News & Analysis as of

Banks Debt Collectors

Orrick, Herrington & Sutcliffe LLP

New York AG settles with bank over EIPA violations

On April 17, the New York attorney general (AG) announced a settlement with a bank (respondent) to resolve allegations that respondent improperly froze customer accounts and paid out consumer funds to debt collectors, and...more

Goodwin

CFPB Withdraws Proposal to Delay Debt Collection Final Rules

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In This Issue. The Consumer Financial Protection Bureau (CFPB) withdrew its proposal to delay the Debt Collection Final Rules; the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance...more

Troutman Pepper

2020 Consumer Financial Services Year in Review & A Look Ahead

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2020 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation, Troutman Pepper is uniquely positioned to help its clients find successful resolutions...more

Manatt, Phelps & Phillips, LLP

Supreme Court: FDCPA Doesn’t Cover Owned Debt

A bank or other person may collect debts that it purchased for its own account without triggering the statutory requirements of the Fair Debt Collection Practices Act, a unanimous Supreme Court recently ruled....more

Goodwin

Financial Services Weekly News - May 2017 #4

Goodwin on

Editor's Note - Memorial Day. On Memorial Day, we will be celebrating the men and women whose service and sacrifice ensures the preservation of freedom and opportunity across the United States. Rather than summarize the...more

Ballard Spahr LLP

CFPB enters into consent order with credit union

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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

Morgan Lewis

CFPB Previews Anticipated Debt Collection Regulations

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The long-expected CFPB summary of new rule proposals for third-party debt collectors would have major implications not only for the debt collectors themselves, but also for the banks and other financial institutions doing...more

Stinson LLP

CFPB Releases Monthly Complaint Report for September

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On October 27, 2015, the Consumer Financial Protection Bureau (CFPB) released its latest Monthly Complaint Report, which provides an overview of three-month trends in consumer complaints. This Monthly Complaint Report also...more

Carlton Fields

CFPB Reports Continued Mortgage Servicing and Other Violations of Consumer Financial Law

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In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more

Stinson - Corporate & Securities Law Blog

Can You be Regulated by the CFPB?

The Consumer Financial Protection Bureau, or CFPB, was created to enforce various consumer finance laws like the Equal Credit Opportunity Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, Home Mortgage...more

Butler Snow LLP

Application of the FDCPA is limited by the 11th Circuit

Butler Snow LLP on

Recently, in Davidson v. Capital One Bank (USA), N.A., 2015 U.S. App. LEXIS 14714 (11th Cir. Aug. 21, 2015), the 11th Circuit held that banks do not qualify as “debt collectors” under the Federal Debt Collection Practices Act...more

Ballard Spahr LLP

Sixth Circuit Holds that a Business Entity Is a "Person" for Purposes of FDCPA's Enforcement Provision

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The Sixth Circuit Court of Appeals recently held that a limited liability company (“LLC”) constitutes a “person” within the meaning of the Fair Debt Collection Practices Act (FDCPA or the “Act”), in Anarion Investments LLC v....more

Burr & Forman

FDCPA Bona Fide Error Defense Held Applicable to Statute-of-Limitation Mistakes of Law

Burr & Forman on

Following the Supreme Court’s ruling in Jerman v. Carlisle, McNellie, Rini, Kramer & Ulrich LPA, 559 U.S. 573 (2010), it is clear that the bona fide error defense set forth in section 1692k(c) of the Fair Debt Collection...more

Carlton Fields

The FCC's TCPA Regulatory Ruling Imposes Tighter Call Restrictions

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Last month, the Federal Communications Commission (FCC) released a long awaited declaratory ruling and order, FCC 15-72, addressing several petitions which sought clarification of or exemptions from Telephone Consumer...more

BakerHostetler

“Don’t Call Us, We’ll Call You.” The FCC’s Latest TCPA Ruling Imposes Even More Restrictions on Telemarketing Calls and Texts

BakerHostetler on

On July 10, 2015, the Federal Communications Commission released the Omnibus Declaratory Ruling and Order (the Order) it adopted on June 18. The Order addresses requests for clarification regarding requirements under the...more

Davis Wright Tremaine LLP

FCC’s TCPA Order Offers Little Clarity or Relief for Businesses

In potentially its most significant action under the Telephone Consumer Protection Act (TCPA) since the 2003 overhaul of its rules ushering in the National Do-Not-Call Registry and other updates, the Federal Communications...more

Manatt, Phelps & Phillips, LLP

NBA Doesn’t Preempt State Usury Claims Against Assignee of National Bank, Second Circuit Rule

Why it matters - In a potentially troubling ruling, the Second Circuit Court of Appeals refused to find the National Bank Act (NBA) preempted state law usury claims against an assignee of a national bank. In a putative...more

Morrison & Foerster LLP

Brave New World for Data Furnishers

On September 4, 2013, the Consumer Financial Protection Bureau (“CFPB”) issued a Bulletin warning data furnishers that they face potential disciplinary action if they do not properly review information submitted to the credit...more

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