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Financial Services

Indiana Financial Institutions Continue to be Targeted in Class Action Overdraft and NSF Lawsuits

Over the past two years, no fewer than seventeen Indiana banks and credit unions have been targeted with class action lawsuits based on their overdraft fee practices (“Overdraft Cases”), their non-sufficient funds (“NSF”) fee practices (“NSF Cases”), or in many instances, both. While many of these…

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CFPB Issues Finalized Changes To Regulation F To Implement The Fair Debt Collection Practices Act

On October 30, 2020, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule (“Final Rule”) that amends Regulation F, 12 C.F.R. part 1006, which implements the Fair Debt Collection Practices Act, 15 U.S.C. 1692, et seq. (“FDCPA”). 

The Final Rule addresses communications…

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CFPB Provides Flexibility to Financial Institutions When Dealing with Billing Errors, Payment Rules and Deposit Accounts Terms Related to the COVID-19 Pandemic

On May 13, 2020 the Consumer Financial Protection Bureau (the “Bureau”) released a Statement on Supervisory Practices Regarding Regulation Z (the “Statement”) and two FAQs regarding the Bureau’s Payment and Deposits Rule (the “Payments and Deposits FAQs”)  and Open-End (not Home-Secured) Rule (the…

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The CARES Act: Flexibility for Lenders

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) will provide emergency assistance to healthcare providers, individuals, families, and businesses affected by the novel Coronavirus (“COVID-19”). Included in the CARES Act are provisions directly affecting lenders across the United…

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