The Consumer Financial Protection Bureau (CFPB) on July 10, 2024, announced a proposed rule that would require servicers to more intently assist borrowers throughout a "loss mitigation review cycle" before being permitted to...more
7/25/2024
/ Borrowers ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Default ,
Financial Distress ,
Forbearance Agreements ,
Foreclosure ,
Interim Final Rules (IFR) ,
Loss Mitigation ,
Mortgage Servicers ,
Mortgages ,
Proposed Amendments ,
Regulation X ,
Regulatory History ,
RESPA
A lengthy decision recently issued by the U.S. District Court for the Eastern District of Pennsylvania, Pennsylvania by Shapiro v. Mariner Fin., LLC, No. CV 22-3253, 2024 WL 169654 (E.D. Pa. Jan. 12, 2024) (Hodge, J.), may...more
2/23/2024
/ Add-ons ,
Banking Regulators ,
Compliance ,
Constitutional Challenges ,
Consumer Financial Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Enforcement Authority ,
Financial Institutions ,
Financial Services Industry ,
Interest Rates ,
Policies and Procedures ,
Refinancing ,
State Attorneys General ,
Tenth Amendment
New York Gov. Kathy Hochul signed Senate Bill 7780 on Feb. 25, 2022. The new law makes significant updates to Senate Bill 1780C, the prior RON bill. ...more
New York Gov. Kathy Hochul signed Senate Bill 1780C on Dec. 22, 2021, which allows the state's notaries to conduct remote online notarizations (RON). The law is slated to be effective on June 20, 2022. New York joins more...more
Following the U.S. Supreme Court's decision in AMG Capital Management, LLC v. FTC, the Federal Trade Commission's (FTC) new leadership is testing a different, more aggressive and creative tactic regarding civil penalties to...more
10/29/2021
/ Advertising ,
AMG Capital Management LLC v FTC ,
Endorsements ,
Enforcement Guidance ,
False Advertising ,
Federal Trade Commission (FTC) ,
FTC Act ,
New Guidance ,
Notice of Violation ,
Online Advertisements ,
Online Reviews ,
Social Media ,
Social Media Policy ,
Statutory Authority ,
Testimonial Statements
Holland & Knight hosted Dama Brown, the former Regional Director of the Federal Trade Commission's (FTC) Southwest Region, for a webinar presentation on Aug. 11, 2021. During the interview, Holland & Knight Partner Anthony...more
8/25/2021
/ Artificial Intelligence ,
Best Practices ,
Biden Administration ,
Compliance ,
Consumer Complaint Database ,
Consumer Complaint System ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Coronavirus/COVID-19 ,
Enforcement ,
Enforcement Authority ,
Federal Trade Commission (FTC) ,
Government Investigations ,
Jurisdiction ,
UDAAP
On Jan. 13, 2021, the U.S. Supreme Court heard oral arguments in AMG Capital Management, LLC v. Federal Trade Commission, in which the Court grappled with the Federal Trade Commission's (FTC) authority to obtain equitable...more
Holland & Knight, the Word of Mouth Marketing Association (WOMMA) and the National Bar Association Commercial Law Section on Nov. 8, 2017, held an informative, half-day seminar featuring presentations and a panel discussion...more
The Consumer Financial Protection Bureau (CFPB) filed on Nov. 18, 2016, a petition challenging the U.S. Court of Appeals for the District of Columbia Circuit's ruling in PHH Corp., et al. v. Cons. Fin. Prot. Bureau, in which...more
11/23/2016
/ Administrative Proceedings ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
En Banc Review ,
Kickbacks ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statutory Interpretation ,
Trump Administration
The U.S. Court of Appeals for the District of Columbia Circuit on Oct. 11, 2016, held unconstitutional the current structure of the Consumer Financial Protection Bureau (CFPB), broadly condemning the agency's unparalleled...more
10/12/2016
/ Administrative Proceedings ,
Article II ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
HUD ,
Kickbacks ,
Mortgages ,
PHH Corp. v CFPB ,
Referral Fees ,
Reinsurance ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statute of Limitations ,
Statutory Interpretation
Holland & Knight and the Word of Mouth Marketing Association (WOMMA) on Sept. 21, 2016, held an informative, half-day seminar featuring presentations and a panel discussion of trends and forefront regulatory compliance issues...more
9/29/2016
/ Advertising ,
Brand ,
Celebrity Endorsements ,
Disclosure Requirements ,
Ethical Standards ,
Federal Trade Commission (FTC) ,
