Consumer Crossroads: Where Financial Services and Litigation Intersect

Read our latest blog post about Massachusetts’ new “junk fees” and deceptive pricing regulations to learn what your business must do to avoid violations and ensure compliance.

Explore how recent New York appellate decisions guide lenders in avoiding FAPA estoppel in foreclosure and quiet title actions, as covered in our latest blog post.

Read our blog post outlining the legal framework and practical steps for successfully obtaining a rent receiver, with a focus on expediting the process and maximizing collateral value.

Read our blog post to discover the latest developments on the New York Court of Appeals' consideration of the retroactive application of the Foreclosure Abuse Prevention Act (FAPA) and its potential impact on thousands of cases.

Read our Privacy, Cyber, & AI Decoded alert to learn more about each 2025 NYDFS cybersecurity requirement and the steps to take in response to ensure your organization meets these new regulations.

Explore the evolving legal landscape of data breach claims, examining on how courts define actual injury and standing requirements in light of recent rulings.

In January 2025, the New York City Department of Consumer and Worker Protection (DCWP) issued a Notice of Change of Effective Date (Notice), further delaying the effective date for the final rules relating to debt collectors (Rules) to October 1, 2025.

As we say goodbye to 2024, we are pleased to announce our 2024 Hinshaw Readers’ Choice Awards in the consumer finance category. The following are the Top 5 Consumer Crossroads blog posts receiving the highest levels of engagement from our readers in 2024, featuring topics ranging from the overturn of the Chevron doctrine and statute of limitation developments to Article III litigation strategies.

On December 17, 2024, the Federal Trade Commission (FTC) issued its final trade regulation rule, "Rule on Unfair or Deceptive Fees," commonly referred to as the "Junk Fees Rule." We review the significance of the Final Rule as it applies to the auto industry.

According to the DCWP, the proposed amendments clarify that the definition of "debt collector" under the proposed rules will continue to include those collecting debts they originated. The amendments also update the effective date of the previously adopted rules.

In New York civil actions, where a defendant fails to answer the complaint, the next step is usually a motion for a default judgment pursuant to CPLR 3215. However, in residential mortgage foreclosure actions, the plaintiff is generally required to file a Request for Judicial Intervention ("RJI") to seek the scheduling of a settlement conference pursuant to CPLR 3408.

Loan servicers and their counsel are often sued by consumers during contested mortgage foreclosure proceedings. The United States Supreme Court’s opinions in Spokeo, Inc. v. Robins[1] and TransUnion v. Ramirez[2] continue to be an important precedent in defending consumer claims.

Servicers with non-performing loans in Connecticut may find that municipal code violations exist on a property in foreclosure. Commonly referred to as "blight," Connecticut has enacted C.G.S. § 7-148ff, which makes a blight lien a priority lien on real estate.

Last week, the North American Collection Agency Regulatory Association (NACARA) hosted its annual conference at the California Department of Financial Protection and Innovation’s Sacramento office. The event served as a platform for state regulators and collection agency representatives to discuss the latest challenges and emerging trends affecting the industry.

On August 23, the Consumer Financial Protection Bureau (CFPB) issued its Filing Instructions Guide ("Guide") for Nonbank Registration pursuant to its Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule ("the Final Rule").

Texas property taxes and the general residential homestead exemptions have been all over the news this past year due to the passing of Proposition 4 in November 2023. This law increased the annual Texas homestead tax exemption from $40,000 to $100,000, starting with January 2023 taxes.

On June 3, 2024, the Consumer Financial Protection Bureau (CFPB) issued the Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule (“the Final Rule”).

In today's age of complex data privacy and AI regulations, staying informed and in compliance is more crucial than ever.

The Buy Now Pay Later ("BNPL")[1] legislation introduced by New York Governor Kathy Hochul officially died last week. However, BNPL legislation introduced last month by New York Assemblymember Pamela Hunter remains active and, similar to the Governor's bill, proposes that New York be the first state to require BNPL lenders to obtain a state license.

Last week, the Texas Supreme Court answered the Fifth Circuit’s certified question as to whether simultaneous rescission and reacceleration can reset the limitations period under Texas Law by holding that “a rescission that complies with the statute [Tex. Civil Practice and Remedies Code Section 16.038] resets limitations even if it is combined with a notice of reacceleration.” Moore v. Wells Fargo Bank, N.A., No. 23-0525, 2024 Tex. LEXIS 156, at *2 (Feb. 23, 2024).