News & Analysis as of

Debt Collection Credit Unions

Buchalter

Newly Enacted California Consumer Financial Protection Law (AB 1864) Reorganizes and Renames Financial Institutions Regulator for...

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California has enacted a new California Consumer Protection Law (CCFPL), California Financial Code Section 90001 et seq. The CCFPL will convert the Department of Business Oversight (DBO) into a new Department of Financial...more

Ballard Spahr LLP

CFPB seeking applications for membership on advisory groups

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The CFPB has published a notice in the Federal Register announcing that it is seeking applications for membership on its Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic...more

Ballard Spahr LLP

NAFCU urges regulatory relief for credit unions in letter to Secretary of the Treasury Mnuchin

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On February 28, 2017, B. Dan Berger, President and Chief Executive Officer of the National Association of Federally-Insured Credit Unions (the “NAFCU“), urged regulatory relief for credit unions in a letter submitted to the...more

Bradley Arant Boult Cummings LLP

Creditors and Debt Collectors Should Pay Close Attention to the CFPB’s Consent Order with Navy Federal Credit Union

The Consumer Financial Protection Bureau (CFPB) announced a consent order with Navy Federal Credit Union (Navy Federal) on October 11, 2016. While financial institutions should always analyze CFPB consent orders closely and...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

Goodwin

CFPB Settles with National Credit Union Over Alleged Deceptive Debt Collection Practices

Goodwin on

On October 11, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a national credit union over allegations that the credit union made false and misleading representations to...more

Ballard Spahr LLP

CFPB Credit Union Advisory Council to meet Sept. 1

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The CFPB has published a notice in the Federal Register announcing that a meeting of its Credit Union Advisory Council (CUAC) will be held on September 1, 2016. The notice indicates that the CUAC will discuss youth financial...more

BakerHostetler

CFPB Releases Fall 2015 Report Touting Recovery of Millions Through Supervisory Actions

BakerHostetler on

On November 3, the Consumer Financial Protection Bureau (CFPB) released its fall 2015 supervisory report concerning enforcement actions from May 2015 through August 2015. The Bureau highlights violations in the mortgage...more

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