On December 18, 2020, the CFPB published the remainder of its Final Debt Collection Rule (the “Rule”) highlighting its crown jewel - the provisions centering around debt validation notices. While the bulk of Part 2...more
Just four days after the U.S. Supreme Court heard oral arguments in Obduskey v. McCarthy & Holthus LLP regarding whether non-judicial foreclosures qualify as debt collection under the FDCPA, the Sixth Circuit doubled down on...more
District Court Takes Expansive View of Deceptive or Misleading Practices under FDCPA -
The FDCPA prohibits a debt collector from using "any false, deceptive, or misleading representation" in connection with the collection...more
5/11/2018
/ Administrative Appointments ,
Article III ,
ATDS ,
Collection Agencies ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Debt Collection ,
Disclosure Requirements ,
FCC ,
FDCPA ,
Fees ,
Financial Services Industry ,
Foreclosure ,
Interest Accrual ,
Proposed Legislation ,
Safe Harbors ,
Strategic Enforcement Plan ,
TCPA ,
Unfair or Deceptive Trade Practices
The Seventh Circuit recently joined the Fourth and Ninth Circuits in holding that a debt collection discharges its obligation as to debt validation by verifying that its letters accurately conveyed the information received...more
The Seventh Circuit has held that a voice mail message left for a consumer is a “communication” under the FDCPA. In Hart v. Credit Control, LLC, 2017 U.S. App. LEXIS 18375 (11th Cir. Sept, 22, 2017), the debt collector left...more
The juxtaposition of Sections 1692e and 1692g continues to be a battle ground for the consumer bar and collection industry. Section 1692e prohibits false, deceptive or misleading representations in connection with the...more
Mortgage servicers need to carefully review their Transfer Notices when the debt is in default at the time of transfer. In an unpublished decision, the Eastern District of New York recently held that a “Notice of Servicing...more
7/12/2017
/ Banking Sector ,
Debt Collection ,
Disclosure Requirements ,
FDCPA ,
Financial Services Industry ,
Interest Rates ,
Mortgage Servicers ,
Mortgages ,
Motion to Dismiss ,
Principal Balance ,
Transfer of Interest
A district court from New York recently ruled that even assuming a creditor’s initial TILA disclosures falls short under the statutory requirements, the plaintiff must show an injury in fact in order to have standing under...more
3/13/2017
/ Article III ,
Consumer Lenders ,
Credit Cards ,
Disclosure Requirements ,
Fees ,
Financial Institutions ,
Injury-in-Fact ,
Motion to Dismiss ,
Retailers ,
Standing ,
Truth in Lending Act (TILA)
A district court from New York recently ruled that even assuming a creditor’s initial TILA disclosures fell short under the statutory requirements, the plaintiff must show an injury in fact in order to have standing under...more
2/3/2017
/ Article III ,
Banking Sector ,
Comenity Bank ,
Credit Cards ,
Disclosure Requirements ,
Fees ,
Injury-in-Fact ,
Lenders ,
Motion to Dismiss ,
Nordstrom Inc. ,
Retail Market ,
Retailers ,
Standing ,
Truth in Lending Act (TILA)
Marketing practices remain at the forefront of CFPB activity as evidenced by two recent consent orders entered into with TransUnion and Equifax. The consent orders combine to require the CRAs to pay more than $17.6 million...more
1/17/2017
/ Advertising ,
Civil Monetary Penalty ,
Compliance Management Systems ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reporting Agencies ,
Disclosure Requirements ,
Equifax ,
Failure To Disclose ,
Informed Consent ,
Marketing ,
Restitution ,
TransUnion ,
UDAAP