Our blog post series has detailed a number of ways in which the CFPB’s final debt collection rule departs from last year’s NPRM. There are two additional topics approached very differently in the final rule: (1) the proposed...more
On September 29, the CFPB, in partnership with the FTC and numerous federal and state law enforcement agencies, announced a nationwide effort addressing “phantom debt collection” and abusive and threatening debt collection...more
On September 29, the CFPB, in partnership with the FTC and numerous federal and state law enforcement agencies, announced a nationwide effort addressing “phantom debt collection” and abusive and threatening debt collection...more
Last week, the CFPB announced that that it had entered into a consent order with an Illinois-based debt collection company. According to the settlement, the company’s business consists primarily of purchasing and then...more
9/4/2019
/ Civil Monetary Penalty ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Debt Buyers ,
Debt Collection ,
Debt Collectors ,
Enforcement Actions ,
FDCPA ,
Financial Services Industry ,
Misrepresentation ,
Restitution ,
UDAAP ,
Unfair or Deceptive Trade Practices
Earlier this week the CFPB released its Summer 2017 Supervisory Highlights, which covers supervisory activities generally completed between January through June of 2017. The report touts the $14 million total restitution...more
9/15/2017
/ Automotive Loans ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Debt Collection ,
Financial Services Industry ,
Loans ,
Mortgage Loan Originators ,
Regulation E ,
Supervisory Highlights ,
UDAAP
On July 19, the Federal Trade Commission will hold a workshop in San Antonio titled the “2017 Military Consumer Financial Workshop: Protecting Those Who Protect Our Nation.” The FTC has uploaded an agenda and list of...more
6/23/2017
/ Automotive Loans ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Federal Trade Commission (FTC) ,
Financial Fraud ,
Financial Literacy ,
Financial Services Industry ,
Military Service Members ,
Student Loans ,
Veterans