Consumer Finance Litigation

For the past several years, both federal and state courts around the country have been bombarded with lawsuits filed by consumers against banks, credit card companies, mortgage servicers, debt buyers and collectors, payday lenders and numerous other business entities providing consumer finance products and services. Much of this litigation finds its origin in the worldwide economic decline that began in December 2007 and the subsequent governmental response to the decline. That governmental response has included increased enforcement of existing consumer finance laws, as well as statutory and regulatory changes, the most significant being the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act") passed on July 21, 2010. The aforementioned changes have lead to a great deal of uncertainty in the consumer finance industry. This uncertainty can have an overwhelmingly negative impact on businesses preparing for the future. For these reasons, the attorneys of Burr & Forman's Financial Services Litigation practice group have launched this blog to assist businesses engaged in the consumer finance industry monitor the ever-changing litigation landscape. The "Burr CFL Blog" will focus primarily on recently released federal court opinions addressing the fields of mortgage servicing, credit cards, auto finance, retail consumer loans, debt collection, and other consumer finance industries, with a spotlight on federal consumer protection statutes, including the Truth-in-Lending Act, Real Estate Settlement Procedures Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, and Telephone Consumer Protection Act, among others. The Burr CFL Blog will also closely monitor recently released cases dealing with all provisions of the Dodd-Frank Act that may affect the consumer finance industry. If an important case dealing with state-specific law is released, we will primarily highlight developments in Burr & Forman's Southeastern footprint of Alabama, Florida, Georgia, Mississippi, and Tennessee. However, the Burr CFL Blog will also cover any particularly impactful or interesting events in other parts of the country as well. We hope that our clients, as well as other businesses and attorneys involved in the consumer finance industry, will find this blog informative and entertaining and will make it a regular part of their business reading. If you ever have a question about something on the blog or have a consumer finance issue, feel free to contact any of Burr & Forman's Financial Services Litigation team and we will be happy to assist you. Additionally, if you need help in a state outside of Alabama, Florida, Georgia, Mississippi, or Tennessee, let us know. We have many attorneys licensed to practices outside of the Southeast and we've also aligned our firm with trusted practices across the country. Thanks for reading!