Banking & Financial Services E-Note - November 21, 2013

In This Issue:

- CFPB Prepares New Rules Restricting Debt Collectors

- CFPB, DOJ Team to Investigate Auto Dealers Over Financing Bias

- CFPB Investigating Credit Card Rewards Programs

- Consideration of Income-Based Student Loan Repayment Encouraged

- Holiday Season Expected to Bring Rise in Online Banking Fraud

- Excerpt from CFPB Prepares New Rules Restricting Debt Collectors:

The federal government's consumer financial watchdog plans to crack down on the nation's 4,500 debt collectors with new regulations to ensure that collectors are going after the right people for the right amounts and aren't badgering the debtors. The Consumer Financial Protection Bureau said that it was seeking public comment on new rules because the 1977 law regulating debt collection practices hasn't kept up with advances in technology.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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