News & Analysis as of

Debt Collection Regulatory Agenda

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Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week... ...more

Ballard Spahr LLP

Plaintiffs declare that Fort Worth Chamber is the CFPB’s “natural adversary” in their opposition brief to the CFPB’s motion to...

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On August 12, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dismiss Plaintiff Fort Worth Chamber of Commerce (Fort Worth Chamber) for lack of standing and if granted, transfer the case to the...more

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Plaintiffs file their brief in opposition to CFPB’s motion to dissolve the preliminary injunction in the credit card late fee...

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On August 8, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dissolve the preliminary injunction in the lawsuit challenging the CFPB’s credit card late fee final rule (“Rule”). In their brief, the...more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - August 2024

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2024 # 5

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Ballard Spahr LLP

CFPB files motion to dismiss Fort Worth Chamber of Commerce for lack of standing and if granted, renews its motion to transfer the...

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On July 29, 2024, the CFPB filed a motion to dismiss the Fort Worth Chamber of Commerce as a Plaintiff for lack of standing and if granted, transfer the case to a the Federal District Court for D.C. In its brief, the CFPB...more

Ballard Spahr LLP

Judge Pittman (N.D. Texas) questions whether Fort Worth Chamber of Commerce has standing to pursue claims seeking to invalidate...

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We recently reported that on July 18 the CFPB, upon remand from the Fifth Circuit, re-filed its notice of supplemental authority in support of its motion to dismiss or transfer the case, motion to dissolve the preliminary...more

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CFPB Moves to Dissolve Preliminary Injunction and Supplements Motion to Transfer in Credit Card Late Fee Rule Case; Court...

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Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a brief in the U.S. District Court for the Northern District of Texas in support of its motion to dissolve the preliminary injunction that has stayed...more

Ballard Spahr LLP

CFPB Refiles its Notice of Supplemental Authority in Support of its Motion to Transfer Venue under Section 1406(a) and Motion and...

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On July 18, 2024, in the lawsuit challenging the CFPB’s credit card late fee rule (Rule), the CFPB refiled its notice of supplemental authority in support of its motion to dismiss or transfer the case, motion to dissolve the...more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Manatt, Phelps & Phillips, LLP

North Carolina’s New Plan to Relieve Medical Debt

On July 1, North Carolina announced a new plan to relieve past medical debt for low- and middle-income consumers and mitigate the impact of medical debt going forward. Under the proposal, hospitals that choose to implement...more

Ballard Spahr LLP

Fifth Circuit issues mandate in connection with its order reversing District Court’s order transferring venue to DC District Court...

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On July 11, 2024, the CFPB filed its unopposed Motion for the Immediate Issuance of the Mandate, the CFPB stated that they do not intend to seek a rehearing before the same panel or en banc and requested the Fifth Circuit to...more

Ballard Spahr LLP

CFPB Isn’t Seeking a Rehearing and Petitions Fifth Circuit to Forthwith Issue Mandate in connection with the Writ of Mandamus...

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On July 11, 2024, the CFPB filed Respondent’s Motion for the Immediate Issuance of the Mandate. In the motion, the CFPB states that they do not plan to seek a rehearing before the same Fifth Circuit or En Banc and requests...more

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Fifth Circuit Rules CFPB Credit Card Late Fee Rule Case Stays in Texas

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On June 18, the Fifth Circuit Court of Appeals granted the plaintiffs’ petition for a writ of mandamus, effectively halting the transfer of the lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB or Bureau)...more

Ballard Spahr LLP

CFPB issues proposal to prohibit use of medical debt information in credit decisions

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The steady drumbeat of steps during Rohit Chopra’s tenure as CFPB Director to call into question the reliability and predictability of medical debt information in credit underwriting reached a crescendo last week with the...more

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CFPB Proposed Rule Banning Reporting of Medical Debt

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On June 11, the Consumer Financial Protection Bureau (CFPB or Bureau) released a proposed rule amending Regulation V, which implements the Fair Credit Reporting Act (FCRA), concerning medical debt. The proposed rule would...more

Ballard Spahr LLP

Transfer Redux: Once again, CFPB Late Fee litigation transferred from Texas to DC, transfer challenged in Fifth Circuit

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In a replay of earlier events, in response to an emergency petition for writ of mandamus and administrative stay of transfer filed by the plaintiffs in the lawsuit challenging the legality of the CFPB’s credit card late fee...more

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Illinois Passes Legislation to Ban Reporting of Medical Debt

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On May 16, the Illinois legislature passed Senate Bill (SB) 2933. The bill amends the Illinois Consumer Fraud and Deceptive Business Practices Act making it unlawful for a consumer reporting agency (CRA) to create a consumer...more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - May 2024 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

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Minnesota House Passes Key Provisions of Debt Fairness Act

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On April 15, the Minnesota House of Representatives passed the Commerce Policy Omnibus bill, which includes key provisions of the Minnesota Debt Fairness Act. Minnesota AG Keith Ellison supports this bill and celebrated its...more

Ballard Spahr LLP

Texas federal district court reopens lawsuit challenging CFPB final credit card late fee rule and notifies D.D.C. to disregard...

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Monday, the Texas federal district court entered an order reopening the case challenging the CFPB’s final credit card late fee rule (Rule) which it had transferred to the U.S. District Court for the District of Columbia and...more

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California Proposes Amending State FDCPA to Cover Small Business Debt

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The California Senate Banking and Financial Institutions Committee is currently considering Senate Bill (SB) 1286, which would expand the scope of the Rosenthal Fair Debt Collection Practices Act (RFDCPA) to also prohibit...more

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Fifth Circuit Reverses Transfer of Credit Card Late Fee Rule Lawsuit to D.C.

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On April 5, the U.S. Court of Appeals for the Fifth Circuit issued an order effectively reversing the district court’s decision to transfer the lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB or Bureau)...more

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