The Seventh Circuit recently upheld the dismissal of a novel putative class action filed by financial institutions against grocer Schnuck Markets (“Schnucks”) based on the economic loss doctrine. Schnucks suffered a data breach that exposed nearly 2.5 million credit and debit cards over four months until the intrusion was discovered. Instead of being filed by the usual data breach class action featuring a putative class of customers, this case was filed by financial ... Keep Reading »
Consumer Finance & Banking Class Action Articles
The latest class action developments and trends in the consumer finance and banking industry, including news, key cases, and strategies.
Out of Proportion: Court Denies Discovery Requests in Putative TCPA Class Action Due to Burden On Defendant
This putative Telephone Consumer Protection Act (TCPA) class action arose from alleged marketing calls by Quicken Loans (Quicken) to potential mortgage customers. After the magistrate judge granted the plaintiff’s motion to compel production of “all documents of any type or kind or records of communications received by Defendant or any third party from a proposed class member requesting that Defendant not contact that consumer or customer,” Quicken objected to the ... Keep Reading »
MDL Litigation: Class and Complex Cases to Watch in 2018
The Judicial Panel for Multidistrict Litigation (“MDL Panel” or “Panel”) has transferred 97 putative class actions relating to the Equifax data breach to the Northern District of Georgia, where Equifax is headquartered. Judge Thomas Thrash, who previously handled the consolidated class actions relating to the Home Depot data breach, will preside over the actions. Eighty-five of the plaintiffs and Equifax supported this result, while the remaining plaintiffs proposed ... Keep Reading »
Fall Data Breach Roundup and 2018 Preview: Supreme Court, OPM, Equifax and More!
As 2017 draws to a close, data breach class actions abound, while questions regarding what suffices for Article III standing in these cases remain—with litigants hoping the Supreme Court will soon weigh in. Earlier this year, as previously reported, the D.C. Circuit decided Attias v. CareFirst, No. 16-7108 (Aug. 1, 2017), a putative class action filed after the health insurance company suffered a data breach that affected more than one million records. After the D.C. ... Keep Reading »
Sixth Circuit Litigants Beware: Exiting the American Pipe Highway Can Forfeit Your Toll
Classified contributors have blogged numerous times (including several times this year) on opinions that tested the boundaries of American Pipe tolling, including those that addressed whether the doctrine applies to claims barred by an applicable statute of repose, successive putative class actions, and cross-jurisdictional litigation. Sometimes, however, litigants forget the well-established rules of American Pipe tolling in their circuit. In a pair of related ... Keep Reading »
401K Not OK: ERISA Class Certified Under Rule 23(b)(1)(B)
A New York district court granted certification in an ERISA class action brought by employees of Deutsche Bank alleging the individual fiduciaries of the company’s retirement plan engaged in self-dealing and mismanagement of its 401K plan. The court certified the class under Rule 23(b)(1)(B), which authorizes class actions when prosecuting separate actions would create a risk of decisions that would be dispositive of the interest of other members not parties to the ... Keep Reading »
No Treat for CFPB: Trump, Congress Override Rule on Class Action Waivers
On November 1, President Trump signed legislation disapproving a CFPB rule designed to prohibit class action waivers in certain consumer financial services contracts. In so doing, Trump rejected a last minute personal appeal from Obama-appointed CFPB head Richard Cordray to save the rule. The legislation had been awaiting the President’s signature since October 24, when Vice President Mike Pence cast the tie-breaking vote on a Senate-approved resolution under the ... Keep Reading »
Eleventh Circuit Doesn’t Waffle on Enforceability of Arbitration Agreement
The Eleventh Circuit Court of Appeal found that an arbitration agreement entered into by a putative class representative and his eventual employer was enforceable even though the agreement was signed after the plaintiff filed his class action suit. The court found that the arbitration agreement included a valid delegation provision that evidenced the parties' intent to arbitrate all gateway issues of arbitrability. Accordingly, the court vacated the district court's ... Keep Reading »
Lease-Termination Fee Class Fails Third Circuit Ascertainability Requirement
Using the Third Circuit’s comparatively robust ascertainability standard, the United States District Court for the Eastern District of Pennsylvania recently denied certification of a class of tenants allegedly charged an improper lease-termination fee and subjected to collections calls in violation of the Fair Debt Collection Practices Act, 15 U.S.C. § 1692, et seq. In its order, the district court explained that under the Third Circuit’s ascertainability precedent, ... Keep Reading »
Nothing Crafty About Michaels’ Disclosure Under Spokeo
A New Jersey District Court followed Spokeo’s Article III standing analysis and dismissed claims by three putative class representatives against Michaels Stores. Plaintiffs claimed that Michaels’ online employment application violated the Fair Credit Reporting Act (FCRA) and similar New Jersey and California state laws by failing to provide notice of the store’s intent to obtain a background check in a dedicated, stand-alone document. Plaintiffs conceded their ... Keep Reading »
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