We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more
2/17/2025
/ Automotive Loans ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Enforcement Actions ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Regulatory Agenda ,
Regulatory Requirements ,
TCPA ,
UDAAP ,
Uniform Commercial Code (UCC)
Can the Foreclosure Abuse Prevention Act (FAPA) be applied retroactively? Unfortunately, mortgage noteholders lack a clear response....more
Mindful of the impending retirement of many millions of investors in the “baby boomer” generation, which hold a substantial amount of the world’s wealth, the Financial Industry Regulatory Authority (FINRA) continues to...more
6/23/2023
/ Arbitration ,
Consumer Financial Products ,
Elder Issues ,
Enforcement Actions ,
Exploitation ,
Financial Adviser ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Financial Transactions ,
Investment ,
Investment Management ,
Vulnerable Victims
As any Wall Street litigator knows, in the securities industry, it is typical for brokerage firms to incentivize their employed financial advisers with significant upfront compensation at the beginning of a relationship or...more
The U.S. House of Representatives has introduced a bill, H.R. 1773, that seeks to amend the Fair Debt Collection Practices Act (FDCPA). The proposed amendment would include a two-year bar on the collection of medical debts...more
According to the district court for the District of Massachusetts, debt collectors may be found in violation of § 1692g(a)(3) of the Fair Debt Collection Practices Act (FDCPA) when sending debt collection letters requiring...more
Creditors and debt collectors may rest assured that they are not violating the Fair Debt Collection Practices Act (FDCPA) when sending debt-collection communications prior to any knowledge of a debtor’s bankruptcy filing. In...more