Legal and Regulatory Risks & Opportunities Facing Credit Counseling Agencies: Navigating a Legal Mindfield to Help Consumers in Need



Dodd-Frank Wall Street Reform and Consumer Protection Act: New Bureau of Consumer Financial Protection; Other Opportunities and Pitfalls; Other Federal Developments: What does the new Telemarketing Sales Rule Mean for Credit Counseling? What’s Next for the Federal Trade Commission? Housing Counseling; and, Internal Revenue Code; State Legal and Regulatory Developments; Issues for the Future; and, Question and Answers.

For the first time in history, there is about to be one federal regulator with rulemaking, supervisory and enforcement responsibilities over credit counseling agencies and lenders alike.

On top of that, other federal and state legislative and regulatory activity related to credit counseling has seemingly reached record levels, with overlapping and often conflicting regulations potentially applying to credit counseling agencies, as well as financial products and services.

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Published In: Administrative Agency Updates, Antitrust & Trade Regulation Updates, Consumer Protection Updates, Finance & Banking Updates, Tax Updates

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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