The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance industry. In the years since its enactment, the Dodd-Frank Act has led to significant industry reforms and the promulgation of numerous new laws and regulations. In an effort to stay apprised of these significant industry changes, Burr & Forman's Dodd-Frank Newsletter will serve as a periodic update of recent case law, news, and developments related to the Dodd-Frank Act.

CFPB Involvement in Litigation
Ho v. ReconTrust Co.,

No. 10-56884, 2015 WL 4735787 (9th Cir. Aug. 7, 2015).

The CFPB recently filed an amicus brief in the case Ho v. ReconTrust, Co., which is on appeal before the U.S. Court of Appeals for the Ninth Circuit. The issues on appeal are whether ReconTrust Co., the trustee, is a debt collector as defined by the Fair Debt Collection Practices Act ("FDCPA") and whether foreclosure proceedings constitute debt collection activities under the FDCPA.

Ho filed suit against ReconTrust alleging that letters sent in connection with foreclosure proceedings, specifically, the Notice of Default and the Notice of Trustee's Sale, contained false and misleading information regarding the amount of the debts owed in violation of the FDCPA. ReconTrust moved to dismiss the complaint on the grounds that it was not a debt collector, and the district court granted its motion. Ho filed three amended complaints, all of which were dismissed. Ho appealed.