an opportunity to refile.

Delaware 78

Delaware National Strategy 78

CFPB Monitor

DECEMBER 12, 2019

In an 8-1 decision, the U.S. Supreme Court has ruled in Rotkiske v. The decision resolves a circuit split, with the Third Circuit having taken the position adopted by the Supreme Court and the Fourth and Ninth Circuits having ruled that the discovery rule applies to the FDCPA’s one-year SOL.

Fraud 78

Fraud United States How To 78

CFPB Monitor

JANUARY 22, 2020

Court of Appeals for the Sixth Circuit affirmed a district court’s decision that a plaintiff who alleged that the defendant had violated the Fair Debt Collection Practices Act (“FDCPA”), failed to allege a concrete injury in fact sufficient to confer Article III standing. Earlier this month, in Buchholz v. CenturyLink, Inc. ,

Conference 78

Conference Report Payments 78

CFPB Monitor

JANUARY 7, 2022

A California appellate court has ruled that bail bond premium financing agreements are consumer credit contracts for which cosigners must be given a statutorily prescribed notice that warns of the potential consequences of acting as a cosigner. In BBBB Bonding Corporation v. Under the Agreement, Ms.

CA 78

CA California Regulation Payments 78

Abrigo

FEBRUARY 24, 2023

Describe transactions, interactions, or activities that led to the SAR filing decision. Strategies for clear, concise SAR writing How can BSA officers make their SARs stand out to law enforcement? These suggestions for structuring and writing SARs can help. Abrigo Advisory Services can help. Where did the activity take place?

Regulation 243

Regulation Fraud Training Trends 243

PYMNTS

AUGUST 9, 2020

District Court for the Southern District of California, where TikTok’s American operations are based, as soon as Tuesday (Aug. The White House declined to comment on the expected litigation, NPR reported. Despite President Donald Trump’s executive order to ban TikTok effective Sept.

Report 164

Report US social media Video 164

CFPB Monitor

MARCH 20, 2019

The order directs the parties to file a joint status report by May 17 “informing the court about proceedings related to the Rule and this litigation as the parties deem appropriate.”. The proposals would leave unchanged the Payday Rule’s payment provisions and their August 19 compliance date.

Compliance 68

Compliance Texas Groups Payments 68

CFPB Monitor

AUGUST 4, 2020

Court of Appeals for the Sixth Circuit held that the Telephone Consumer Protection Act’s (TCPA) statutory definition of an automatic telephone dialing system (“ATDS”) includes telephone equipment that can automatically dial phone numbers stored in a list, rather than just phone numbers that the equipment randomly or sequentially generates.

West Virginia 78

West Virginia Kentucky Alabama System 78

PYMNTS

MAY 23, 2017

As Reuters reported Monday, the United States Supreme Court has issued a ruling that makes it tough for patent trolls to file what the newswire termed “dodgy patent cases” in courts deemed friendly, lessening a legal thorn in the side to tech firms, including Apple. That was an unanimous ruling, coming in at 8-0, overturning a U.S.

Delaware 100

Delaware United States Texas Apple 100

CFPB Monitor

AUGUST 6, 2018

Based on the docket, the case appears to have been in active, heated litigation from the time it was filed until just recently. The widest-reaching issue in the case is whether the CFPB can continue to litigate against an entity in a circuit where its structure has been deemed unconstitutional.

Course 68

Course Marketing 68

CFPB Monitor

JUNE 25, 2020

In an opinion authored by Chief Justice Roberts (the “ DACA Opinion” ) , the Supreme Court has concluded that the rescission of the DACA program by the U.S. Our conclusion: Justice Roberts has once again shown a reluctance to cast the deciding vote with the Conservative wing of the Court against a core Obama-era policy.

Policies 78

Policies Lending United States Conference 78

PYMNTS

JUNE 5, 2017

Supreme Court review of its antitrust case against American Express, The Wall Street Journal reported. In the wake of the DOJ’s decision, American Express said in a statement: “We believe the DOJ’s decision not to proceed sends a strong signal that this seven-year litigation should come to an end.”.

