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FCC targets fraudulent robocalls with new call blocking rules

The FCC has issued a Report and Order and Further Notice of Proposed Rulemaking (Order) adopting new rules to allow voice service providers to proactively block calls from certain numbers that are suspected to be fraudulent....more

ED rebuffs Congressional plea to reinstate terminated CFPB MOUs

The Department of Education (ED) has apparently declined a request by 39 members of Congress to reinstate the Memoranda of Understanding (MOUs) between ED and the CFPB. ...more

FRB hosts 2017 interagency fair lending panel

The FRB recently hosted a fair lending “hot topics” webinar in conjunction the DOJ, HUD, CFPB, FDIC, OCC, and NCUA. The seven agencies discussed fair lending developments, including the revised HMDA reporting requirements,...more

California and Washington, D.C. issue student loan servicing regulations

California and the District of Columbia have recently released regulations under their respective student loan servicing laws. Each is taking comments on its regulations, but whereas California has merely issued proposed...more

Director Cordray Invites Secretary DeVos to Resurrect CFPB-ED Cooperation

Consumer Financial Protection Bureau (CFPB) Director Richard Cordray has responded to the letter from the Department of Education (ED) terminating the Memoranda of Understanding (MOUs) between the agencies....more

ED Rebukes CFPB “Abuse” with Termination of MOUs, Announces Expansion of Internal Oversight

The Department of Education (ED) recently delivered a letter to the Consumer Financial Protection Bureau (CFPB) providing notice of its intent to terminate the Memoranda of Understanding (MOUs) between the agencies. The...more

State AGs seek injunction against Dept. of Education postponement of the Borrower Defense Rule; DeVos continues “regulatory reset”...

Eighteen states and the District of Columbia have filed suit against Secretary of Education Betsy DeVos seeking an injunction of the Department of Education’s indefinite postponement of the Obama Administration’s Borrower...more

Proposed Consumer Contracts Restatement Critiqued at ALI Annual Meeting

At the American Law Institute (ALI) annual meeting in Washington, DC on May 22-24th, members had the opportunity to review a discussion draft of the Restatement of the Law Third, Consumer Contracts. The draft is the result...more

Ninth Circuit affirms tribal lenders subject to CFPB investigative demands

The Ninth Circuit recently issued its opinion in CFPB v. Great Plains Lending, LLC, et al., in which three tribal-affiliated, for-profit lending companies (“Tribal Lenders”) challenged the authority of the CFPB to issue civil...more

DOJ Files Redlining Lawsuit Against KleinBank

The U.S. Department of Justice (DOJ) recently commenced a redlining lawsuit against KleinBank, a state-chartered Minnesota bank subject to the regulatory authority of the Federal Deposit Insurance Corporation (FDIC). The...more

Letter Warning of Lien Recordation Subject to FDCPA, Ninth Circuit Holds

A law firm's letter, warning that a lien would be recorded against a woman's home if she failed to pay her annual homeowners association fees, is not exempt from the Fair Debt Collection Practices Act (FDCPA) as an attempt to...more

FCC Ruling Clarifies TCPA for Schools and Utilities

The Federal Communications Commission (FCC) has issued a Declaratory Ruling clarifying the application of the Telephone Consumer Protection Act (TCPA) to communications from schools and utilities. Specifically, the Ruling...more

CFPB Releases Debt Collection Industry Study

On July 28, the CFPB held a field hearing about debt collection in Sacramento, California coinciding with the release of an outline of the proposals it is considering in connection with its debt collection rulemaking....more

Supreme Court Denies Certiorari To Review Second Circuit’s Decision in Madden v. Midland Funding, LLC

The U.S. Supreme Court has denied certiorari to review the decision of the U.S. Court of Appeals for the Second Circuit in Madden v. Midland Funding, LLC. As previously reported, Madden involved a putative class action...more

CFPB publishes annual CARD Act, HOEPA and QM adjustments, corrects 2016 error

The CFPB has published a final rule regarding various annual adjustments it is required to make under provisions of Regulation Z (TILA) that implement the CARD Act, HOEPA, and the ability to repay/qualified mortgage...more

House Financial Services Committee Scrutinizes Basis of Proposed CFPB Arbitration Rule

On Wednesday May 18, 2016, the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit held a hearing entitled “Examining the CFPB’s Proposed Rulemaking on Arbitration: Is it in the...more

“Human Intervention” Precludes ATDS Classification under New FCC TCPA Order, California Federal District Court Holds

In a memorandum opinion, the U.S. District Court for the Central District of California recently held that the defendant’s manual use of a desktop telephone was not subject to liability under the new Federal Communications...more

CFPB, DOE, Treasury Issue Joint Statement on Student Loan Servicing

A new Joint Statement issued by the Consumer Financial Protection Bureau, Department of Education, and Department of the Treasury presents a framework to standardize student loan servicing practices across the various federal...more

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