On 25 June 2021, the U.S. Supreme Court issued its decision in TransUnion LLC v. Ramirez, clarifying the nature of the harm sufficient to establish Article III standing to maintain a Fair Credit Reporting Act (FCRA) claim. After Ramirez, plaintiffs seeking to pursue FCRA class litigation must establish concrete harm that is more than just speculative, and they must do so for all class members with the requisite type of evidence called for at each particular stage of litigation. The impact of the holding in Ramirez will likely extend to class standing issues beyond the FCRA context.Read More
On 21 April 2021, the 11th Circuit held that a debt collector’s transmittal of a customer’s debt-related data to a third-party letter preparation vendor without authorization stated a Fair Debt Collection Practices Act (FDCPA) claim under 15 U.S.C. § 1692c(b). The 11th Circuit’s decision may have implications for the debt-collection businesses that outsource customer-related tasks to vendors.Read More
20 May 2021
1:00 – 2:15 p.m. ET
Please join K&L Gates for our 2021 Consumer Financial Services Symposium – Virtual Edition. This symposium will consist of a series of webinars over the course of several weeks. Below is a description of our second webinar that will focus on litigation and enforcement in a post-pandemic world and we invite you to register. Separate blog posts and invitations for the other webinars in this series will be forthcoming.Read More
On 5 April 2021, the Consumer Financial Protection Bureau (CFPB) solicited comments on proposed amendments to Regulation X, which amendments are intended to assist mortgage borrowers impacted by the COVID-19 pandemic. Though the proposal to extend the current foreclosure moratorium to January 2022 is gaining the headlines, it is important to note that the proposed amendments, if adopted, once again require modification to servicers’ existing loss mitigation programs in order to “maximize the likelihood that borrowers exiting forbearances have sufficient time to complete a loss mitigation application.”Read More
21 April 2021
1:00 – 2:00 p.m. ET
Virtual – Login information will be sent after you complete your registration.
1 hour of CLE/CPD credit available in: Pennsylvania, California, Texas, Illinois, New York, Australia, and the UK
REGISTER HERE by 20 April 2021.
Please join K&L Gates for our 2021 Consumer Financial Services Symposium – Virtual Edition. This symposium will consist of a series of webinars over the course of several weeks. Below is a description of our first webinar that will focus on FinTech, and we invite you to register. Separate blog posts and invitations for the other webinars in this series will be forthcoming.
Our first webinar will address recent developments in FinTech compliance and litigation, covering issues ranging from machine learning in credit underwriting and attendant fairness questions to the use of non-fungible tokens (NFTs) with respect to consumer protection law. We will also address developments that the financial services industry is likely to see under the Biden administration, including the use of technology in extending credit and making other credit-related decisions. Attendees will have an opportunity to submit questions during this webinar.
On 30 December 2020, the United States District Court for the District of Columbia entered an order invalidating two provisions of the “Prepaid Account Rule” (the Rule) promulgated by the Consumer Financial Protection Bureau (CFPB). Specifically, the order invalidated the Rule’s mandatory short form disclosure requirement and the requirement for a thirty-day delay before linking prepaid products to credit, on the basis that the CFPB had exceeded its statutory authority.Read More