- Posts by Warren "Cole" Foster
AssociateWarren “Cole” Foster is a member of the firm’s Financial Services Litigation Practice Group. Prior to law school, Cole founded and served as president of Oakwood Funding Group, where he gained years of experience in the ...
Last Thursday, the Supreme Court upheld the Congressional funding mechanism used to fund the Consumer Financial Protection Bureau (CFPB), overruling a Fifth Circuit decision that found the funding mechanism violated the Constitution’s Appropriations Clause. Cons. Fin. Prot. Bureau et al. v. Cmty. Fin. Servs. Ass. of Am., Ltd., 601 U. S. ____ (2024). In an apparent break from recent decisions limiting certain agency’s powers, the Court held that the CFPB’s standing source of funding was constitutional even though such funding is outside the annual appropriations.
The ...
The United States District Court for the Northern District of Georgia has recently ruled that a consumer cannot maintain a claim under the Georgia Fair Business Practices Act (GFBPA) where the claim arises out of a loan transaction that is subject to state and federal regulations. In Baughman v. Truist Bank, No. 123CV03199JPBJKL, 2023 WL 6940698 (N.D. Ga. Sept. 19, 2023), plaintiff purchased a vehicle by executing a retail installment sale contract, which was later assigned to Truist Bank. The contract provided that the dealer would obtain an aftermarket warranty on the vehicle and ...