Stefanie Jackman

Stefanie Jackman

Ballard Spahr LLP

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Furnishers Beware – CFPB Signals That Civil Penalties May Be Appropriate Even Without Any Actual Consumer Injury

Yesterday, the CFPB announced a consent order with First Investors Financial Services Group, Inc., an auto finance company that both makes loans to consumers and purchases retail installment sale contracts from auto dealers....more

8/22/2014 - Automotive Industry Automotive Loans Car Dealerships CFPB Civil Monetary Penalty Consent Order Credit Reports

FTC Announces Settlement with Debt Collector over Alleged FDCPA Violations

The Federal Trade Commission (FTC) recently announced a settlement with a Houston debt collection company and its individual owner related to alleged violations of the Fair Debt Collection Practices Act (FDCPA). This action...more

7/2/2014

Loan Servicer Properly Identified as Party with Authority To Negotiate Mortgage Terms in Foreclosure Notice, Georgia Court Holds

A recent decision by the Georgia Court of Appeals helps to add further clarity to the state’s foreclosure notice statute. The statute, which was amended in 2008, requires that the written notice of a foreclosure sale “shall...more

6/20/2014 - Appeals Foreclosure Loan Servicer Mortgages Negotiations Notice Requirements Written Notice

ABA and CBA Express Concern That The CFPB’s Consumer Debt Collection Survey Falls Short

On May 6, 2014, the American Bankers Association (“ABA”) and Consumer Bankers Association (“CBA”) submitted comments to the CFPB’s “Debt Collection Survey from the Consumer Credit Panel” (the “Survey”). While the ABA and CBA...more

5/19/2014 - American Bankers Association CFPB Debt Debt Collection

W.Va. Requires Time-Barred Debt Disclosures in ‘Initial Written Communication’

The West Virginia Legislature recently passed H.B. 4360, which amended Section 46A-2-128 of the West Virginia Code, that defines what constitutes unfair or unconscionable debt collection activities. The amendments are...more

4/17/2014 - Debt Debt Collection Disclosure Requirements UDAAP

Eleventh Circuit Clarifies Pre-Consummation Disclosure Requirements under TILA

Under the Truth in Lending Act (TILA), lenders are required to make certain disclosures to borrowers before consummating mortgage loans. If a lender fails to make these disclosures, the borrower may have the right to rescind...more

2/18/2014 - Disclosure Requirements Fair Lending TILA

Collection Letter Requiring Written Dispute Violated FDCPA, Fourth Circuit Holds

A collection letter violated the Fair Debt Collection Practices Act (FDCPA) because it stated that the debtor could only dispute the debt in writing, the U.S. Court of Appeals for the Fourth Circuit has ruled. The Fourth...more

2/7/2014 - Debt Collection FDCPA

HUD Rule Allowing Lenders To Demand Immediate Reverse Mortgage Repayments from Widowers Violates Federal Law, Court Holds

A Washington, D.C., District Court ruled recently that a Housing and Urban Development (HUD) regulation allowing lenders to demand that widowers immediately repay reverse mortgage loans upon the death of their spouses...more

10/29/2013 - HUD Lenders Mortgages Reverse Mortgages

FTC Settles First Case Challenging Debt Collector’s Use of Text Messages

The Federal Trade Commission recently announced that it had settled a case representing its first action challenging a debt collector’s use of text messages. In its complaint, the FTC alleged that the defendant debt...more

10/4/2013 - Debt Collection FDCPA FTC TCPA Texting

The CFPB’s response to June 20, 2013 Congressional letter regarding the indirect auto lending bulletin: raises more questions than...

On August 2, 2013, the CFPB responded to the June 20, 2013 letter from 35 Republican members of the U.S. House of Representatives, questioning the manner in which the CFPB developed recent guidance regarding indirect auto...more

8/12/2013 - Automotive Industry CFPB ECOA Fair Lending Loans

Collection Letter Requiring Written Dispute Violated FDCPA, Second Circuit Holds

A collection letter violated the Fair Debt Collection Practices Act (FDCPA) because it stated that the debtor could only dispute the debt in writing, the U.S. Court of Appeals for the Second Circuit has ruled....more

6/7/2013 - Debt Collection Debtors FDCPA Writing Requirement

What is the CFPB thinking? An update from PLI’s 18th Annual Consumer Financial Services Institute

Last week, I had the opportunity to hear several high-ranking lawyers with the CFPB speak at PLI’s 18th Annual Consumer Financial Services Institute in Chicago. As an initial matter, the attendees owe a debt of thanks to each...more

