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Disclosure Requirements Debt Collection

Sheppard Mullin Richter & Hampton LLP

Vermont Enacts Law Prohibiting Medical Debt Reporting and Funding Debt Relief Initiative

On May 16, Vermont Governor Phil Scott signed into law S. 27, a medical debt relief measure that prohibits the inclusion of medical debt on consumer credit reports and establishes a state-funded initiative to abolish...more

Whiteford

Client Alert: 2025 Virginia Legislative Updates for Common Interest Communities

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The Virginia General Assembly approved a number of bills during its 2025 legislative session. Some of the bills impact, directly or indirectly, common interest communities. The Governor of Virginia signed the following bills...more

Sheppard Mullin Richter & Hampton LLP

Indiana Enacts Earned Wage Access Law 

On May 6, Indiana Governor Mike Braun signed House Enrolled Act No. 1125 into law, making Indiana the latest state to enact a statutory framework for regulating earned wage access (EWA) products. The Indiana Earned Wage...more

Sheppard Mullin Richter & Hampton LLP

Utah and Arkansas Enact Earned Wage Access Regulations

Utah and Arkansas have enacted new legislation governing earned wage access (EWA) services, establishing state-level registration obligations and consumer protection standards. Both laws clarify that EWA services are not...more

Troutman Pepper Locke

Arkansas Passes Earned Wage Access Services Act

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On March 20, the Arkansas governor signed into law Arkansas Act 347, known as the Earned Wage Access Services Act. Sponsored by Representative David Ray (R) and Senator Ben Gilmore (R), this legislation aims to regulate...more

Troutman Pepper Locke

Washington AG Accuses Collection Agency of Violating Notice Requirement for Collecting Medical Debt

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The Washington State Attorney General’s (AG) Office filed a lawsuit against Renton Collections Inc., accusing the company of violating Washington’s Collection Agency Act by failing to include certain disclosures in their...more

Husch Blackwell LLP

Alternative Commercial Finance Monthly | January 2025

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As we step into a new year, we’re excited to introduce a fresh look for our Alternative Commercial Finance blog. Alongside a new monthly publication schedule, we’ll be placing a stronger emphasis on upcoming laws,...more

Hudson Cook, LLP

Featuring BizFinLaw - November 2024

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In Texas Bankers Association v. Consumer Financial Protection Bureau, the U.S. District Court for the Southern District of Texas denied a summary judgment motion by the Texas Bankers Association and other plaintiffs to set...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024 #4

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Cozen O'Connor

The State AG Report – 3.21.2024

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Wisconsin Shows Timeshare Exit Company the Exit - ...more

Hinshaw & Culbertson - Consumer Crossroads

New York City Department of Consumer and Worker Protection Issues Proposed Amendments to its Rules Relating to Debt Collectors

In September, the New York City Department of Consumer and Worker Protection (DCWP) requested comment on proposed amendments to its rules relating to debt collectors, which could significantly change the requirements and...more

Shipkevich PLLC

CFPB Proposes Order in Massive Action Against Debt Collection Company

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On March 23, 2023, the Consumer Financial Protection Bureau (CFPB) has taken action against one of the largest debt collectors in the United States, Portfolio Recovery Associates (PRA), for various violations of law,...more

Ballard Spahr LLP

NYDFS proposes amendments to debt collection regulation

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On October 29, the New York Department of Financial Services issued proposed amendments to 23 NYCRR 1, its regulation titled “Debt Collection by Third-Party Debt Collectors and Debt Buyers.” The proposed amendments would...more

Goodwin

CFPB Releases New Compliance Aid

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In This Issue. The Consumer Financial Protection Bureau (CFPB) released a new Compliance Aid; the U.S. Securities and Exchange Commission (SEC) proposed amendments to Form N-PX with the goal of making it easier and more...more

Hogan Lovells

New German Legal Tech Act

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On Friday, 1 October 2021, the German Act to Promote Consumer-Oriented Offers in the Legal Services Market [Gesetz zur Förderung verbrauchergerechter Angebote im Rechtsdienstleistungsmarkt – so called "Legal Tech Act"] enters...more

Goodwin

CFPB Decides Not To Delay Debt Collection Rules

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On July 30, 2021, the Consumer Financial Protection Bureau (CFPB) announced that two final rules issued under the Fair Debt Collection Practices Act (FDCPA) will take effect as originally planned, on November 30, 2021,...more

Sheppard Mullin Richter & Hampton LLP

CFPB Confirms November 30 Effective Date for Debt Collection Final Rules

The CFPB recently announced that its two final debt collection rules implementing the Fair Debt Collection Practices Act (FDCPA) will take effect as planned on November 30. The CFPB had previously proposed extending the final...more

Burr & Forman

Second Circuit Holds Debt Collector Did Not Need to Include Interest Disclosure in Settlement Offer

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In its 2016 decision in Avila v. Riexinger & Associates, LLC, the Second Circuit Court of Appeals held that an attempt to collect a debt that states the current balance owed but does not disclose whether interest and fees are...more

Burr & Forman

Rehearing Sought in Federal Appeals Court Ruling on Use of Mailing Vendors by Debt Collectors

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The ruling by the Eleventh Circuit Court of Appeals in Richard Hunstein v. Preferred Collection and Management Services, Inc. raises significant concerns for debt collectors who use vendors for mailing and other types of...more

Cozen O'Connor

Consumer Financial Protection Bureau Enters Eviction Fray With New Ruling Under FDCPA

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On April 19, 2021, the Consumer Financial Protection Bureau (CFPB) issued an interim final rule intended to help residential tenants facing eviction for nonpayment of rent.1 2 This rule was issued under the CFPB’s authority...more

Smith Debnam Narron Drake Saintsing & Myers,...

The CFPB Publishes the Remainder of its Final Debt Collection Rule – Here’s What You Need to Know

On December 18, 2020, the CFPB published the remainder of its Final Debt Collection Rule (the “Rule”) highlighting its crown jewel - the provisions centering around debt validation notices. While the bulk of Part 2...more

Goodwin

FDIC Finalizes Brokered Deposits and ILC Rules Ahead of the Holidays

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In this Issue. The Federal Deposit Insurance Corporation (FDIC) was busy this week, finalizing rules that modernize brokered deposits regulations, establish new standards for parent companies of industrial loan companies and...more

Goodwin

OCC Proposes Rules for CRA Benchmarks and Fair Access

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In the News. The Office of the Comptroller of the Currency (OCC) issued a long-awaited rule seeking comment on its proposed approach to determine the Community Reinvestment Act (CRA) evaluation measure benchmarks, retail...more

American Conference Institute (ACI)

[Virtual Event] 27th NATIONAL FORUM ON Residential Mortgage Regulatory Enforcement & Litigation - November 17th - 18th, 9:00 am -...

ACI’s Residential Mortgage Forum is a premier gathering of leading servicers, lenders, external counsel, and regulators engaging in dialogue on how to navigate the very complex residential mortgage enforcement and litigation...more

Troutman Pepper Locke

FDCPA Claims Based on Collection of Time-Barred Debt Claims Result in Class Settlement

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Two collection agencies agreed to new disclosure requirements when attempting to collect on time-barred debts, in a settlement agreement preliminarily approved by a United States district court judge in Texas last month. The...more

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