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Fair Credit Reporting: 18.4.2.1 Protections Related to Computers and the Internet

The federal Computer Fraud and Abuse Act criminalizes various forms of unauthorized use of federal government and financial institution computers.248 Although the Act prohibits the unauthorized, intentional access of a computer to obtain the records of a financial institution, a card issuer, or a CRA, the Act’s limited private right of action provision provides relief for a violation only in unusual circumstances.249 As a practical matter, such a plaintiff will likely have to show that the acces

Fair Credit Reporting: 18.4.2.2 The Financial Information Privacy Act

The Financial Information Privacy Act imposes criminal penalties on those who obtain customer information from a financial institution by pretext or through the use of an illegitimate document.259 The statute covers both communications with a financial institution’s agents and employees and with a customer of the institution, and further prohibits the solicitation of someone to obtain such information—attempting to reach those who hire the information brokers.260 The statute exempts information

Fair Credit Reporting: 18.4.2.4 The Driver’s Privacy Protection Act

The Driver’s Privacy Protection Act (the “DPPA”)269 restricts state departments of motor vehicles from freely trading the information they gather for motor vehicle licensing purposes. This data often includes name, address, Social Security number, certain medical information, height, weight, date of birth, gender, and photograph.

Consumer Bankruptcy Law and Practice: C.5.1 Introduction

Section 603(a) of the 2005 bankruptcy amendments, Pub. L. No. 109-8, 119 Stat. 118 (2005), required the United States Department of Justice to establish procedures to audit petitions, schedules, and other information in consumer bankruptcy cases filed on or after October 20, 2006. Pursuant to 28 U.S.C. § 586(f), the Executive Office of the United States Trustees (EOUST) contracted with private accounting firms to audit cases selected by the EOUST.

Consumer Bankruptcy Law and Practice: C.5.3 Information on Debtor Audits

Pursuant to section 603 of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, individuals who file for relief under chapter 7 or chapter 13 of the Bankruptcy Code are subject to audit. At least one out of every 1,000 individual chapter 7 and chapter 13 cases will be randomly selected for audit. In addition, a case may be selected for an exception audit (audit of a case with income or expenditures above a statistical norm).

Consumer Banking and Payments Law: 6.6.4.2a Bonds and Permissible Investments

In every state that has a money transmitter law, transmitters are required to post a surety bond or deliver a comparable form of security to the state.387 The amount of money that must be posted differs by state and varies depending on the number of locations, the financial strength of the licensee, and other factors. The median minimum bond obligation is $75,000 and the median maximum bond requirement is $500,000.388

Truth in Lending: 11.2.4.2.5 Failure to timely credit a payment

TILA requires servicers and creditors to timely credit payments on home loans, credit cards, and other forms of open-end credit.145 There are a number of possible analogues for the injuries resulting from this violation. The violation could easily result in monetary harm, such as late fees, interest, and other charges. The injury is also analogous to the harm resulting from the common law torts of conversion and trespass to chattels.

Truth in Lending: 11.2.4.2.6 Violations related to the right to cancel a mortgage

Under TILA, certain mortgage borrowers are entitled to cancel their mortgage transaction within three days after receiving the material disclosures required by TILA and Regulation Z.153 If the disclosures—including notice of the right to cancel—are not timely provided, the right to cancel continues until they are provided, for up to three years.

Truth in Lending: 11.2.4.2.9 Confusion

Confusion is a likely downstream consequence of inaccurate disclosures. But the majority of courts have held that confusion is insufficient for standing.

Truth in Lending: 11.2.4.2.10 Emotional distress

Although the most common injuries from TILA violations will be monetary and informational, consumers may suffer emotional distress as well. There are strong reasons to treat emotional distress as a concrete harm that meets Article III’s requirements. The obvious common law analogue is the tort of intentional infliction of emotional distress.185 And the Restatement (Second) of Torts provides more generally: “Compensatory damages that may be awarded without proof of pecuniary loss include compensation . . .

Fair Debt Collection: Cal. Fin. Code §§ 100000 through 100025 (West) (Debt Collector Licensing)

Coverage: License required for in-state collector seeking to collect from in- or out-of-state consumers, or for out-of-state collector seeking to collect from California consumers. (Statute allows for use of the Nationwide Multiple Licensing System and Registry). § 100000.1. Exceptions for depository institutions, certain consumer lenders, including pawnbrokers, mortgage lenders, real estate professionals, rent-to-own companies, and trustees carrying out non-judicial foreclosures. § 100000.1. Bonding required. § 100019.

Truth in Lending: 3.9.6.4.2 The CFPB TILA-RESPA Integrated Disclosure forms

In 2010, Congress directed the Consumer Financial Protection Bureau to create “a single, integrated disclosure” form combining the existing HUD-1 settlement statement and TILA disclosure form.1006 The CFPB finalized the forms and the accompanying regulations on December 31, 2013.1007 The new regime commenced on October 3, 2015 for loan applications received on or after that date.

Consumer Bankruptcy Law and Practice: Notice Required by 11 U.S.C. § 342(b) for Individuals Filing for Bankruptcy

Section 342(b) requires the clerk of the bankruptcy court to give each consumer debtor a notice prior to the filing of the petition describing the chapters of the Bankruptcy Code under which the debtor may proceed, the services of credit counseling agencies, and the possible consequences of bankruptcy fraud. However, because section 521(a)(1)(B)(iii) requires the debtor’s attorney to file a certification that the attorney delivered the notice to the debtor, a represented debtor will receive the notice from their attorney rather than from the court.

Consumer Bankruptcy Law and Practice: Amendments to Forms

Despite using best efforts to obtain complete and accurate information in preparing the forms, it is not uncommon for errors or omissions to be discovered after the documents are filed. If an amendment is needed, Bankruptcy Rule 1009 provides that the debtor may amend the filed documents as a matter of course at any time before the case is closed.

Consumer Bankruptcy Law and Practice: About the Form

Official Form 101 (formerly Form 1) is the petition used by an individual (or two married individuals filing jointly) to commence a voluntary case under chapter 7, 11, 12, or 13 of the Bankruptcy Code. The filing of the petition constitutes an “order for relief.” 11 U.S.C. §§ 301, 302. It also invokes the automatic stay, which takes effect immediately upon the filing of the petition, subject to certain exceptions. 11 U.S.C. § 362.