California Lawyers Association

Business Law Consumer Financial Services Committee

Updates from the BLS Consumer Financial Services Committee

In Glasser v. Hilton Grand Vacations Company, LLC., No. 18-1449 (2020), the Eleventh Circuit ruled that the TCPA’s definition of an auto-dialer requires random or sequential number generation. This decision aligns with the Third Circuit and certain district courts that are split with the Ninth. In Marks v. Crunch San Diego, LLC, 904 F.3d 1041 (2018), the Ninth Circuit broadly construed the definition to include equipment that dials automatically from a stored list. Glasser adopts a significantly narrower definition. Read more
In Frazier v. First Advantage Background Services Corp., No. 3:17cv30, 2019 WL 4601616 (E. D. Va. Sep. 23, 2019), the Eastern District of Virginia issued an erudite opinion offering guidance on when the Supreme Court’s Spokeo decision might apply to the challenge of a Fair Credit Reporting Act (“FCRA”) claim. Read more
The Consumer Financial Services Committee will be holding a meeting on Thursday, July 18, from 11:30 to 12:30. The dial-in number is (855) 520-7605 and conference code is 9085 062 381#. Read more
Our very own Julie Greenfield will be presenting on "The Revenge of the HELOCs: Another Foreclosure Crisis?" (presentation attached). She recently presented this to the Orange County Bar Association and we are lucky to have the opportunity to hear it too! Read more
On January 21, 2016, the California Supreme Court ruled that the state’s anti-deficiency statute enumerated under California Code of Civil Procedure Section 580b applied to short sales in addition to foreclosures.  Coker v. JPMorgan Chase Bank, N.A., S213137, 2016 WL 240901 (Cal. Jan. 21, 2016).  Section 580b states that no deficiency judgment may be obtained by the lender against the borrower when he/she defaults on a purchase money loan and the lender exhausts its security via sale under the deed of… Read more
On December 4, 2015, The Federal Trade Commission (“FTC”) reached an agreement to end litigation with five of the six defendants stemming from the complaint filed April 15, 2015, against Chad Caldaronello, Derek Nelson, Brian Pacios, Cortney Gonsalves, and Justin Moreira, DBA HOPE Services and HAMP Services.  Litigation against a sixth defendant, Denny Lake, has not settled. The original complaint, which was filed under seal, sought to obtain permanent injunctive relief, rescission of contracts restitution, refund of monies paid, and… Read more
On December 17, 2015, the Consumer Financial Protection Bureau (“CFPB”) filed a complaint in federal court against a Burbank company called T3Leads.  The CFPB alleged that the company violated the Dodd-Frank Wall Street Reform and Consumer Protection Act.   According to the complaint, the Bureau alleged that the company bought and sold personal customer information from payday and installment loans without properly vetting the customers.  T3Leads is “lead aggregator.”  This type of company purchases consumer information (leads) from websites that market… Read more
In a Supervisory Bulletin released on December 16, 2015, the Consumer Financial Protection Bureau (“CFPB”) opined about practices the Bureau had noticed “in the field” during supervisory examinations and enforcement investigations.  The purpose of the Bulletin, according to the Bureau, was to provide specific guidance with regard to debt collection to the following parties: Creditors;Debt Buyers; andThird-Party Collectors The Bulletin specifically focuses the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (sections 1031 and 1036); andFair Debt Collection… Read more
On December 17, 2015, the Consumer Financial Protection Bureau (“CFPB”) ordered auto dealer CarHop (and its affiliated financing company) to pay a $6.4 Million civil penalty for allegedly providing “damaging, inaccurate, consumer information to credit reporting companies.”  Carhop was the subject of a CFPB investigation in which the CFPB alleged both parties violated the Fair Credit Reporting Act and the Consumer Financial Protection Act by specifically: Deceiving customers into believing they would be able to build and maintain good credit… Read more
On December 14, 2015, the U.S. Supreme Court once again upheld the enforceability of class waivers in arbitration agreements. In DIRECTV, Inc. v. Imburgia, the Supreme Court reversed a California Court of Appeal's refusal to enforce an arbitration agreement waiving the right to bring class arbitration claims.  The arbitration agreement at issue included a class arbitration waiver specifying that the entire arbitration agreement was unenforceable if the "law of your state" made class arbitration waivers unenforceable. The agreement also declared that… Read more

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