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- The Coming Wave Of Credit Card “Billing Error” Disputes: Six Things To Know
The Coming Wave Of Credit Card “Billing Error” Disputes: Six Things To Know
March 26, 2020, Covington Alert
When consumers use their credit cards to purchase goods or services that they never receive, the Fair Credit Billing Act gives consumers the right to dispute the charge directly with their credit card issuer. As merchants cancel orders and reservations in the wake of the Covid-19 crisis, creditors should prepare themselves for a dramatic increase in consumers raising disputes in connection with charges for goods and services that they did not receive. Financial institutions could face significant liability, including class action exposure, if they fail to follow the Fair Credit Billing Act’s obligation to conduct a reasonable investigation into these billing disputes.
May 1, 2020, Covington Alert
There were several notable developments in the first quarter of 2020 affecting class actions. Courts issued important decisions addressing whether defendants could raise Article III standing or personal jurisdiction defenses to defeat the claims of putative class members. A federal court in California called one company’s efforts to avoid its arbitration ...
April 8, 2020, Covington Alert
As the world moves online during the COVID-19 pandemic, companies’ privacy and security practices are coming under increased scrutiny. Because class actions often follow such scrutiny, as demonstrated by lawsuits recently filed against Google and Zoom, companies should keep the following six developments on their radar as they rush to meet the demands of our new ...
November 20, 2019, Covington Alert
On November 18 and 19, 2019, the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) provided long-awaited regulatory affirmation that a bank loan’s rate of interest retains its non-usurious character when acquired by a third-party. The agencies each issued proposed rules that seek, as the OCC put it, to “codify what ...