News & Analysis as of

Time-Barred Debt Financial Institutions

Adams and Reese LLP

Consumer Financial Protection Bureau Issues “Zombie Mortgage” Advisory Opinion

Adams and Reese LLP on

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

Perkins Coie

Strict Liability for Debt Collectors Attempting to Collect a Time-Barred Debt Through Litigation

Perkins Coie on

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

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2020

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

Carlton Fields

Sixth Circuit Finds District Court Erred In Ruling On Arbitration Waiver Issue Where Issues As To Arbitrability Were Reserved For...

Carlton Fields on

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

Ballard Spahr LLP

Supreme Court to Resolve Circuit Split Over Filing Bankruptcy Proof of Claim on Time-Barred Debt

Ballard Spahr LLP on

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

Ballard Spahr LLP

4th Circuit: Filing Proof of Claim on Time-Barred Debt Did Not Violate FDCPA

Ballard Spahr LLP on

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

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

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

Ballard Spahr LLP

CFPB previews debt collection rule in SBREFA outline

Ballard Spahr LLP on

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

Ballard Spahr LLP on

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

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