In a September 2024 opinion, the United States District Court, Southern District of New York (SDNY) addressed the conditions for transfer of consent under the FCC’s Telephone Consumer Protection Act (TCPA) Do Not Call (DNC) rules. The case, Watson et al. v. Manhattan Luxury Automobiles, Inc., which involved marketing texts sent to former customers of a now defunct car dealership by a then-related dealer seeking to service those customers, sheds light on the question of whether and when consent to receive communications can be transferred from one entity to another, particularly in cases where businesses have closed or transferred operations.
Mid-sized financial institutions (FIs) — including community banks, regional banks, and credit unions — face growing challenges in automating their lending processes. This is particularly true for small to mid-sized businesses (SMBs). While 70% of FIs have automated consumer lending, only 33% have done so for SMBs. This gap in automation is leading to higher delinquency rates and operational inefficiencies.
The Federal Trade Commission (FTC) has introduced a new “click-to-cancel” rule designed to simplify the process of canceling subscriptions and recurring payments. Under this rule, businesses must provide consumers with a cancellation process as straightforward as the one used for signing up. The rule, which aims to protect consumers from deceptive practices, will take effect 180 days after its publication in the Federal Register.
Can the Foreclosure Abuse Prevention Act (FAPA) be applied retroactively? Unfortunately, mortgage noteholders lack a clear response. Prior to FAPA, the New York Court of Appeals inFreedom Mortgage Corporation v. Engel, held that if a foreclosure action is voluntarily discontinued it resets the six-year statute of limitations, allowing for a subsequent foreclosure action on the same mortgage.
The Federal Trade Commission today announced a final “click-to-cancel” rule that will require sellers to make it as easy for consumers to cancel their enrollment as it was to sign up. Most of the final rule’s provisions will go into effect 180 days after it is published in the Federal Register.
.jpg)
.jpg)