John L. Culhane, Jr.

John L. Culhane, Jr.

Ballard Spahr LLP

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Maryland Appeals Court Declines to Adopt “Meaningful Attorney Involvement” Standard

The Maryland Court of Special Appeals recently declined to adopt the “meaningful attorney involvement” standard for Fair Debt Collection Practices Act (FDCPA) claims based on alleged insufficient attorney involvement in debt...more

7/24/2015 - Appeals Claim Preclusion Collateral Estoppel Debt Buyers Debt Collection Debtors FDCPA Midland Funding Res Judicata

Connecticut Enacts New Licensing Requirement and Prohibitions for Student Loan Servicers

Connecticut’s new “An Act Concerning A Student Loan Bill of Rights” creates a licensing requirement for servicers of student loans made to state residents and imposes other significant new requirements and prohibitions on...more

7/15/2015 - Banks Licensing Rules Loan Servicing Ombudsman Student Loans

FCC Order Creates New TCPA Challenges for Companies

As previously reported, the Federal Communications Commission recently approved a Declaratory Ruling and Order (the Order) addressing a number of petitions that requested the FCC clarify its interpretations of the Telephone...more

7/14/2015 - Auto-Dialed Calls Collection Agencies Debt Collection Declaratory Rulings Exemptions FCC Financial Institutions Healthcare Prior Express Consent Revocation TCPA Telemarketing Text Messages

OCC Report Identifies Risks to Banks, Sets Supervisory Priorities

A new report issued by the federal Office of the Comptroller of the Currency (OCC) identifies top safety and soundness risks to national banks and federal savings associations, as well as OCC supervisory priorities for the...more

7/13/2015 - Banking Regulators Banking Sector Banks BSA/AML Chief Compliance Officers Compliance Depository Institutions OCC Risk Assessment Supervision

CFPB issues new report on servicemember student loans

A new CFPB report entitled “Overseas & Underserved: Student Loan Servicing and the Cost to Our Men and Women in Uniform” contains the CFPB’s findings regarding student loan servicing problems faced by...more

7/10/2015 - CFPB Military Service Members Student Loans

FFIEC Tool Helps You Assess Cyber Risk

The Federal Financial Institutions Examination Council (FFIEC) has released its long-awaited Cybersecurity Assessment Tool (Assessment) to help financial institutions identify the inherent risks faced by a company and...more

7/9/2015 - Bank Examinations Cyber Threats Cybersecurity FFIEC Financial Institutions OCC Risk Assessment Risk Management Security and Privacy Controls

FTC, Florida AG File Action to Stop Alleged Telemarketing Debt Relief Scam Targeting Seniors

The Federal Trade Commission (FTC) and the Florida Attorney General (AG) have jointly filed a complaint in a Florida federal court against several companies and their individual owners alleging that the defendants engaged in...more

7/3/2015 - Computer Fraud and Abuse Act Consumer Lenders Debt-Relief Industry Elder Abuse Enforcement Actions FDUTPA Financial Abuse Financial Institutions FTC FTCA Nonbank Firms Telemarketing

Divided U.S. Supreme Court Holds Disparate Impact Claims Cognizable Under FHA, but Subject to Safeguards Against Abusive Disparate...

A sharply divided U.S. Supreme Court announced its decision in Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc., on June 25, 2015, holding that disparate impact claims are...more

7/1/2015 - Affordable Housing Disparate Impact Fair Housing Act FHA SCOTUS Texas Dept of Housing v Inclusive Communities

CFPB update on student loan complaints continues to highlight co-signer release issues

The CFPB has issued a “Mid-year update on student loan complaints” that analyzes the approximately 3,100 private student loan complaints received by the CFPB betweenOctober 1, 2014 and March 31, 2015. The update also analyzes...more

6/24/2015 - CFPB Consumer Complaint System Consumer Lenders Cosigners Debt Collection Default Information Reports Releases Student Loans Students

FCC Approves TCPA Clarifications that Increase Potential for Liability

The Federal Communications Commission, in a divided vote, approved an order clarifying several long-simmering Telephone Consumer Protection Act (TCPA) issues. While the order has not been officially released, the...more

6/22/2015 - ATDS FCC Prior Express Consent Robocalling TCPA

CFPB Finalizes Rule to Supervise Nonbank Auto Finance Companies, Releases Auto Finance Examination Procedures for Banks, Nonbanks

The Consumer Financial Protection Bureau has issued a final rule allowing it to supervise nonbank companies that qualify as “larger participants of a market for automobile financing.” Relatedly, it adopted simultaneously a...more

6/12/2015 - Auto Lease Automotive Industry Automotive Loans Car Dealerships CFPB Consumer Financial Products Consumer Lenders Final Rules Market Participants Nonbank Firms

Final Diversity and Inclusion Standards Issued Jointly by Six Federal Agencies

Pursuant to a mandate contained in Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank or Act), six federal agencies jointly issued new Diversity and Inclusion (D&I) Standards today. These...more

6/11/2015 - Diversity Diversity and Inclusion Standards (D&I) Dodd-Frank Employer Mandates Hiring & Firing OMWI Regulatory Standards

FCC Chairman Releases Proposed TCPA Declaratory Rulings

Federal Communications Commission (FCC) Chairman Tom Wheeler has issued a fact sheet describing his proposed declaratory rulings on various issues involving the FCC’s interpretation of the Telephone Consumer Protection Act...more

6/3/2015 - FCC TCPA

State AG – Credit Bureaus Settlement: What Furnishers Need to Know - More than 30 state attorneys general reached a settlement...

