The CFPB has published a notice in the Federal Register announcing that it is seeking applications for membership on its Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic...more
1/16/2020
/ Advisory Committee ,
Community Banks ,
Community Development ,
Consumer Advisory Board ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Unions ,
Debt Collection ,
Debt Collectors ,
Debt Relief ,
Debt-Relief Industry ,
Fair Lending ,
Federal Register ,
Financial Services Industry ,
Membership Interest ,
Mortgages
On July 12, 2017, a subcommittee of the House Financial Services Committee will hold a hearing entitled “Examining Legislative Proposals to Provide Targeted Regulatory Relief to Community Financial Institutions.” The...more
7/11/2017
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Buyers ,
Debt Collectors ,
FDCPA ,
Financial Institutions ,
Financial Services Committee ,
Financial Services Industry ,
GAO ,
Mortgages ,
Regulatory Requirements ,
Truth in Lending Act (TILA) ,
UDAAP
A California federal district court has refused to dismiss a lawsuit filed by the CFPB in January 2017 against several law firms and attorneys alleging that the defendants violated the FTC’s Telemarketing Sales Rule (TSR) and...more
The FTC has sent a letter to the CFPB summarizing the FTC’s debt collection activities in 2016. The letter is intended to provide the CFPB with information for its annual report to Congress on the federal government’s FDCPA...more
The CFPB announced that it has entered into a consent order with two law firms specializing in the collection of medical debts and their president for alleged FDCPA violations. The consent order also settles allegations that...more
The CFPB’s Fall 2016 rulemaking agenda has been published as part of the Fall 2016 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more
12/2/2016
/ Advances ,
Arbitration ,
Automotive Loans ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Debt Collection ,
Debt Collectors ,
ECOA ,
FDCPA ,
Financial Institutions ,
Minority-Owned Businesses ,
Mortgages ,
Overdraft Fees ,
Payday Loans ,
Regulation C ,
Regulatory Agenda ,
SBREFA ,
Small Business ,
Small Entity Representatives (SERs) ,
Student Loans ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Title Loans ,
Trump Administration ,
Women-Owned Businesses
The CFPB announced that, jointly with the New York Attorney General, it has filed a lawsuit in a New York federal court against three companies that purchased consumer debts and two of the companies’ individual principals...more
The CFPB announced that it has entered into a consent order with Navy Federal Credit Union to settle allegations that the credit union engaged in unfair and deceptive collection practices in violation of the Consumer...more
10/17/2016
/ Banking Sector ,
Banks ,
Civil Monetary Penalty ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Contract Terms ,
Credit Unions ,
Debt Collection ,
Debt Collectors ,
Enforcement Actions ,
Financial Institutions ,
Financial Services Industry ,
Military Service Members ,
Redress Payments ,
Unfair or Deceptive Trade Practices
It has been reported that the SBREFA panel for the CFPB’s debt collection rulemaking met last week with small entity representatives (SER). In anticipation of convening the panel, the CFPB issued an outline of the proposals...more
The CFPB has moved a step closer to issuing a debt collection rule by releasing an outline of the proposals it is considering in preparation for convening a small business review panel. The Small Business Regulatory...more
8/1/2016
/ Consumer Financial Protection Bureau (CFPB) ,
Debt Buyers ,
Debt Collection ,
Debt Collectors ,
Dodd-Frank ,
FDCPA ,
Financial Institutions ,
SBREFA ,
Small Business ,
Third-Party Service Provider ,
Time-Barred Debt
The CFPB has filed a supplemental amicus brief with the U.S. Court of Appeals for the Third Circuit in Bock v. Pressler & Pressler, LLP, the case in which the district court ruled that a debt collection law firm violated the...more
6/10/2016
/ Amicus Briefs ,
Article III ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Debt Collectors ,
Debt Settlement Services ,
Debt-Relief Industry ,
FDCPA ,
Federal Trade Commission (FTC) ,
Spokeo v Robins ,
Standing
On March 29, 2016, the U.S. Supreme Court will hear oral argument in a Fair Debt Collection Practices Act case in which the CFPB joined the Solicitor General in filing an amicus brief in support of the plaintiffs. The court...more
In a recent blog post, Dan Dwyer, a Staff Attorney with the FTC’s Division of Financial Practices, provided advice to assist consumers in communicating with a debt collector when the consumer does not recognize the debt. The...more
The CFPB has issued its October 2015 complaint report, the fourth in its new series of monthly complaint reports. The new report highlights credit card complaints and complaints from consumers in the Chicago, Illinois metro...more
10/29/2015
/ Consumer Complaint System ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Cards ,
Credit Reporting Agencies ,
Credit Reports ,
Debt Collection ,
Debt Collectors ,
Financial Institutions ,
Payday Loans
Earlier this year, the CFPB filed a complaint in Atlanta federal district court targeting an alleged debt collection scam in which not only were the debt collectors named as defendants (Debt Collectors) but three companies...more
9/11/2015
/ Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Debt Collectors ,
Financial Institutions ,
ISOs ,
Motion to Dismiss ,
Payment Processors ,
Securities Exchange Act ,
UDAAP ,
Underwriting
The FTC has announced that it is moving its second “Debt Collection Dialogue,” scheduled to be held in Dallas, Texas on September 29, 2015, to a larger venue. The FTC is moving to the larger venue because the number of...more
A federal court in Pennsylvania has ruled that a debt collector violated the Fair Debt Collection Practices Act (FDCPA) by sending a collection letter in an envelope that allegedly revealed a barcode in which the plaintiff’s...more
The CFPB will be participating in the FTC’s second “Debt Collection Dialogue” to be held in Dallas, Texas on September 29, 2015. Gregory Nodler, CFPB Senior Counsel for Enforcement Policy and Strategy, is scheduled to be a...more
The CFPB has sent a questionnaire which, according to the CFPB’s accompanying cover letter, is intended to help the CFPB “better understand operational costs and other factors associated with debt collection.” The cover...more
Yesterday, the CFPB announced that it had filed a lawsuit against “the ringleaders of a robo-call phantom debt collection operation, their companies, and their service providers.” This is the same lawsuit filed in federal...more
A new CFPB enforcement action filed in federal district court in Atlanta and unsealed last week targeting an alleged debt collection scam names as defendants not only the debt collectors and their individual principals but...more
On December 11, the CFPB announced lawsuits against two student loan debt relief companies alleged to have deceived borrowers into paying upfront fees for federal student loan repayment benefits that are available for free....more
In This Issue:
- MERS Has Power To Assign Interest in Deed of Trust, Borrower Can Challenge Assignment of Mortgage, First Circuit Rules
- Federal Judge Refuses To Dismiss Arizona Mortgage Class Action Alleging...more
2/21/2013
/ Class Action ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collectors ,
Deed of Trust ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Fair Lending ,
Fraud ,
Information Sharing ,
Interest Rates ,
Licenses ,
MERS ,
Mortgage Loan Originators
In This Issues:
- CFPB Generates Flurry of New Mortgage Banking Industry Rules
- CFPB Issues Final ECOA Appraisal Rule
- 20 State Agencies Adopt Uniform State MLO Testing
- Mortgage Foreclosure Is Debt...more
In This Issue:
- Ohio Enacts the Nation's First Transitional MLO Licensing Law for Out-of-State MLOs
- Noted Data Security and Privacy Attorney Amy Mushahwar Joins Ballard Spahr
- Information Security...more