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
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
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
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
6/28/2016
/ Banking Sector ,
Debt Buyers ,
FDCPA ,
Financial Services Industry ,
Interest Rates ,
Madden v Midland Funding ,
National Bank Act ,
Online Marketplace Lending ,
Petition for Writ of Certiorari ,
Preemption ,
Putative Class Actions ,
SCOTUS ,
Solicitor General ,
Usury
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
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
5/20/2016
/ Arbitration ,
Arbitration Agreements ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Industry ,
Legislative Committees ,
Mandatory Arbitration Clauses ,
Service Contracts
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
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
10/6/2015
/ Borrowers ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Department of Energy (DOE) ,
Federal Student Aid ,
Financial Institutions ,
Financial Regulatory Reform ,
Loans ,
Student Loans ,
U.S. Treasury