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Debt Collection Dodd-Frank Wall Street Reform and Consumer Protection Act UDAAP

Alston & Bird

Oh Snap! CFPB Sues Fintech Company under CFPA and TILA

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A&B Abstract: On July 19, 2023, the Consumer Financial Protection Bureau (CFPB) sued a Utah-based fintech company and several of its affiliates (the Company) for allegedly deceiving consumers and obscuring the terms of its...more

Ballard Spahr LLP

President Biden issues Executive Order encouraging FTC rulemaking on consumer data collection, CFPB rulemaking on data...

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Last Friday, President Biden issued an Executive Order on Promoting Competition in the American Economy. Much of the Order is directed at increasing competition in the labor market, transportation, agriculture, healthcare,...more

ArentFox Schiff

Trump-Era CFPB Retrospective: Debunking the Myths and Looking Ahead to Biden

ArentFox Schiff on

The Trump era of the last four years is regarded in the popular press as one of federal deregulation, and the Consumer Financial Protection Bureau, which will commemorate the eleventh anniversary of its founding later this...more

McGlinchey Stafford

CFPB Issues Debt Collection Final Rule

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On October 30, 2020, the Consumer Financial Protection Bureau (CFPB) issued a final rule (the Rule) amending Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA). The Rule modernizes requirements...more

Ballard Spahr LLP

CFPB Winter 2020 Supervisory Highlights looks at debt collection, mortgage servicing, payday lending, student loan servicing

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The CFPB has released the Winter 2020 edition of its Supervisory Highlights.  The report discusses the Bureau’s examinations findings in the areas of debt collection, mortgage servicing, payday lending, and student loan...more

Bradley Arant Boult Cummings LLP

Does the New Debt Collection Rule Apply to First-Party Creditors?

Last November, Bradley’s Financial Services Perspectives team predicted that the Consumer Financial Protection Bureau’s (CFPB) then upcoming Notice of Proposed Rulemaking (NPRM) for the Does the New Debt Collection Rule Apply...more

McGuireWoods LLP

The CFPB’s Debt-Collection Proposal: Key Details and Webinar

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This post follows up on our earlier “primer” and flash alert on the Consumer Financial Protection Bureau’s proposed rule (the proposal) to implement the Fair Debt Collection Practices Act, which the CFPB released with a Fact...more

Ballard Spahr LLP

CFPB publishes debt collection proposed rule

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The CFPB has published its long-awaited notice of proposed rulemaking under the Fair Debt Collection Practices Act (FDCPA). ...more

McGuireWoods LLP

Primer on the CFPB’s Imminent Fair Debt Collection Practices Act Rule Proposal

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As soon as next week, the Consumer Financial Protection Bureau (CFPB) is expected to propose the first substantive regulations under the Fair Debt Collection Practices Act (FDCPA) since the law’s enactment in 1977. This...more

McGuireWoods LLP

Primer on the CFPB's Imminent Fair Debt Collection Practices Act Rule Proposal

McGuireWoods LLP on

As soon as next week, the Consumer Financial Protection Bureau (CFPB) is expected to propose the first substantive regulations under the Fair Debt Collection Practices Act (FDCPA) since the law’s enactment in 1977. This...more

Dorsey & Whitney LLP

The CFPB Says Fees and Fee-Related Disclosures For Payments-By-Phone May Constitute an Unfair and Deceptive Practice and Violate...

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In a Compliance Bulletin released July 27, 2017, the Consumer Financial Protection Bureau (CFPB) cautioned covered persons and service providers that fees for pay-by-phone services (called “phone pay fees”) may run afoul of...more

Baker Donelson

CFPB Warns Against “Tricking Consumers” with Pay-by-Phone Fees

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Regulated entities should be prepared to defend their policies and practices surrounding fee-based pay-by-phone options in light of new guidance issued by the Consumer Financial Protection Bureau (CFPB). The CFPB released...more

Ballard Spahr LLP

CFPB issues guidance on pay-by-phone fees

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The CFPB has issued a new compliance bulletin (2017-11) to provide guidance on pay-by-phone fees.  The guidance includes examples of conduct relating to pay-by-phone practices identified by the CFPB in its supervision and...more

Bradley Arant Boult Cummings LLP

CFPB Issues Pay-by-Phone Guidance with Far-Reaching Implications

On July 31, the Consumer Financial Protection Bureau (CFPB) issued a public bulletin intended to provide guidance to covered persons and service providers who take payments from consumers using pay-by-phone services and...more

Ballard Spahr LLP

CFPB issues Fall 2016 Supervisory Highlights

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In its Fall 2016 Supervisory Highlights, which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto...more

Morrison & Foerster LLP

What You Need to Know Now About the CFPB’s Debt Collection Proposal

On July 28, 2016, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued its outline of proposals under consideration for the regulation of debt collection. This 117-page release, entitled “Small Business Review...more

Dorsey & Whitney LLP

CFPB Supervisory Highlights – January 2016 to April 2016

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On June 30, 2016, the Consumer Financial Protection Bureau (“CFPB”) released the twelfth edition of its Supervisory Highlights report (“Report”), which focused on supervision work completed between January and April 2016. The...more

WilmerHale

CFPB Examinations and Investigations: Defense Strategies and Best Practices

WilmerHale on

The pursuit of examinations and enforcement actions by the Consumer Financial Protection Bureau (CFPB) has created new challenges for entities that provide consumer financial products and services. Given the CFPB’s broad...more

Baker Donelson

The CFPB's New Debt Collection Rule is Coming

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The CFPB published its fifth annual report summarizing activities to administer the Fair Debt Collection Practices Act (FDCPA) on March 22. The report does not provide a date to expect the CFPB's new rule on debt collection,...more

Goodwin

Federal Trade Commission Issues Report to the Consumer Financial Protection Bureau of its Enforcement of the Fair Debt Collection...

Goodwin on

On February 12, 2016, the Federal Trade Commission (FTC) issued a report to the Consumer Financial Protection Bureau regarding its efforts to implement the Fair Debt Collection Practices Act. The full report can be...more

Manatt, Phelps & Phillips, LLP

CFPB Warns About "Heightened Risk" of In-Person Debt Collections, Settles Case Against Lender for $10.5 Million

Why it matters - In conjunction with the announcement of a $10.5 million agreement with a lender that allegedly engaged in illegal debt collection practices, the Consumer Financial Protection Bureau (CFPB) issued a...more

Davis Wright Tremaine LLP

Recent Actions Added To UDAAP Database

PLA today updates the UDAAP database with a series of enforcement actions from the CFPB and, notably, the prudential regulators. The majority of enforcement actions involving allegedly unfair, deceptive, and abusive...more

K&L Gates LLP

In Win for CFPB, Federal Court Clarifies Scope of “Substantial Assistance” and “Service Provider” Provisions of Dodd-Frank Act

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In the first court decision to opine on the “service provider” and “substantial assistance” provisions of the Dodd-Frank Act, a federal district court in Georgia denied a motion to dismiss brought by payments processors who...more

Morrison & Foerster LLP

Dodd-Frank at 4: Where do we go from here?

Where do we go from here? As we mark another milestone in regulatory reform with the fourth anniversary of the enactment of the Dodd-Frank Act, it strikes us that although most studies required to be undertaken by the Act...more

Dorsey & Whitney LLP

“Abusive” Development – Recent Applications of the Prohibition against Abusive Acts and Practices

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The enactment of the Dodd-Frank Act in 2010 created the Consumer Financial Protection Bureau (“CFPB”) and, among other things, vested it with broad authority to enforce prohibitions on unfair, deceptive and abusive acts and...more

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