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Senate Begins Debate on Financial Reform Bill
The Senate, after spending last week engaged in procedural battles, will enter full scale debate this week on that chamber’s version of a financial reform package . This morning Congress Daily provided a brief preview…
SCOTUS Holds Mistake of Law No Defense to FDCPA Liability
Yesterday, the Supreme Court issued a decision in J erman v. Carlisle, McNellie, Rini, Kramer & Ulrich LPA (“ Jerman ”) (Docket 08-1200) that resolves a circuit split regarding the scope of the Fair Debt Collection…
Recently Commenced California Class Action May Impact Exposure Faced By Financial Institutions Involved With Federal Student Loans
If your company is one of the many companies that participates in originating, guaranteeing or servicing student loans made under the Federal Family Education Loan Program (“FFELP”) you should be aware of a recent…
DOJ Reaches Landmark Settlement of Claims Regarding Racial Discrimination in Mortgage Lending
Last month, two subsidiaries of American International Group (“AIG”) agreed to pay $7.1 million to settle claims by the United States Department of Justice (“DOJ”) that the companies unlawfully charged African American…
Update: California Supreme Court Agrees to Review Issue of Whether Collecting Customer Zip Codes and Reverse Data Mining for Additional Customer Information Violates California's Song-Beverly Credit Card Act
If you or your company collect zip codes in California as part of a loyalty program or otherwise, and reverse data mine for additional customer information, you should be aware that the California Supreme Court…