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Collection Letter Making Settlement Offer for Time-Barred Debt Can Violate FDCPA Without Legal Action Threat, Third Circuit Rules

A letter sent to collect a time-barred debt that makes a settlement offer can, even without a threat of legal action, violate the Fair Debt Collection Practices Act's (FDCPA) general prohibition against a debt collector's use...more

FTC files lawsuit against student loan debt relief companies

The FTC has filed a lawsuit in a California federal district court against three interrelated student loan debt relief companies and the individual who is their majority owner for alleged violations of Section 5 of the FTC...more

Trade groups ask Defense Dept. to rescind MLA interpretation on GAP insurance financing

Four trade groups have sent letters to the Department of Defense (DoD) asking the DoD to rescind or withdraw Question and Answer #2 (Q&A 2) from its 2016 interpretative rule for the Military Lending Act final rule (MLA Rule)...more

Seventh Circuit Rejects Use of Miller "Safe Harbor" Language When a Debt Cannot Increase

Safe harbor language is not always safe, as illustrated by a recent decision of the U.S. Court of Appeals for the Seventh Circuit Court of Appeals in Boucher v. Finance System of Green Bay....more

Dept. of Education proposes disclosure of pre-dispute arbitration agreements by schools receiving Title IV aid for student...

The Department of Education, in an issue paper submitted as part of negotiated rulemaking on its final “borrower defense” rule, is proposing to require schools that use pre-dispute arbitration agreements and class action...more

Treasury to recommend CRA changes

According to a Wall Street Journal article, the Treasury Department expects to make recommendations in early 2018 for changing Community Reinvestment Act regulations....more

Court dismisses defendants’ counterclaims against CFPB for fees and expenses

A New York federal district court dismissed the counterclaims of the defendants in a CFPB enforcement action claiming that, pursuant to the Equal Access to Justice Act (EAJA), they were entitled to fees and expenses incurred....more

Collection of ITT student debt barred in class action settlement

The saga of ITT Educational Services, Inc. appears to be drawing closer to an end, with ITT’s bankruptcy trustee and attorneys for former ITT students entering into a proposed class action settlement that would permanently...more

CFPB releases report on college credit card agreements

The CFPB released its sixth annual report to Congress on college credit card agreements.  The annual report is mandated by the CARD Act. ...more

CFPB changes tone in third biennial CARD Act report

The CFPB issued its third biennial report on the credit card market last week.  The report represents the first major report issued by the CFPB since former Director Cordray’s resignation and President Trump’s designation of...more

CFPB withdraws request to OMB to conduct online debt collection survey

The CFPB has withdrawn its request to OMB to conduct an online survey of 8,000 individuals as part of its research on debt collection disclosures. Last month, the CFPB published a notice in the Federal Register that it was...more

Federal Court Holds 30-Day Validation Notice Language Violates FDCPA

A federal district court in Pennsylvania recently granted summary judgment to a debtor in a lawsuit filed against a collection law firm under the Fair Debt Collection Practices Act (FDCPA)....more

Nice Try – Court Rebuffs Debt Collector's Attempt to Purchase Lawsuit Against Itself

A debt collector cannot avoid claims under the Fair Debt Collection Practices Act (FDCPA) by purchasing the debtor's lawsuit, according to a recent opinion from the U.S. Court of Appeals for the Ninth Circuit. ...more

CFPB submits request to conduct online debt collection survey to OMB

The CFPB has published a notice in the Federal Register that it has submitted to OMB its request to conduct an online survey of 8,000 individuals as part of its research on debt collection disclosures. Comments must be...more

OCC establishes framework for evaluating applications from banks with less than satisfactory CRA rating

In a new Policies and Procedures Manual (PPM) issuance (PPM 6300-2), the OCC establishes its framework for evaluating certain types of licensing applications when the applicant bank has an overall Community Reinvestment Act...more

Illinois lawmakers override governor’s veto of student loan servicing bill

The Illinois House of Representatives and Senate have voted to override the veto by the state’s Republican governor of Senate Bill 1351, known as the Illinois Student Loan Servicing Rights Act. ...more

Second Circuit Denies Rehearing in Key TCPA Case

Businesses that have not already done so should consult with counsel regarding "consent to be called" provisions in their consumer contracts in the wake of the decision by the U.S. Court of Appeals for the Second Circuit...more

CFPB issues 50-state snapshot of student debt

The CFPB has issued a “50-state snapshot of student debt,” which provides student debt data on a state-by-state basis. The report states that the complaint data “reflects over 50,000 student loan complaints and over 10,000...more

FTC settles Section 5 claims against company promoting schools to military servicemembers

The FTC has entered a proposed consent order with Victory Media, Inc. (VMI) to settle the FTC’s charges that VMI violated Section 5 of the FTC Act by engaging in deceptive acts or practices in connection with its promotion of...more

D.C. belatedly releases Bill of Rights for student loan borrowers

The District of Columbia Student Loan Ombudsman Establishment and Servicing Regulation Act of 2016 (Servicing Act) became effective February 18, 2017. The Servicing Act set an October 1 deadline for the Student Loan...more

PA banking regulator reiterates licensing guidance for fintech companies

Earlier this month, the Pennsylvania Department of Banking and Securities issued a letter to “all persons engaged in activity regulated or licensed by the [Department] regardless of the means of delivery of such regulated...more

CFPB Student Loan Ombudsman issues sixth annual report

The CFPB has released the sixth annual report of the CFPB Student Loan Ombudsman containing an analysis of approximately 12,900 federal student loan complaints, 7,700 private student loan complaints, and 2,300 debt collection...more

FTC announces coordinated enforcement initiative with state AGs targeting student loan debt relief providers

Last Friday, as expected, the FTC announced the launch of a coordinated federal-state law enforcement initiative targeting deceptive student loan debt relief companies. ...more

FTC targets student loan debt relief companies

A recent flurry of FTC enforcement activity targeting companies offering student loan debt relief services suggests such companies could be the subject of the announcement scheduled for tomorrow “of a major coordinated...more

DOJ Issues Annual Report To Congress On 2016 ECOA/FHA/SCRA Enforcement Activities

The Department of Justice’s Civil Rights Division has issued its annual report to Congress regarding its activities to enforce the ECOA, FHA and SCRA. The report covers 2016 activities that would have taken place under the...more

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