News & Analysis as of

Debt Collection

Ballard Spahr LLP

CFPB Private Education Loan Ombudsman receives record number of complaints

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The CFPB received about 22,900 complaints about private and federal student loans between July 1, 2024, and June 30, 2025, the highest level the Bureau has received in a one-year period, the CFPB’s Private Education Loan...more

Orrick, Herrington & Sutcliffe LLP

District Court sides with mortgage company against FDCPA, FCRA and RESPA claims

On January 26, the U.S. District Court for the Western District of Washington granted a mortgage company’s motion to dismiss claims brought by two individual plaintiffs. The plaintiffs alleged violations of the FDCPA by...more

Troutman Pepper Locke

2025 Consumer Litigation Filings: Everything Up Compared to 2024

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According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), and Telephone Consumer Protection Act (TCPA), as well as complaints filed with...more

Spilman Thomas & Battle, PLLC

Significant Changes to Student Loans Now in Effect

Last year’s enactment of the “One Big Beautiful Bill Act” (OBBBA) included significant changes to the federal student loan system. New borrowers will be impacted starting July 1, 2026, while current borrowers will see shifts...more

Hudson Cook, LLP

New York's Coerced Debt Law Remains a Work in Progress

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In mid-December New York joined a growing number of states that regulate coerced debt. The law, found in a new Article of the New York General Business Laws, will become effective on March 20th....more

Orrick, Herrington & Sutcliffe LLP

Court rules state-affiliated student loan servicer cannot claim sovereign immunity in identity theft dispute

On January 5,  the U.S. District Court for the Middle District of Florida denied a motion for judgment on the pleadings filed by a state-affiliated student loan servicer in Missouri, holding that the agency was not entitled...more

Hudson Cook, LLP

CFS Bites of the Month - 2025 Annual Review - Student Lending

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In this article, we share a timeline of monthly "bites" for the past year applicable to student lending....more

Orrick, Herrington & Sutcliffe LLP

Federal Issues, GAO, Report, FHLBanks, FHFA, Loans

Recently, the CFPB released its Semi-Annual Report to Congress, covering activities during the tenure of former CFPB Director Chopra from April 1 through September 30, 2024, unless otherwise noted. On complaints, the CFPB...more

Orrick, Herrington & Sutcliffe LLP

Treasury issues proposed revisions to the ‘Treasury Offset Program’

On December 23, the Treasury issued an NPRM in the Federal Register titled “Debt Collection Authorities Under the Debt Collection Improvement Act of 1996” proposing to revise regulations governing the Treasury Offset Program...more

Troutman Pepper Locke

New York AG Targets Monterey Finance Over Deceptive Lease-to-Own Financing

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On December 23, 2025, the New York Attorney General (AG) announced a settlement with Monterey Finance (Monterey) of approximately $2.4 million in debt relief for 835 New York consumers and $175,000 in penalties. The AG...more

Orrick, Herrington & Sutcliffe LLP

New York State enacts rights of action for coerced debt claims

On December 19, the governor of New York signed into law an act to amend the general business law, establishing a right of action for claims arising out of coerced debts. ...more

Venable LLP

Why New York City’s Consumer Regulator Belongs on National Compliance Radar

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New York City’s consumer regulator has long been part of the local compliance backdrop. It now deserves sustained, strategic attention. ...more

Orrick, Herrington & Sutcliffe LLP

Trends and Takeaways from the 2025 Credit CARD Act Report

On December 30, 2025, the CFPB published its seventh biennial Credit CARD Act report. As required by the CARD Act, the report discusses the state of the credit card market through 2024, with a particular focus on credit card...more

Shipkevich PLLC

Regulatory Alert: New York Enacts FAIR Business Practices Act, Broadening Unfair and Abusive Conduct Enforcement

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On December 19, 2025, New York enacted the Fostering Affordability and Integrity through Reasonable Business Practices Act (the “FAIR Business Practices Act” or the “Act”), representing the most significant overhaul of the...more

Mayer Brown

Illinois Revamps the Scope of its Collection Agency Licensing Law

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Illinois is making important changes to the scope of the state’s Collection Agency Act and the reach of its collection agency licensing obligation. Recent amendments to the state’s collection agency licensing law that go into...more

Troutman Pepper Locke

November 2025 Consumer Litigation Filings: Everything Down

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According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), and Telephone Consumer Protection Act (TCPA), and complaints filed with the...more

Hudson Cook, LLP

Consumer Financial Services Bites of the Month - December 2025 - "Cold December Night with the CFPB"

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In this month's article, we share some of our top "bites" covered during the December 2025 webinar....more

Troutman Pepper Locke

New York Enacts Coerced Debt Law Protecting Survivors of Economic Abuse

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On December 19, New York Governor Kathy Hochul signed Senate Bill S1353A creating a new General Business Law article on “actions involving coerced debts.” The law is aimed squarely at survivors of domestic violence,...more

Hinshaw & Culbertson - Consumer Crossroads

Minnesota Appellate Court Broadly Defines “Collection Agency” Under State Licensing Law

A recent Minnesota appellate court decision underscores how broadly courts—and regulators—can construe licensing statutes. Background - • In this case, a Utah company challenged a cease-and-desist order issued by the...more

McGuireWoods LLP

California Bans “Stay or Pay” Clauses

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Effective Jan. 1, 2026, Assembly Bill 692 (AB 692) will take effect as Section 16608 of the California Business and Professions Code. This new law will prohibit California employers from using “stay or pay” contracts that...more

Greenberg Glusker LLP

Yule Want to Fa-la-la-low Our 2026 California Employment Law Updates

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California employers face a wide range of new compliance obligations beginning in 2026, along with several major regulatory shifts that already took effect in late 2025....more

Ballard Spahr LLP

CFPB Releases Annual Report on Fair Debt Collection Practices Act (FDCPA) 

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As required by amendments to the FDCPA made by Section 1089 of Dodd Frank, the CFPB recently released its annual report to Congress on FDCPA compliance.  We note below information provided by the bureau about the complaints...more

PilieroMazza PLLC

Passport to Trouble: Court Dismisses Foreign Bank Accountholders’ Penalty Challenge

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Enforcing foreign bank account reporting requirements through penalties has been an IRS priority for several years, spawning numerous precedent-setting cases throughout the courts. In the latest such case[1], a federal...more

Orrick, Herrington & Sutcliffe LLP

Minnesota Appeals Court Affirms Broad Application of Debt Collection Licensing Requirements

Recently, the Minnesota Court of Appeals affirmed a cease-and-desist order against a Utah-based company for allegedly conducting unlicensed debt collection in Minnesota. The court held Minnesota’s collection agency statutes...more

Troutman Pepper Locke

October 2025 Consumer Litigation Filings: Another Mixed Bag, But Up Over 2024

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According to a recent report by WebRecon, court filings under the Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA) rose by double digits while litigation under Telephone Consumer Protection Act...more

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