News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Fair Credit Reporting Act (FCRA) Fair Debt Collection Practices Act

Troutman Pepper

August 2024 Consumer Litigation Filings: Everything Up for Month and YTD

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

Bradley Arant Boult Cummings LLP

CFPB Submits Proposed Order Banning Navient from Federal Student Loan Servicing and Orders the Company to Pay $120 Million for...

On September 12, 2024, the Consumer Financial Protection Bureau (CFPB) filed a stipulated proposed order in its suit against the student loan servicer Navient, formerly known as Sallie Mae. If entered, the order will resolve...more

Orrick, Herrington & Sutcliffe LLP

CFPB to ban servicer from federal student loan servicing and pay $120M

On November 12, the CFPB filed a proposed stipulated final judgment and order against a student loan servicer (the defendant) for alleged violations of the CFPA, the FCRA and the FDCPA. As previously covered by InfoBytes, the...more

Goodwin

CFPB Permanently Bans Large Student Loan Servicer from Market and Orders Redress of $120 Million

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On September 12, 2024, the CFPB announced that it entered into a stipulated proposed order with a large student loan servicer resolving allegations that the servicer forced borrowers into costly repayment options.​ Under the...more

Troutman Pepper

July 2024 Consumer Litigation Filings: Mixed Results for Month, Up YTD

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According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA) and Telephone Consumer Protection Act (TCPA) were down for the month of July, but filings the under Fair Debt Collection...more

Wiley Rein LLP

Wiley Consumer Protection Download (September 17, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Hudson Cook, LLP

Nonbank Student Loan Servicer Agrees to a CFPB-Imposed Ban and to Pay $120 Million

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After more than seven years of litigation, on September 12, 2024, the CFPB filed the Stipulated Order reflecting its settlement with the Company over alleged violations of the CFPA, FCRA, and FDCPA....more

Troutman Pepper

June 2024 Consumer Litigation Filings: Down for Month, Up YTD

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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

Venable LLP

CFPB to Launch Registry of Nonbank Enforcement Actions

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In a move that's sure to make nonbank financial institutions even more uncomfortable, the Consumer Financial Protection Bureau (CFPB) has decided to shine a brighter light on those that have been alleged to violate consumer...more

Troutman Pepper

April 2024 Consumer Litigation Filings: Trending Up for Most

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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) and complaints filed with the Consumer Financial Protection Bureau (CFPB) were...more

Troutman Pepper

March 2024 Consumer Litigation Filings: Mixed Bag for New Filings, Complaints Still Up YTD

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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) were down for the month of March while court filings under the Telephone...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 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

Troutman Pepper

General Counsel of the CFPB Delivers Remarks Focusing on Medical Collections and Tenant Screening

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In a recent speech at the National Consumer Law Center/National Association of Consumer Advocates Spring Training, Seth Frotman, General Counsel of the Consumer Financial Protection Bureau (CFPB or Bureau), focused on medical...more

Troutman Pepper

February 2024 Consumer Litigation Filings: Mixed Bag for New Filings

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According to a recent report by WebRecon, court filings under the Fair Debt Collection Practices Act (FDCPA) and Telephone Consumer Protection Act (TCPA) were down for the month of February while court filings under the Fair...more

Troutman Pepper

January Consumer Litigation Filings: Everything Way Up

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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), Telephone Consumer Protection Act (TCPA), and complaints filed with the Consumer...more

Goodwin

2023 Year in Review: Major U.S. Supreme Court and Appellate Cases

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Welcome to the Major US Supreme Court and Appellate Cases chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - The Supreme Court continues to take a close look at major...more

Goodwin

2023 Year in Review: Credit Reporting

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Welcome to the Credit Reporting chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - The CFPB’s announcement of a proposed rulemaking to remove medical bills from...more

Troutman Pepper

Year-End Report Reveals Increased TCPA Filings and CFPB Complaints in 2023

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According to a recent year-in-review report by WebRecon, reversing the trend of the last two years, filings under the Telephone Consumer Protection Act (TCPA) increased in 2023 as compared to 2022. Likewise, complaints filed...more

Sheppard Mullin Richter & Hampton LLP

CFPB Brings String of Enforcement Actions to Round Out 2023

In December, the CFPB brought a series of three separate enforcement actions against several financial services companies alleging a range of violations of federal consumer protections laws....more

Ballard Spahr LLP

CFPB files amicus briefs in FDCPA case and also files amicus brief in FCRA case jointly with FTC

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The CFPB recently filed two amicus briefs, one in a First Circuit case involving the Fair Debt Collection Practices Act (FDCPA) and the other, which was filed jointly with the Federal Trade Commission, in a Fourth Circuit...more

Orrick, Herrington & Sutcliffe LLP

CFPB fines and shuts down debt collector for alleged FDCPA, FCRA violations

On December 15, the CFPB announced a consent order against a Pennsylvania-based nonbank medical debt collection company for alleged violations of the FCRA and FDCPA. ...more

Ballard Spahr LLP

CFPB enters into consent order with third-party collector of medical debts to resolve alleged FCRA and FDCPA violations

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The CFPB announced last week that it has entered into a consent order with Commonwealth Financial Systems, Inc. (Commonwealth), a third-party debt collection company that collects past-due medical debts and furnishes...more

Burr & Forman

The State of CFPB Focus on Credit Reporting of Medical Debt

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The COVID-19 pandemic's impact on medical debt has spurred the Consumer Financial Protection Bureau into action, particularly as it relates to the credit reporting of medical debt. Since 2020, the CFPB has received a steadily...more

Hudson Cook, LLP

CFPB Imposes Industry Ban on Medical Debt Collector

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On December 15, 2023, the CFPB announced a settlement with a medical debt collector to resolve allegations that it violated the Fair Credit Reporting Act ("FCRA"), its implementing Regulation V, the Fair Debt Collection...more

Troutman Pepper

New York Bans Reporting of Medical Debt Effective Immediately

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On December 13, New York Governor Kathy Hochul signed into law S4907A, which prohibits hospitals, medical providers, or ambulance services from providing negative information about medical debt to consumer reporting agencies...more

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