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Financial Services

Secure and Fair Enforcement (SAFE) Banking Act Passes U.S. House…Again

On Monday, April 19, 2021, the U.S. House of Representatives passed the Secure and Fair Enforcement Banking Act of 2021 (the “Act”).  The legislation was reintroduced in Congress in late March through a bipartisan effort involving members of both the U.S. House of Representatives (House) and the…

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Supreme Court Confirms that to Violate the TCPA your Automatic Telephone System Must Use a Random or Sequential Generator

The TCPA Issue

There has been a significant amount of litigation over the past few years regarding the Telephone Consumer Protection Act (“TCPA”) on the issue of whether banks or credit unions are violating the TCPA when they call their customers using certain automatic telephone…

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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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