CFPB Advisory Opinion on Time-barred Debt Collection - The Consumer Finance Podcast
The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion last month to affirm that the Fair Debt Collection Practices Act (FDCPA) and its implementing Regulation F prohibit a debt collector, as that term is...more
In 2020, the Consumer Financial Protection Bureau (CFPB) promulgated 12 C.F.R. § 1006.26, amending Regulation F, to implement and interpret the Fair Debt Collection Practices Act (FDCPA). It will become effective on November...more
Federal Reserve Revises Framework for Determining Control of a Banking Organization The Federal Reserve has adopted a final rule to simplify and clarify its regulations for determining control of a banking organization for...more
The Plaintiff, Hilton, a computer purchaser, entered into a repayment agreement with Dell Financial Services, LLC, which later sold the debt to Midland Funding, to purchase a Dell computer on credit. The underlying issue in...more
The U.S. Supreme Court granted certiorari last week in Midland Funding, LLC v. Aleida Johnson, a decision of the 11th Circuit that held that Midland’s filing of a proof of claim in the plaintiff’s bankruptcy case on a...more
A debt collector did not violate the Fair Debt Collection Practices Act (FDCPA) by filing proofs of claim in bankruptcy cases on debts that were time-barred by Maryland’s statute of limitations (SOL), a divided U.S. Court of...more
Financial Industry Developments - CFTC Announces Measures to Enhance Protection of Customer Funds - On August 8, 2016, the U.S. Commodity Futures Trading Commission (CFTC) announced three separate enhancements...more
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
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