Jeffrey Naimon Quoted in Law360 Article, "5 Cases Banks Will Be Watching In Next High Court Term"Jeffrey P. Naimon
Jeffrey Naimon was quoted in Evan Weinberger's Law360 article, "5 Cases Banks Will Be Watching in Next High Court Term," on Friday, September 18, 2015.
The Supreme Court is poised to answer a long-standing question over whether the Fair Credit Reporting Act gives plaintiffs the right to sue a company even if the violation cited in the lawsuit is a technical one that did not result in any real, material harm in the Spokeo case.
Although centering on the FCRA, the Spokeo case could have an effect on the mortgage and other markets by giving borrowers the ability to bring suits alleging improper disclosures on key documents. Currently, borrowers would have to argue that they relied on those disclosures to their detriment — a difficult argument to make.
However, the case is likely to affect only private litigation because the Consumer Financial Protection Bureau has been actively bringing enforcement actions related to faulty disclosures and would not be directly affected by a decision supporting Spokeo’s position.
“The bureau’s very broad use of its [unfair, deceptive or abusive acts and practices] authority has overwhelmed the civil damages aspects of these statutes,” Buckley Sandler LLP partner Jeffrey Naimon said.
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