On Monday, February 27, 2023, the United States Supreme Court granted the petition for a writ of certiorari in the case Consumer Financial Protection Bureau v. Community Financial Services Association of America, Ltd., No. 22-448, agreeing to hear the appeal filed by the CFPB.
In its petition, the CFPB sought review of the opinion rendered by the United States Court of Appeals for the Fifth Circuit on October 19, 2022, in which the Fifth Circuit struck down Congress’s mechanism for funding the CFPB and, consequently, vacated the Payday Lending Rule promulgated by the CFPB in 2017 ...
In Macris v. Specialized Loan Servicing, LLC, 2022 WL 16727611 (2d Cir. Nov. 7, 2022), the Second Circuit upheld summary judgment for a mortgage servicer, holding that the plaintiff could not pursue claims under the Fair Credit Reporting Act (FCRA) or the Fair Debt Collection Practices Act (FDCPA) for the reporting and collection efforts of his mortgage note.
The plaintiff had previously jointly owned a mortgaged property with his then-wife, but upon their divorce, his ex-wife assumed sole possession of the property and removed the plaintiff from the deed. Years later, the mortgage ...
In Foster v. PNC Bank, National Association, the Seventh Circuit affirmed the dismissal of plaintiff’s Fair Credit Reporting Act (FCRA) claim, but determined that plaintiff lacked standing because he could not show that defendant’s conduct caused his credit score to drop.
Plaintiff filed suit alleging claims for a violation of the FCRA, breach of contract, breach of the implied duty of a good faith and fair dealing, and breach of fiduciary duty. Defendant counterclaimed seeking judgment on the loan and moved for summary judgment. The district court determined that ...
On September 8, 2022, in Hunstein v. Preferred Collection and Management Services, Inc. , No. 19-14434, the Eleventh Circuit Court of Appeals issued an en banc decision which departs significantly from the panel decision on Article III standing issues and statutory causes of action. The case has broad implications for how the Eleventh Circuit applies Article III standing analysis, particularly in consumer finance cases, but also in other cases where a statutory violation has a dubious relationship to any real harm to the plaintiff.
The plaintiff in Hunstein sued a ...
In Tavernaro v. Pioneer Credit Recovery, Inc., No. 2:20-CV-02141-KHV-ADM, 2022WL3153234 (10th Cir. Aug. 8, 2022), the Tenth Circuit recently held that violations of the Fair Debt Collection Practices Act (“FDCPA”) are to be evaluated through the perspective of a reasonable consumer rather than the “least sophisticated consumer” standard adopted by other circuits.