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Hudson Cook, LLP

Technical Violations of State Collection Practices Laws Can Lead to Class Action Liability

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If you are reading this article, you are likely aware that a creditor collecting its own debts in its own name is not a "debt collector" under the federal Fair Debt Collection Practices Act ("FDCPA") or its implementing rule,...more

Troutman Pepper

CFPB Amicus Brief Supports FDCPA Claim for Unknowing Stay Violation

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On January 2, the Consumer Financial Protection Bureau (CFPB) filed an amicus curiae brief urging the U.S. Court of Appeals for the First Circuit to reverse a district court’s decision finding that a debt collector lacked the...more

Balch & Bingham LLP

Third Circuit Holds Creditors Should Investigate All Indirect Disputes Of Accounts On A Credit Report - (Video Transcript)

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Welcome to Balch's Consumer Finance Compass, where we'll navigate the complex regulatory sphere that is consumer finance. I'm Jason Tompkins, chair of the firm's Issues and Appeals Practice and member of the Consumer Finance...more

Smith Debnam Narron Drake Saintsing & Myers,...

Crucial Conversations All Debt Collectors Should Have with their Creditors

With the CFPB having decided to leave the effective date of the Debt Collection Rule as November 30th, the push is on for debt collectors to ensure their compliance with the Rule by that date. As debt collectors make the...more

Wiley Rein LLP

Wiley Consumer Protection Download (April 26, 2021)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

McGuireWoods LLP

What Creditors Need to Know About the Final Debt Collection Rule

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The recent final rule (the “Rule”) implementing the Fair Debt Collection Practices Act (“FDCPA”) only directly governs parties defined as “debt collectors” by the FDCPA, principally meaning those who collect delinquent debt...more

Hudson Cook, LLP

What's Missing? The CFPB's Notice of Proposed Rulemaking on Debt Collection Fails to Resolve a Number of Compliance Issues

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This article is part of a series of articles and webinars Hudson Cook will present over the coming weeks addressing the CFPB's Notice of Proposed Rulemaking on Debt Collection (the "Proposals"). While the Proposals, if...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

Hudson Cook, LLP

New(ish) Technology and the CFPB's Proposed Debt Collection Rule

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On May 7, 2019, the Consumer Financial Protection Bureau ("CFPB" or the Bureau") released its Fair Debt Collection Practices Act ("FDCPA") Notice of Proposed Rulemaking ("Proposals") and Request for Public Comment. The Bureau...more

Balch & Bingham LLP

SCOTUS’s FDCPA Opinion in Henson v. Santander: It’s Not Debt Collection When You Own It

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Yesterday, the Supreme Court of the United States issued its opinion in Henson v. Santander Consumer USA, Inc.—Justice Gorsuch’s first as a Supreme Court Justice. The question presented was whether “individuals and entities...more

Ballard Spahr LLP

CFPB urged to consider “unintended consequences” of debt collection regulations

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A new article by Todd Zywicki for the Mercatus Center at George Mason University urges the CFPB to consider the “unintended consequences” of new debt collection regulations and conduct a careful cost-benefit analysis before...more

Stinson LLP

CFPB Takes Action Against Second Indirect Auto Finance Company in Three Days

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On October 1, 2015, the Consumer Financial Protection Bureau (CFPB) announced its second enforcement action in three days against an indirect auto finance company. In its latest action, the CFPB took aim at indirect auto...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

Ballard Spahr LLP

CFPB sends debt collection questionnaire

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The CFPB has sent a questionnaire which, according to the CFPB’s accompanying cover letter, is intended to help the CFPB “better understand operational costs and other factors associated with debt collection.” The cover...more

Ballard Spahr LLP

NCLC recommends debt collection regulations to the CFPB

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In a new report entitled “Debt Collection Communications: Protecting Consumers in the Digital Age,” the National Consumer Law Center “specifies the regulations the [CFPB] should adopt regarding when, where, how, and how often...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

Ballard Spahr LLP

Consumer action letters will cause headaches for debt collectors and creditors

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Last week, the CFPB issued five action letters for consumers to use as debt collection tools. Now that we have had an opportunity to look more closely at the letters, it is apparent that the letters will cause headaches not...more

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