Texas Federal Court Vacates CFPB’s Credit Card Late Fee Rule
On April 15, the U.S. District Court for the Northern District of Texas granted a joint motion for entry of consent judgment filed by the... Read More
Litigation Developments
NJ Attorney General Initiates Fair Lending Action for Race, National Origin & Nationality Discrimination
The New Jersey Attorney General and the State’s Division of Civil Rights announced the filing of a Finding of Probable Cause against a lender and... Read More
CFPB Moves to Vacate Redlining Settlement with Townstone
In a recently filed motion, the CFPB sought to vacate a judgment approving its settlement with Townstone Financial, Inc. over redlining allegations that stemmed from... Read More
Federal Court Limits but Does Not Dismiss CFPB’s MLA Suit Against FinTech Company
A federal judge for the U.S. District Court for the Southern District of New York recently ruled on a motion to dismiss the CFPB’s suit... Read More
CFPB Continues to Seek More than $43 Million Against Former Owner of Debt-Relief Company
In an enforcement action against a debt-relief company filed in the U.S. District Court for the Northern District of Illinois, the CFPB recently filed a... Read More
FTC Obtains Injunction Against Funding Procurement Company Barring Contact with Small Business Clients Over Fraud Allegations
Recently, the U.S. District Court for the Central District of California granted the FTC’s motion for a preliminary injunction against a national Company and its... Read More
CFPB Under New Administration Drops Numerous Pending Lawsuits
The CFPB has recently dropped a number of pending enforcement lawsuits, which may provide insight into the types of cases the CFPB will pursue or... Read More
FDIC Withdraws Amicus Brief in Appeal Over Interest Rate Cap on State-Bank Lenders Located Outside Colorado
On February 24, the FDIC filed a notice that, after the change in presidential administration, it is withdrawing its amicus brief that had urged the... Read More
FTC and Colorado AG File Suit Against Property Manager for Allegedly Deceptive Mandatory Fees
The FTC and the Colorado Attorney General filed a complaint against a large multifamily property management company over allegedly deceptive mandatory fees which were charged... Read More
Borrowers Seek Rehearing Before 4th Circuit over Class Decertification for Appraisal Independence Claims
A group of borrowers whose appraisal independence class action was decertified by the Fourth Circuit due to a lack of standing have requested rehearing. The... Read More
4th Circuit Reverses Class Certification over Individualized Standing Issues
The Fourth Circuit recently reversed the district court’s class certification of West Virginia borrowers regarding allegations that a national lender exercised undue influence over appraisers,... Read More
NY District Court Rules That EFTA Applies to Consumer Wire Transfers
The U.S. District Court for the Southern District of New York ruled—in an apparent question of first impression—that the Electronic Fund Transfer Act (EFTA) applies... Read More
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