Posts tagged consumer finance.

In a decision that could throw the debt-collection industry into turmoil, on April 21, 2021, the Eleventh Circuit Court of Appeals released its opinion in the case Hunstein v. Preferred Collection & Mgmt. Servs., Inc., No. 19-14434, 2021 WL 1556069 (11th Cir. Apr. 21, 2021).  The crux of the opinion is the court’s holding that a debt collector faces potential liability under the FDCPA for transmitting a consumer’s personal information to any third-party not explicitly designated by the statute.  The potential implications of this decision are far-reaching.

The underlying facts ...

When President-elect Joe Biden takes office in January, it is safe to bet that addressing the pandemic-related financial pressures facing millions of Americans will be at the top of his agenda.  And in particular, the administration is expected to focus on consumer finance, which should give renewed energy and purpose to the Consumer Financial Protection Bureau, an agency the Trump administration all but grinded to a halt.

Pursuant to a recent Supreme Court ruling that gives the President the right to remove the head of the CFPB at will, President-elect Biden will be able to select a new ...

On Tuesday, the Eleventh Circuit Court of Appeals expanded the scope of conduct that is actionable under the Fair Debt Collection Practices Act ("FDCPA") to include communications directed to a debtor's attorney. However, the Court also said that such communications may not be actionable under a "least sophisticated consumer" standard and that a plaintiff may have to hurdle a higher bar to establish a violation. In Miljkovic v. Shafritz and Dinkin, P.A., et al., No. 8:14-cv-00635-VMC-TBM, 2015 WL 3956570 (11th Cir. 2015), the plaintiff debtor brought suit against debt ...

In Gorel v. Bank of New York Mellon, 5D13-3272 (Fla. 5th DCA May 8, 2015) Florida's Fifth District Court of Appeal offered relief to increasingly popular arguments using minor defects in paragraph 22 notices of default as a defense to foreclosure. It has become popular among the foreclosure defense bar to point to minor variances between the language used in notices of default and the express language of paragraph 22, and assert that because the notices do not strictly conform word for word with paragraph 22, that foreclosure should be denied. These arguments have had some measure of ...

In Bank of America, N.A., v. Delgado, et al., 3D13-910 (Fla. 3d DCA May 6, 2015) the Third District Court of Appeal offered some relief to banks and loan servicers still reeling from the effects of Hunter v. Aurora Loan Servs., LLC, 137 So. 3d 570 (Fla. 1st DCA 2014.) review denied, 157 So. 3d 1040 (Fla. 2014). In Hunter, the First District Court of Appeal cast doubt on whether the employees of a successor servicer can authenticate the business records of a prior servicer under the business records exception to the hearsay rule. The opinion has made waves at the trial court level as servicers ...
Posted in: Florida

In Colson v. State Farm Bank, F.S.B., Case No. 2D13-5526, Florida's Second District Court of Appeals just reversed a final judgment of foreclosure entered in favor of the plaintiff, finding that a "total lack of evidence as to damages" required reversal and remand for further proceedings. In February 2009, State Farm as the plaintiff initiated a mortgage foreclosure action against the Colsons. Through its sole witness, an employee of its servicer, State Farm introduced the following into evidence at the November 2013 trial: a power of attorney between State Farm and the servicer, a ...

Posted in: Florida
The Consumer Financial Protection Bureau ("CFPB" or "Bureau") released a study last week regarding the financial industry's use of pre-dispute arbitration agreements. This is the CFPB's third study on the issue since 2013, and, like the first two studies, reveals the Bureau's negative assessment of pre-dispute arbitration agreements. The Bureau initiated its investigation into the issue pursuant to Congress's authorization in the Dodd-Frank Act to analyze the impact of arbitration clauses in consumer contracts for financial products and services. Specifically, the ...
Posted in: Arbitration, CFPB
Burr
Jump to Page
Arrow icon Top

Contact Us

We use cookies to improve your website experience, provide additional security, and remember you when you return to the website. This website does not respond to "Do Not Track" signals. By clicking "Accept," you agree to our use of cookies. To learn more about how we use cookies, please see our Privacy Policy.

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. These cookies may only be disabled by changing your browser settings, but this may affect how the website functions.


Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.