TCPA Risks Increase For The Financial Services Industry

Law360, New York (November 12, 2014, 10:50 AM EST) -- Companies in the financial services industry are being targeted in lawsuits brought under the Telephone Consumer Protection Act. Record-setting class action settlements like the recent $75 million settlement involving Capital One have captured the headlines. Moreover, unsettled law concerning the scope of consent creates uncertainty and places a compliance burden on financial services companies that communicate with their customers by phone or text using an automated telephone dialing system. This article provides an overview of recent TCPA cases against financial services companies, analyzes the critical issue of consent, and discusses strategies to avoid TCPA class actions....

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