5/7/2013 - CFPB Enforcement False Advertising

CFPB Issues Second Annual Report on FDCPA Activities

The Consumer Financial Protection Bureau’s second annual report to Congress on enforcement of the Fair Debt Collection Practices Act (FDCPA) confirms that debt collection will continue to be a major CFPB focus in 2013....more

3/27/2013 - CFPB Debt Collection Dodd-Frank FDCPA FTC

Mortgage Banking Update - March 21, 2013

In This Issue: - Uniform State Test Implementation Nearing - Mortgage Servicer's Alleged Failure To Be Licensed Subjects Company to Claims under State and Federal Debt Collection Statutes - Sixth Circuit...more

3/21/2013 - Amount in Controversy CAFA Class Action Data Protection Debt Collection FDCPA Foreclosure FTC HOA Licenses Liens Mobile Payments Mortgages Privity of Contract Res Judicata Robo-Signing SCOTUS Uniform State Test

Collection Letter Inviting Debtor To Call Toll-Free Number Violated FDCPA, Third Circuit Holds

A collection letter violated the Fair Debt Collection Practices Act (FDCPA) because its invitation to call a toll-free number could be read by the “least sophisticated debtor” to permit the debt to be effectively disputed by...more

3/14/2013 - Debt Collection Debtors FDCPA Notice Requirements

Prevailing Defendant Can Recover Costs in FDCPA Suit Not Filed in Bad Faith, Supreme Court Rules

A prevailing defendant in a Fair Debt Collection Practices Act (FDCPA) case can recover costs even without a court finding that the plaintiff filed suit in bad faith and for the purpose of harassment, the U.S. Supreme Court...more

3/1/2013 - Attorney's Fees CFPB Debt Collectors FDCPA General Revenue Corp. Legal Costs Prevailing Party SCOTUS

FTC Continues To Target Debt Collectors and Debt Relief Companies

The Federal Trade Commission’s continuing focus on the debt collection and debt relief industries was clearly demonstrated by several recently announced lawsuits and settlements....more

2/11/2013 - CFPB Debt Collection Debt Collectors Debt Settlement Services Debt-Relief Industry FDCPA FTC Section 5 Telemarketing Sales Rule

Mortgage Banking Update - Febuary 06, 2013

In This Issue: - Settlement of Michigan Lending Discrimination Lawsuit Underscores Regulatory Focus on Equal Access to Credit - Industry Employers Should Prepare Now for Health Care Reform - Title...more

2/6/2013 - Affordable Care Act Agents Canning v NLRB CFPB Community State Bank Discrimination DOJ ECOA Employer Group Health Plans Equal Access to Credit FFIEC Healthcare Insurance Agents Negligence NLRB Pay or Play Race Discrimination Recess Appointments Richard Cordray Social Media Title Examination Title Insurance Underwriting

FTC Issues Debt Buying Industry Study

The Federal Trade Commission has issued a report, The Structure and Practices of the Debt Buying Industry, which the FTC has described as “the first of its kind” empirical study of debt buyers. ...more

2/1/2013 - CFPB Debt Debt Buyers Debt Collection FTC

Settlement of Michigan Lending Discrimination Lawsuit Underscores Regulatory Focus on Equal Access to Credit

The U.S. Department of Justice (DOJ) has reached a settlement with Community Bank of St. Charles, Michigan, in a federal lending discrimination lawsuit filed by DOJ against the bank....more

1/28/2013 - CFPB Discrimination DOJ ECOA Equal Access to Credit Fair Lending FHA Mortgages Settlement

Mortgage Banking Update - December 14, 2012

In This Issue: - CFPB Monitor Named to the ABA Journal Annual Blawg 100 List - Temporary CONGRESS PASSES LEGISLATION TO FIX CFPB PRIVILEGE WAIVER PROBLEM - CFPB DESCRIBES PLANS FOR COORDINATING WITH STATE...more

12/14/2012 - Advertising Attorney-Client Privilege Browser History Sniffing CFPB DOJ Enforcement Attorneys FCRA FTC Ombudsman Waivers

The Bureau and DOJ “agree to agree” on fair lending

On December 6, 2012, the CFPB and the Department of Justice (“DOJ”) executed a Memorandum of Understanding (“MOU”) aimed at strengthening their coordination in connection with fair lending investigations....more

12/11/2012 - CFPB Dodd-Frank DOJ ECOA Fair Lending

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