Andrew J. Narod

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Andrew Narod represents financial services institutions in civil litigation and compliance matters across the country as part of his litigation and financial services practice. His litigation experience includes a diverse range of issues facing financial institutions and mortgage servicers, including lender liability lawsuits and representation of clients in consumer litigation. Andrew routinely defends his clients in a wide array of claims arising under state and federal regulations, including the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA), and the Telephone Consumer Protection Act (TCPA), as well as claims regarding unfair and deceptive trade practices and fraud. Andrew has also defended mortgage originators in residential mortgage backed securities repurchase litigation. He has additional experience in advising automobile lenders in an array of regulatory and compliance matters and defending related class-action lawsuits arising under state and federal regulations. He also assists financial services clients facing investigations and enforcement actions by the CFPB and other regulators. View articles by Andrew.

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New Amendments to the WVCCPA to Provide Additional Certainty for Businesses

By Jared C. Searls and Andrew J. Narod on Posted in Automobile Finance, Class Actions, Credit Card, Debt Collection, State Law Developments
In a development that provides some measure of relief to businesses operating in West Virginia, particularly within the financial services industry, Gov. Jim Justice signed into law on March 29, 2021, amendments to the West Virginia Consumer Credit and Protection Act (WVCCPA). These amendments appear to provide clarity on certain attorneys’ fees provisions in the … Continue Reading

The Tide Has Turned in TCPA Litigation: The Supreme Court Unanimously Adopts Narrow Definition of “Autodialer” in Landmark Decision

By Alex McFall, Benjamin William Perry, Andrew J. Narod and Grant A. Premo on Posted in Autodialer, Class Actions, Compliance, Consumer Protection Act, Debt Collection, TCPA
In a landmark decision released this morning, the U.S. Supreme Court finally answered the question that has been at the heart of Telephone Consumer Protection Act (TCPA) litigation for decades – what constitutes an autodialer? – and the decision is a huge win for TCPA defendants. In Facebook v. Duguid, the Supreme Court unanimously held … Continue Reading

Illinois Caps Consumer Loans at 36% Rate, Limiting Consumers’ Access to Credit

By Michael M. Aphibal, Andrew J. Narod, Jennifer L. Galloway and Preston H. Neel on Posted in Automobile Finance, Compliance, Credit Card, FinTech, Illinois, Installment Lending, Payday Lending, Secured Debts, Short-Term Loans, Small-Dollar Lending, State Law Developments, Title Loans, Unsecured Lending
Last week, Illinois enacted the “Predatory Loan Prevention Act” (SB 1792), which would place a 36% rate cap on nearly all non-bank consumer loans. This act will essentially outlaw small-dollar loans in Illinois and may make ancillary products on auto loans, such as GAP insurance, unavailable for a large number of consumers. The act authorizes … Continue Reading

Federal Reserve Acts to Bolster Auto Finance, Credit Card, Student Lending Industries

By Andrew J. Narod, C. Meade Hartfield, Lee Gilley and J. Riley Key on Posted in Automobile Finance, COVID-19 (Coronavirus), Credit Card, Education Finance, Federal Agencies, Student Loan Servicing
In an action somewhat lost amidst the unprecedented $2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Federal Reserve’s Board of Governors announced a series of five “extensive new measures” to provide liquidity for certain sectors of the nation’s economy. One of those liquidity facilities, the reintroduced Term Asset-Backed Securities Loan Facility … Continue Reading

Department of Defense Withdraws Troublesome Military Lending Act Guidance

By Andrew J. Narod, J. Riley Key and Christopher K. Friedman on Posted in Automobile Finance, Compliance, Credit Unions, Federal Agencies, MLA
In a significant victory for servicemembers and their families, who will again have access to products designed to protect them in the event of a total vehicle loss, the Department of Defense has revised its guidance that previously prevented auto lenders from offering service members Guaranteed Asset Protection (GAP) waivers in connection with a vehicle … Continue Reading

Maryland Court of Appeals Bars Confessed Judgment Clauses in Consumer Contracts

By Josh Dhyani, Andrew J. Narod and Marc A. Nardone on Posted in Consumer Protection Act, Debt Collection, Maryland, State Law Developments
A recent decision from the Maryland Court of Appeals provided somewhat surprising new guidance on the permissibility of confessed judgment clauses in consumer contracts. In Goshen Run Homeowners Association, Inc. v. Cisneros, the Court concluded that Maryland’s Consumer Protection Act (the “Maryland CPA”) prohibits all confessed judgment clauses in all consumer contracts. In the underlying … Continue Reading

California’s Proposed “Mini-CFPB” May Increase Scrutiny of Auto Lenders and Other Industry Participants

By Andrew J. Narod and Josh Dhyani on Posted in Automobile Finance, CFPB, FinTech, Payment Systems, Small-Dollar Lending, State Law Developments
Earlier this month, California Gov. Gavin Newsom revealed plans to create a state version of the federal Consumer Financial Protection Bureau (CFPB) as part of the state’s proposed 2020-2021 budget. According to the governor’s Budget Summary, “[t]he federal government’s rollback of the CFPB leaves Californians vulnerable to predatory businesses and leaves companies without the clarity … Continue Reading

New Legislation in House, Senate Would Cap Consumer Loans at 36%, Crippling the Industry

By Jennifer L. Galloway, J. David Stewart III, Andrew J. Narod and Michael M. Aphibal on Posted in CFPB, MLA, Payday Lending, Short-Term Loans, Small-Dollar Lending, TILA, Unsecured Lending
New federal legislation introduced in the House and Senate would place a 36% annual percentage rate cap on nearly all consumer loans, potentially killing the small dollar consumer lending industry. Last month, Congressmen Jesús G. “Chuy” García (D-IL) and Glen Grothman (R-WI) introduced H.R. 5050, the Veterans and Consumers Fair Credit Act. The bill proposes … Continue Reading

Does the New Debt Collection Rule Apply to First-Party Creditors?