Rhode Island 100

Rhode Island Montana Vermont Idaho 100

CFPB Monitor

NOVEMBER 30, 2020

Information will be displayed in a variety of formats, including through an interactive map of the United States through our Ballard 360 Client Connect platform, as well as through various search functions that will allow information to be sorted by topic, jurisdiction, date, and for the FCRA tracker, by federal court and counsel for plaintiffs.

National 127

National Analysis United States Trends 127

CFPB Monitor

SEPTEMBER 21, 2022

Chamber Institute for Legal Reform of 101,244 consumer disputes that terminated between January 1, 2014 and June 30, 2020 concluded that: Consumers are more likely to win in arbitration than in court. During the same period, consumers initiated and prevailed in 30% of all consumer litigation cases that were terminated with judgments.

Report 78

Report Study Regulation FDIC 78

CFPB Monitor

FEBRUARY 22, 2022

the district court rejected the Trusts’ arguments that they were not “covered persons” under the CFPA and that because the enforcement action was filed by an unconstitutionally structured CFPB, it was void when filed and could not stop the statute of limitations from running. Supreme Court’s decision in Collins v.

Delaware 78

Delaware National 78

CFPB Monitor

MARCH 21, 2022

The case involves RD Legal’s purchase at a discount, for immediate cash payments, benefits to which consumers were ultimately entitled under the NFL Concussion Litigation Settlement Agreement (NFLSA) and the September 11th Victim Compensation Fund of 2001 (VCF).

Exercises 78

Exercises New York Leadership Conference 78

CFPB Monitor

MAY 16, 2022

Because courts often look to Restatements of the Law to guide their decision making, all companies that contract with consumers will need to familiarize themselves with the new Restatement as it may require immediate changes to consumer contracts.

DC 78

DC Washington Report Analysis 78

CFPB Monitor

MARCH 11, 2019

The CFPB and the two industry trade groups that filed a lawsuit in a Texas federal district court challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) filed a new status report with the court on March 8 to follow up on their March 1 status report.

Compliance 68

Compliance Groups Report Payments 68

CFPB Monitor

MAY 10, 2022

Bank of America One, N.A. In the brief, the agencies urge the court to reverse a district court ruling that an individual who had already received credit from the defendant and who was not currently applying to the defendant for credit was not an “applicant” for purposes of the ECOA’s adverse action notice requirement. 1691a(b).

Regulation 78

Regulation America Capital Lending 78

CFPB Monitor

JANUARY 10, 2019

Supreme Court heard oral argument in the case of Timbs v. In November 2018, the U.S. Indiana , which presents the issue of whether the prohibition on excessive fines in the Eighth Amendment of the U.S. Constitution is incorporated against the States under the Fourteenth Amendment.

Indiana 60

Indiana Regulation Company 60

PYMNTS

JUNE 7, 2019

Jeff Landry, the Louisiana attorney general, said that even though the government has the most authority, “meaningful litigation to check companies over the last 30 years seems to be starting out more and more from the state AGs. He added that he thinks the issues will end up in court at some point.

Nebraska 122

Nebraska US Omaha Mississippi 122

CFPB Monitor

JUNE 27, 2019

In a decision issued on Wednesday, the U.S. Supreme Court, in Kisor v. Wilkie , declined to overrule a line of cases instructing courts to defer to an agency’s interpretation of its own regulation, a doctrine sometimes referred to as “ Auer deference.” The name derives from Auer v. Robbins , a 1997 U.S. emphasis added).

Regulation 60

Regulation Analysis Examples 60

CFPB Monitor

JULY 29, 2020

The New York Department of Financial Services (DFS) has filed its opening brief with the Second Circuit in the OCC’s appeal from the district court’s final judgment in DFS’s lawsuit challenging the OCC’s issuance of special purpose national bank (SPNB) charters to non-depository fintech companies. . DFS has standing and its claims are ripe.

Fintech 88

Fintech New York Regulation National 88

PYMNTS

JULY 26, 2016

When I read the announcement that the Second Circuit had reversed the decision approving settlement of the long-running class action challenging interchange, the short prelude to John Lennon’s “(Just Like) Starting Over” played in my head. The song has nothing to do with payments or interchange.

San Francisco 100

San Francisco Cards Industry System 100