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Debt Collection Small Business

Troutman Pepper

California Proposes Amending State FDCPA to Cover Small Business Debt

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The California Senate Banking and Financial Institutions Committee is currently considering Senate Bill (SB) 1286, which would expand the scope of the Rosenthal Fair Debt Collection Practices Act (RFDCPA) to also prohibit...more

Pillsbury Winthrop Shaw Pittman LLP

Conflicting Court Rulings on Subchapter V Eligibility Leave Small Businesses in Limbo

Two recent bankruptcy court decisions reflect a split of authority on subchapter V eligibility. In re Macedon Consulting Inc. finds that all future amounts due under an unexpired lease qualify as “noncontingent and...more

Ballard Spahr LLP

Kentucky Federal District Court Issues Order Enjoining the CFPB From Enforcing the Small Business Data Collection Rule as to All...

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On September 14th, the Federal District Court for the Eastern District of Kentucky granted the plaintiff’s motion to preliminarily enjoin the CFPB from implementing the Small Business Lending Rule (Rule) promulgated under...more

Sheppard Mullin Richter & Hampton LLP

CFPB Signals Foray into Protecting Small Businesses from Abusive Debt Collectors

On April 15, the CFPB and FTC announced the release of a joint annual report to Congress administering the Fair Debt Collection Practices Act (FDCPA).  The annual report highlights both agencies’ efforts to protect and...more

Goodwin

SEC Division of Investment Management Ends Certain COVID-19 Relief

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In This Issue. The Securities and Exchange Commission’s (SEC) Division of Investment Management provided notice that it would terminate or withdraw certain temporary relief provided in response to the COVID-19 pandemic; the...more

Goodwin

SEC Adopts Broad Exempt Offering Reforms

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In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB’s Rulemaking Agenda Provides Glimpse into 2020

The CFPB’s 2020 Rulemaking Agenda provides a preview of the Bureau’s intended rulemaking activities for 2020. Here are the highlights of what we can look forward to in 2020: Business Lending Data (Pre-rule Stage): Under...more

Smith Debnam Narron Drake Saintsing & Myers,...

House Financial Services Committee Considers Amendments to the FDCPA

On November 14, 2019, the House Committee on Financial Services passed the following bills which would amend the federal Fair Debt Collection Practices Act and tighten consumer protections. The bills will now make their way...more

Ballard Spahr LLP

House Financial Services Committee to hold Sept. 26 hearing on abusive debt collection practices

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The Committee on Financial Services will hold a hearing entitled, “Examining Legislation to Protect Consumers and Small Business Owners from Abusive Debt Collection Practices,” on Thursday, September 26, 2019, at 10:00 a.m....more

PilieroMazza PLLC

Weekly Update Newsletter - August 2019

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FALSE CLAIMS ACT / LITIGATION / CYBERSECURITY & DATA PRIVACY - Have the Flood Gates Opened?: Cisco Settles First-Of-Its-Kind Cybersecurity False Claims Act Litigation - On July 31, 2019, a False Claims Act matter...more

Manatt, Phelps & Phillips, LLP

Forecast: Abundance of Potential New Rulemaking From the CFPB

After making headlines with its controversial arbitration rule, the embattled Consumer Financial Protection Bureau (CFPB or Bureau) released its rulemaking agenda for the rest of the year, putting financial services companies...more

Ballard Spahr LLP

CFPB issues Spring 2017 rulemaking agenda

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The CFPB’s Spring 2017 rulemaking agenda has been published as part of the Spring 2017 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more

Ballard Spahr LLP

Director Corday announces extension of comment period for small business lending RFI, restructuring of debt collection rulemaking

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In his prepared remarks for the Consumer Advisory Board meeting held on June 8, 2017, Director Cordray discussed CFPB initiatives in four areas. In addition to the CFPB’s letter to the top retail credit card companies...more

Ballard Spahr LLP

CFPB Fall 2016 rulemaking agenda published

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The CFPB’s Fall 2016 rulemaking agenda has been published as part of the Fall 2016 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more

Ballard Spahr LLP

CFPB Consumer Advisory Board to meet on Oct. 27

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The CFPB has published a notice in the Federal Register announcing that a meeting of its Consumer Advisory Board (CAB) will be held on October 27, 2016. The notice indicates that the CAB will discuss student loan...more

Bradley Arant Boult Cummings LLP

CFPBs Meeting with Community Bank Advisory Council Provides Insights into Upcoming Debt Collection Rules

Last week , the Consumer Financial Protection Bureau (CFPB) met with the Community Bank Advisory Council (CBAC) to discuss the CFPB’s July 28, 2016, outline of the proposed debt collection rules (Outline) intended to...more

Ballard Spahr LLP

Debt collection SBREFA panel meets with SERs

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It has been reported that the SBREFA panel for the CFPB’s debt collection rulemaking met last week with small entity representatives (SER).  In anticipation of convening the panel, the CFPB issued an outline of the proposals...more

Ballard Spahr LLP

GAO issues report on CFPB SBREFA panels

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The Government Accountability Office has issued a report on the CFPB’s use of Small Business Regulatory Enforcement Fairness Act (SBREFA) panels in its rulemaking process. The report, “Observations from Small Business Review...more

Stinson LLP

CFPB Presents Significant New Regulatory Requirements for Third-Party Debt Collectors

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On July 28, 2016, the Consumer Financial Protection Bureau (CFPB) released an outline of proposals and alternatives under consideration for regulating debt collection practices. The outline’s release triggers the formation of...more

Goodwin

CFPB Considering Debt Collection Reform Proposals

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On July 28, the Consumer Financial Protection Bureau (the CFPB) released a summary of proposals it is considering to reform debt collection practices. At the same time, it released a Study of Third Party Debt Collection...more

Morrison & Foerster LLP

What You Need to Know Now About the CFPB’s Debt Collection Proposal

On July 28, 2016, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued its outline of proposals under consideration for the regulation of debt collection. This 117-page release, entitled “Small Business Review...more

Ballard Spahr LLP

CFPB previews debt collection rule in SBREFA outline

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The CFPB has moved a step closer to issuing a debt collection rule by releasing an outline of the proposals it is considering in preparation for convening a small business review panel. The Small Business Regulatory...more

Ballard Spahr LLP

CFPB Previews Debt Collection Rule in SBREFA Outline

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The Consumer Financial Protection Bureau (CFPB) has moved a step closer to issuing a debt collection rule by releasing an outline of the proposals it is considering in preparation for convening a small business review panel....more

Holland & Knight LLP

CFPB Outlines Long-Awaited Debt Collection Reforms

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The Consumer Financial Protection Bureau (CFPB) released on July 28 new proposals designed to "overhaul" the practices of the debt collection industry. The proposals include sweeping changes to existing regulations, including...more

Ballard Spahr LLP

CFPB to hold July 28 debt collection field hearing

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The CFPB has announced that it will hold a field hearing about debt collection on July 28, 2016 in Sacramento, California. We expect the field hearing to coincide with the CFPB’s release of an outline of the proposals it is...more

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