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District Court (D.C.) Says CFPB’s Pre-Paid Card Rule Exceeded Authority

by Scott J. Hyman |

In Paypal, Inc. v. Consumer Fin. Prot. Bureau, No. 19-3700 (RJL), 2020 U.S. Dist. LEXIS 244761 (D.D.C. Dec. 30, 2020), Judge Leon held that the CFPB’s Pre-Paid Card Rule exceeded the CFPB’s authority because Congress neither authorized it to require mandatory short forms nor permitted it to create a substantive restriction on a consumer's access to and use of credit under… Read More

District Court (Ill.) Says Credit Card Issuer Properly Treated Plaintiff’s Purchase of Cryptocurrency as a “Cash-Advance” Rather than a “Purchase of Goods”

by Scott J. Hyman |

In Eckhardt v. State Farm Bank FSB, No. 1:18-cv-01180, 2019 U.S. Dist. LEXIS 40196 (C.D. Ill. Mar. 12, 2019), Judge McDade found that State Farm Bank properly treated a Plaintiff’s purchase of cryptocurrency on his State Farm credit card as a cash-advance subject to cash advance fees rather than as a purchase of goods. The facts were as follows: Plaintiff… Read More

Court of Appeal (Cal.) Holds that Credit Card Issuer Not Liable to Consumer for Allowing Ex-Spouse to Continue Charging on the Account

by Scott J. Hyman |

In Grossman v. Capital One Bank, 2013 WL 821167 (Cal.App. 4 Dist. 2013), the California Court of Appeal in an unpublished decision found that a credit card debtor did not have a claim against the credit card company for allowing the ex-wife to continue to charge sums on the Account after the divorce decree.  The facts were not atypical of… Read More