By Andrew J. Narod, Lee Gilley, J. Riley Key and Jonathan R. Kolodziej on Posted in Automobile Finance, CFPB, Debt Collection, FDCPA, Payment Systems, UDAAP
Last November, Bradley’s Financial Services Perspectives team predicted that the Consumer Financial Protection Bureau’s (CFPB) then upcoming Notice of Proposed Rulemaking (NPRM) for the Fair Debt Collection Practices Act (FDCPA) might cause concern for first-party creditors. By way of background, the statutory scope of the FDCPA does not reach first-party creditors, instead applying only to … Continue Reading

The Conundrum of Credit Reporting In and After Bankruptcy: Help May Be on the Way

By Keith S. Anderson and Andrew J. Narod on Posted in Automobile Finance, Bankruptcy, Credit Reporting Industry, FCRA, Small-Dollar Lending
Creditors and credit furnishers often find properly reporting a payment status to Credit Reporting Agencies (CRAs) during, and after, bankruptcy a challenge. The recent Report of the American Bankruptcy Institute on Consumer Bankruptcy recognizes those challenges, and looks to convene a forum to provide better guidance and clarity as to proper credit reporting once a … Continue Reading

OCC: Fintechs May Now Apply for Bank Charters

By Andrew J. Narod, Jennifer L. Galloway, Erin Jane Illman and J. David Stewart III on Posted in CFPB, FinTech, OCC, Small-Dollar Lending
The Office of the Comptroller of the Currency announced, in a highly anticipated decision, that it would begin to consider special-purpose charter applications from fintech entities. This move, which has been the subject of months of industry speculation, came mere hours after the Department of the Treasury endorsed a national charter for fintech companies. This … Continue Reading

New Decision from the D.C. Court of Appeals Recognizes Additional Defenses to HOA Super-Priority Lien Statute

By R. Aaron Chastain, Jon H. Patterson and Andrew J. Narod on Posted in Foreclosure, HOA Super Priority Liens, Litigation Developments
As we noted in last week’s blog post, the District of Columbia Court of Appeals issued a decision on March 1, 2018, that created a new wave of uncertainty for lenders with loans secured by deeds of trust on condominium units in the District of Columbia. In the Liu decision, the court held that a … Continue Reading

Is a Foreclosure Crisis Looming in Our Nation’s Capital?

By Andrew J. Narod, Jon H. Patterson and R. Aaron Chastain on Posted in Foreclosure, HOA Super Priority Liens
The District of Columbia Court of Appeals recently sent a new set of shockwaves through the mortgage industry in the nation’s capital when it released its decision in Andrea Liu v. U.S. Bank National Association. Having held over three years ago that condominium associations have “super-priority” liens for unpaid assessments and can wipe out first … Continue Reading

Five Years Later: Five Takeaways From the Bulletin That Rocked the Auto Finance Industry

By C. Meade Hartfield, Andrew J. Narod and Haydn J. Richards Jr. on Posted in Automobile Finance, CFPB, Compliance
In 2013, the Consumer Financial Protection Bureau (CFPB) issued a bulletin on indirect auto lending that took the industry by storm. As we approach the five-year anniversary of the memo’s issuance, it’s valuable to reflect on how the bulletin was received, how the auto finance industry has changed since the bulletin and subsequent CFPB actions, … Continue Reading

2017 in Review: Three State Enforcement Trends Impacting the Auto Finance Industry

By Haydn J. Richards Jr., Andrew J. Narod and C. Meade Hartfield on Posted in Automobile Finance, CFPB, Disparate Impact, State Law Developments
Auto lenders, like many private citizens, began 2017 curious as to what change the impending Trump administration would bring. In the landscape of government enforcement, however, the consensus amongst industry participants was that the Trump administration would bring loosened regulation for the consumer finance industry. Many industry insiders mused about the potential sea change that … Continue Reading

Will Congress Upend Credit Reporting Agencies’ Cybersecurity Regulation in Light of Recent Data Breach?

By Andrew J. Narod on Posted in Credit Reporting Industry, Cybersecurity, Data Privacy, Federal Agencies
Senators Elizabeth Warren (D-Mass.) and Mark Warner (D-Va.) introduced the Data Breach Prevention and Compensation Act on January 10, 2018 in an effort to increase accountability of large Credit Reporting Agencies (CRAs) for data breaches involving consumer data. The bill, drafted in response to the September 2017 Equifax data breach revelations, seeks to impose direct administrative … Continue Reading

State AGs Ask Supreme Court to Spark Major Expansion to Scope of Federal Debt Collection Law

By C. Meade Hartfield and Andrew J. Narod on Posted in Automobile Finance, CFPB, Debt Collection, FDCPA
Should a full-service consumer finance company be subject to federal debt collection law when it attempts to collect upon debt it purchased? Attorneys general from Maryland, the District of Columbia, California, New York, and more than two dozen other states have urged the Supreme Court to adopt a startling new interpretation of federal law and … Continue Reading
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