Last week, Ohio Attorney General Mike DeWine issued a press release announcing the results of a multi-state investigation into the three national credit reporting agencies (CRAs) - Equifax Information Services LLC, Experian...more

5/29/2015 - CFPB Credit Reporting Agencies Credit Reports Debt Buyers Debt Collection Equifax Experian FCRA TransUnion

Second Circuit Rules FDCPA Does Not Require Disclosure of Settlement’s Tax Consequences

The U.S. Court of Appeals for the Second Circuit has ruled that the Fair Debt Collection Practices Act (FDCPA) does not require a debt collector to disclose the possible tax consequences of a debtor’s acceptance of a...more

5/26/2015 - Appeals Debt Collectors FDCPA Income Taxes

U.S. Dept. of Education proposes new restrictions on campus financial products

The U.S. Department of Education has issued proposed revisions to its Title IV Higher Education Act (HEA) cash management rules that include significant new restrictions on financial products used to disburse credit balance...more

5/22/2015 - Colleges Consumer Financial Contracts Consumer Financial Products Department of Education Higher Education Act Proposed Amendments Students Universities

U.S. Department of Education Proposes New Restrictions on Campus Financial Products

The U.S. Department of Education has issued proposed revisions to its Title IV Higher Education Act (HEA) cash management rules that include significant new restrictions on financial products used to disburse credit balance...more

5/21/2015 - Colleges Consumer Lenders Department of Education Financial Aid Higher Education Act Proposed Amendments Students Universities

Ninth Circuit Rules FDCPA and California Law Do Not Prohibit Collection Letter Seeking Prejudgment Interest

The U.S. Court of Appeals for the Ninth Circuit recently ruled that a debt collection letter seeking prejudgment interest on the debt did not violate the Fair Debt Collection Practices Act (FDCPA) or California’s Rosenthal...more

5/20/2015 - Appeals Debt Collection FDCPA Prejudgment Interest

The CFPB Announces Final Diversity Standards under Dodd-Frank Section 342 Are Completed

On April 29, 2015, the Office of Minority and Women Inclusion (OMWI) of the Consumer Financial Protection Bureau (CFPB or Bureau) released its third Annual Report for 2014, as mandated by Section 342(e) of the Dodd-Frank Act...more

5/6/2015 - CFPB Diversity Dodd-Frank Federal Contractors OMWI

CFPB to hold May 14 field hearing on student debt

The CFPB has announced that on May 14, 2015, it will hold a field hearing in Milwaukee on student debt. Similar to other field hearings, Director Cordray will give remarks and witnesses will include members of consumer...more

4/30/2015 - Administrative Hearings CFPB Consumer Lenders Student Loans Students

FTC Announces Settlement with Retail Tracking Company

The Federal Trade Commission recently announced a proposed settlement with a retail tracking company to resolve charges that the company’s privacy policy misled consumers about their ability to opt out of the company’s...more

4/29/2015 - FTC Mobile Devices Mobile Privacy Privacy Policy Retailers Settlement Web Tracking

U.S. Supreme Court To Decide If Statutory Damages Are Recoverable Even Without Any Actual Harm

The U.S. Supreme Court has agreed to hear an important case that will decide whether a plaintiff who cannot show any actual harm from a violation of the Fair Credit Reporting Act (FCRA) nevertheless has standing under Article...more

4/28/2015 - Article III FCRA Imminent Harm Putative Class Actions SCOTUS Spokeo v Robins Standing Statutory Damages

Rule Expanding Military Lending Act Protections In Limbo

The Department of Defense's (DoD) proposed rule to revise and expand the coverage of its rule implementing the Military Lending Act (MLA) may be put on hold. The House Committee on Armed Services Subcommittee for Military...more

4/27/2015 - DOD Military Lending Act Military Service Members NDAA Proposed Amendments

Cordray remarks signal continued CFPB attention to student loan servicing and campus financial products

Student loan servicers and providers of campus financial product were the focus of remarks given yesterday by Director Cordray at the Ohio College Presidents’ Conference. Director Cordray stated that the CFPB estimates that...more

4/24/2015 - CFPB Colleges Consumer Financial Products Loan Servicing Richard Cordray Student Loans Universities

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