• 06.27.16

    SCOTUS Declines Hearing Madden: Are Industry Repercussions Limited?

    In a disappointing move, the Supreme Court today denied the petition by Midland Funding to hear the case Madden v. Midland Funding.

  • 06.23.16

    CFPB Releases Proposed Regulation of Payday Loans

    In a long anticipated move, the Consumer Financial Protection Bureau (CFPB) proposed a rule to regulate so-called "debt traps" by requiring lenders to take additional steps to ensure consumers have the ability to repay certain types of small loans and placing limits on reborrowing or ...

  • 06.10.16

    New York's DFS Reaches $3M Deal Involving Payday Lending Debts

    Continuing its efforts against payday lenders, New York's Department of Financial Services (DFS) announced a consent decree with National Credit Adjustors (NCA) and Webcollex totaling $3 million.

  • 05.26.16

    New Guidance From FFIEC on Mobile Financial Services

    Examiners will be paying more attention to mobile financial services (MFS) using new guidance recently issued by the Federal Financial Institutions Examination Council (FFIEC).

  • 05.17.16

    BREAKING: SCOTUS Rules on Spokeo, Significant Implications for TCPA Cases

    The Supreme Court of the United States ruled yesterday in Spokeo, Inc. v. Robins that a plaintiff must show an injury in fact before pursuing a claim for violation of the federal Fair Credit Reporting Act (FCRA), a holding that could have major repercussions for consumer plaintiffs pursuing claims ...

  • 05.16.16

    Supreme Court Requires Actual Harm to Pursue FCRA Claims

    In a carefully drawn 6-2 decision authored by Justice Samuel Alito, the Supreme Court of the United States has today ruled in Spokeo, Inc. v. Robins that a plaintiff must show an injury in fact before pursuing a claim for violation of the federal Fair Credit Reporting Act (FCRA), a holding that ...

  • 05.12.16

    Manatt Expands National Financial Services Litigation Practice

    Preeminent consumer financial services lawyer Richard E. Gottlieb has joined the Los Angeles office of Manatt as a litigation and government enforcement partner in the multidisciplinary Financial Services practice.

  • 05.12.16

    Treasury Issues White Paper on Marketplace Lending

    On May 10, 2016, the U.S. Department of the Treasury released its highly anticipated white paper on online marketplace lending.

  • 05.09.16

    No More Mandatory Arbitration for Consumer Financial Products?

    To no one's surprise, the Consumer Financial Protection Bureau (CFPB) proposed rules on May 5, 2016 that will effectively, if promulgated as expected, eliminate most pre-dispute arbitrations arising out of the sale of consumer financial products.