Instagram ,
Internet Marketing ,
Native Advertising ,
Online Advertisements ,
Online Reviews ,
Popular ,
Regulatory Standards ,
Social Media ,
Social Networks ,
Twitter ,
Unfair or Deceptive Trade Practices
Holland & Knight and the Association of Credit and Collection Professionals (ACA) hosted a half-day seminar that featured government officials discussing trends and current issues in law enforcement investigations and other...more
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
7/29/2016
/ Banking Sector ,
Borrowers ,
Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Debt Collection ,
Disclosure Requirements ,
FDCPA ,
Popular ,
Recordkeeping Requirements ,
Small Business
The U.S. District Court for the Western District of Wisconsin ruled on July 20, 2016, that the Consumer Financial Protection Bureau (CFPB) may hold the owners of two law firms offering debt relief services liable for alleged...more
The Consumer Financial Protection Bureau (CFPB) on May 5, 2016, released a proposed rule for public comment that would significantly limit companies' use of mandatory arbitration clauses in contracts with consumers.
The...more
Judge Richard J. Leon of the U.S. District Court for the District of Columbia on April 21, 2016, ruled that the Consumer Financial Protection Bureau (CFPB) did not have authority to issue a Civil Investigation Demand (CID) to...more
The Consumer Financial Protection Bureau (CFPB) announced that it has entered into a consent order with online payment platform Dwolla Inc., alleging that Dwolla made false representations to consumers relating to its data...more
This week, the Federal Trade Commission (FTC) warned companies that they may not realize they are subject to the Fair Debt Collection Practices Act (FDCPA). Christopher Koegel, Assistant Director of the FTC Division of...more
The Federal Trade Commission (FTC) announced today a major law enforcement initiative targeting deceptive and abusive debt collection practices. "Operation Collection Protection" is a nationwide initiative that the FTC is...more
Holland & Knight and the Word of Mouth Marketing Association (WOMMA) hosted a half-day forum that featured government officials discussing hot-button issues in consumer protection regulation and enforcement. Speakers at the...more
10/28/2015
/ American Express ,
Chamber of Commerce ,
CID ,
Civil Investigation Demand ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Data Protection ,
Data Security ,
Debt Collection ,
Disclosure Requirements ,
Enforcement Actions ,
FCC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Mortgage Lenders ,
Popular ,
Privacy Concerns ,
Robocalling ,
Sharing Economy ,
Telecommunications ,
Telemarketing
The Consumer Financial Protection Bureau (CFPB) has proposed new rules that would ban companies' use of arbitration clauses that prevent consumer class action lawsuits. The potential new rules, announced this month, would...more
10/22/2015
/ Arbitration ,
Arbitration Agreements ,
Automotive Loans ,
Bank Accounts ,
Class Action Arbitration Waivers ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Card Agreements ,
Credit Cards ,
Financial Institutions ,
Money Transfer ,
Payday Loans ,
Prepaid Payment Products ,
Private Student Loans ,
Title Loans
Consumer Financial Protection Bureau (CFPB) Director Richard Cordray rejected challenges to the CFPB's investigation powers and the Bureau's use of broadly worded civil investigative demands (CIDs). Director Cordray did so in...more
The CFPB's Supervisory Report Provides Important Insight into the CFPB's Supervision and Enforcement Priorities and Desired Business Practices.
HIGHLIGHTS:
- The Consumer Financial Protection Bureau (CFPB)...more
7/1/2015
/ Annual Reports ,
Consumer Complaint System ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Examination Priorities ,
Fair Lending ,
Loan Servicing ,
Mortgage Loan Originators ,
Mortgage Loan Servicing Standards ,
Student Loans ,
Supervision
On March 12, 2015, the Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB), the two agencies in charge of the federal government's consumer protection mission, reauthorized their Memorandum of...more
Finding that "naked paternalism" will not justify "protecting the public from truthful information," a Florida federal court held that two Florida Bar rules restricting attorney advertising violate the First Amendment to the...more