In this article, we share a timeline of our monthly "bites" for 2023 applicable to debt collection. If debt collection in 2023 had a theme it would be medical debt....more
2/1/2024
/ Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Debt Collection ,
Debt Collectors ,
Enforcement ,
Enforcement Actions ,
FDCPA ,
Financial Services Industry ,
Loan Servicing ,
Medical Debt ,
Mortgages ,
Payday Loans ,
Rulemaking Process ,
Student Loans ,
UDAAP
In this month's article, we share some of our top "bites" for the prior month covered during the August 2023 webinar.
Bite 1: CFPB Publishes Report on Employer-Driven Debt -
On July 20, 2023, the CFPB published a...more
8/18/2023
/ Automotive Loans ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Data Brokers ,
Fair Credit Reporting Act (FCRA) ,
Housing Market ,
Landlords ,
Loan Servicer ,
Payday Loans ,
Rent-to-Own Companies ,
Rental Property ,
Residential Leases ,
Small Business ,
Small Business Loans ,
Tenants ,
UDAAP ,
Unfair or Deceptive Trade Practices
In this article, we share a timeline of our monthly "bites" for 2022 applicable to small-dollar lending.
So, what happened in 2022?...more
1/20/2023
/ Algorithms ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Reports ,
ECOA ,
Enforcement Actions ,
Enforcement Priorities ,
Fair Lending ,
Financial Services Industry ,
Payday Loans ,
Small Dollar Lenders ,
UDAAP
During the past year, small-dollar lenders learned the fate of the Consumer Financial Protection Bureau’s (“CFPB”) final rulemaking addressing payday, vehicle title, and certain high-cost installment loans. In addition, the...more
So, what happened at the CFPB in the past month?
Bite #10 - An appeals court vacated the CFPB's award against two mortgage relief companies and their attorneys.
Back in 2014, the CFPB brought an action against two legal...more
10/21/2021
/ Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Coronavirus/COVID-19 ,
Debt Collection ,
Debt Collectors ,
Debt-Relief Industry ,
Financial Services Industry ,
Payday Loans ,
Reverse Mortgages ,
Telemarketing Sales Rule
[co-author: Hurshell K. Brown - Beyond Finance, LLC]
INTRODUCTION -
Small-dollar lenders waited through most of 2020 for the Consumer Financial Protection Bureau’s (“CFPB’s”) final rulemaking addressing payday, vehicle...more
We recently wrote about the Consumer Financial Protection Bureau's November 2020 advisory opinion regarding earned wage access (EWA) programs. In that opinion, the CFPB determined that earned wage access programs — when...more
On November 30, 2020, the Consumer Financial Protection Bureau released an advisory opinion concerning earned wage access ("EWA") products. The opinion was released as a sort of "launch day bonus" for the release of the...more
Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. In this month's article, we share our top "bites" covered during...more
11/20/2020
/ Confidential Information ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Credit Reports ,
Debt Collectors ,
Debt-Relief Industry ,
Disclosure Requirements ,
FDCPA ,
Final Rules ,
Financial Services Industry ,
HMDA ,
No-Action Letters ,
Payday Loans ,
Small Dollar Lenders ,
Telemarketing Sales Rule
During the past year, many small dollar lenders operated under looming rulemaking from the Bureau of Consumer Financial Protection (“CFPB”), which threatened elimination of their businesses. This survey reviews small dollar...more