California Consumer Finance Litigation
"Reporting on recent developments and providing analysis of important finance topics related to banking, credit cards, mortgages, and consumer finance statutes and regulations."
Author: Daniel J. O'Rielly practices at O'Rielly and Roche in San Francisco.
Blawg Related Categories: Banking Law • Consumer Law • Real Estate & Property Law • 9th Circuit Court • States • California • Solo / Small Firm
Recent Posts from California Consumer Finance Litigation
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California Supreme Court Draws Setoff Boundary
The California Supreme Court has refused to extend an earlier holding prohibiting a bank from setting off customer debts using funds in a deposit account from public benefits. In Miller v. Bank of America, NT and…
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Preemption by Federal Agencies to be Limited
Last month, the White House released a Memorandum for the Heads of Executive Departments and Agencies regarding federal preemption, with specific instructions about how and when federal agencies may assert preemption of state laws through…
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Tracking the Proposed Financial Regulatory Changes
Last week, President Obama announced sweeping proposed changes in federal financial regulation. U.S. Treasury Secretary Timothy Geithner and Director of the National Economic Council Lawrence Summers wrote an op-ed piece describing the new regulatory structure,…
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9th Circuit Revives Claim on TILA Rate Disclosures
The Ninth Circuit last week reversed and remanded the dismissal of a credit card rate increase disclosure case in Barrer v. Chase Bank USA, NA. In Barrer, plaintiffs had a Chase credit card. In February…
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"Credit CARD Act" is Now Law
President Obama signed the "Credit Card Accountability, Responsibility, and Disclosure (CARD) Act" last week. The White House issued a fact sheet about the new law, previously known as the "Credit Cardholders' Bill of Rights." The…
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Mortgage Cramdown Fails in Senate
The hotly-contested mortgage cramdown legislation, passed in the House last month as HR 1106, the "Helping Families Save Their Homes in Bankruptcy Act of 2009," has failed in the Senate. Among other significant changes, the…
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"Credit Cardholders' Bill of Rights" is Back for 2009
The "Credit Cardholders' Bill of Rights" has been reintroduced for 2009 in the House as H.R. 627 (a similar bill has been introduced in the Senate as S.B. 235). The bill would make significant amendments…
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"Arbitration Fairness Act" Rises Again
The Arbitration Fairness Act of 2007 has been re-introduced as the Arbitration Fairness Act of 2009 (H.R. 1020). The 2009 version, the same text as the 2007 version, has been referred to the Subcommittee on Commercial and Administrative…
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9th Circuit: Rate Increase After Default Requires Notice
In McCoy v. Chase Manhattan Bank, USA, N.A., the Ninth Circuit held that a credit card issuer's retroactive rate increase after a default requires contemporaneous notice to the consumer under the Truth in Lending Act, 15 U.S.C.…
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Treasury Unveils Plan for Toxic Mortgage Assets
The Treasury today unveiled specific details regarding its plan to create a public-private partnership to purchase toxic assets from financial institutions, named the Public Private Investment Program (PPIP) for Legacy Assets. Along with its press…