Quick analysis: Everything Down in June, Yet Up YTD
Not sure we’ve seen this one before! in June, every consumer complaint statute we track was down (TCPA -7.4%, FDCPA -32.1%, FCRA -9.2%), yet every one of them was still up year to date (TCPA +8.6%, FDCPA +15.4%, FCRA +21.1%).
The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in May 2024.
As a result of a Federal Trade Commission lawsuit, the owners and operators of a sprawling credit repair operation known as Financial Education Services (FES) will end the practices that the FTC alleged created a pyramid scheme and also violated the Credit Repair Organizations Act. In addition, the proposed court orders include substantial monetary penalties.
Thousands of data fields, thousands of financial firms, nine regulatory agencies … the push toward a common thread of communications across financial services would be, will be and already is a monumental undertaking.
Without question the most expensive part of any TCPA class action is class discovery.
Where a TCPA defendant has a unique and individual defense applicable to the named class representative, therefore, it almost always makes sense to seek to limit discovery in the case to issues of the named-plaintiff’s claim to avoid the expense of class discovery.
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