Litigation and Court Decisions

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The CFPB and FTC have filed a joint amicus brief in the U.S. Court of Appeals for the Second Circuit urging 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”…

A Maine federal district court ruled that that two 2019 amendments to Maine’s credit reporting law are preempted by the federal Fair Credit Reporting Act and granted the motion for judgment filed by the plaintiff, the Consumer Data Industry Association (CDIA).

One of the amendments prohibited a consumer reporting agency (CRA) from reporting medical debt…

The industry trade groups challenging the CFPB’s final rule on Payday, Vehicle Title, and Certain High-Cost Installment Loans (the Rule) have filed a motion for summary judgment.  The motion follows the filing of an Amended Complaint by the trade groups focused on the Rule’s payments provisions and the filing of an Answer to the…

In Cohen v. Capital One Funding, LLC, the federal district court for the Eastern District of New York  joined the federal district court for the Western District of New York in Petersen v. Chase Card Funding, LLC in holding that the National Bank Act (NBA) preempts claims that the interest charged on credit card…

A New York federal district court in Petersen v. Chase Card Funding, LLC held that the National Bank Act (NBA) preempted the plaintiff’s claims that the interest charged on his credit card account violated New York usury law.

The named plaintiff was the holder of a credit card issued by JPMorgan Chase Bank, N.A. (JPMCB). …

Almost five years after entering into an administrative consent order with Encore Capital Group, Inc., Midland Funding, LLC, Midland Credit Management, Inc., and Asset Acceptance Capital Corp. (collectively, “Defendants”) to resolve claims relating to the Defendants’ debt collection practices, the CFPB, on September 8, 2020, filed a five count complaint (the “Complaint”) in…

Last week the CFPB and New York Attorney General filed a lawsuit against five debt collection companies and four individuals who own and manage the companies. The complaint alleges the defendants used deceptive, harassing, and otherwise improper methods to induce consumers to make payments to them in violation of the Fair Debt Collection Practices Act…

On August 28, 2020, the industry trade groups challenging the CFPB’s final Rule on Payday, Vehicle Title, and Certain High-Cost Installment Loans (the Rule) filed their Amended Complaint in accordance with the briefing schedule recently entered by the court.  The Amended Complaint focuses on the payment provisions of the Rule but the trade groups have…

Three weeks after California, Illinois and New York sued the Office of the Comptroller of the Currency (OCC) to enjoin its final rule purporting to override the Second Circuit’s Madden decision as to national banks and federal savings associations, in a complaint filed on August 20, 2020 in the same California federal district court, California,…