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Consumer Financial Protection Act (CFPA) Consumer Financial Products Debt Collectors

Ballard Spahr LLP

Third Circuit Holds Securitized Trusts Are Covered Persons Under CFPA

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On March 19th, the United States Court of Appeals for the Third Circuit issued an opinion in CFPB v. National Collegiate Master Student Loan Trust et al. (the “Trusts”). The issue before the Third Circuit was whether certain...more

Troutman Pepper

Medical Debt Under the Microscope: Insights from the CFPB’s 2022 FDCPA Report

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On November 16, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Fair Debt Collection Practices Act (FDCPA) Annual Report detailing the CFPB’s 2022 activities related to debt collection practices. This...more

Troutman Pepper

New York Federal Court Sides with CFPB, Denies Debt Holders’ Motions to Dismiss Case Alleging Violations of the FDCPA and CFPA

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On August 22, a district court judge in the Western District of New York denied the defendants’ motions to dismiss a case brought by the Consumer Financial Protection Bureau (CFPB) alleging violations of the Fair Debt...more

Hudson Cook, LLP

CFPB Bites of the Month - October Top 10

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So, what happened at the CFPB in the past month? Bite #10 - An appeals court vacated the CFPB's award against two mortgage relief companies and their attorneys. Back in 2014, the CFPB brought an action against two legal...more

Hinshaw & Culbertson - Consumer Crossroads

House Passes Comprehensive Debt Collection Improvement Act That Would Expand Multiple Consumer Finance Laws

Last week, the U.S. House of Representatives passed a bill, H.R. 2547, on a strict party-line vote. Titled "The Comprehensive Debt Collection Improvement Act, the bill would amend several consumer finance statutes for the...more

Wiley Rein LLP

Wiley Consumer Protection Download (April 26, 2021)

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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

CFPB Bites of the Month - November Top 10

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Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. In this month's article, we share our top "bites" covered during...more

Goodwin

CFPB, FTC, Federal and State Law Enforcement Crackdown on Corrupt Debt Collectors

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On September 29, 2020, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC), along with more than 50 federal and state law enforcement partners, announced a nationwide law enforcement and...more

Ballard Spahr LLP

Kraninger sets tone for vigorous enforcement agenda in decisions on five petitions to modify or set aside CFPB CIDs

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Consumer advocates have heavily criticized Director Kraninger and former Acting Director Mick Mulvaney for taking a much less aggressive attitude towards enforcement than former Director Cordray. ...more

Ballard Spahr LLP

CFPB enters into consent order with credit union

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The CFPB announced that it has entered into a consent order with Navy Federal Credit Union to settle allegations that the credit union engaged in unfair and deceptive collection practices in violation of the Consumer...more

Carlton Fields

CFPB Reports Continued Mortgage Servicing and Other Violations of Consumer Financial Law

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In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more

Ballard Spahr LLP

Atlanta federal district court interprets CFPA standard for “substantial assistance” liability

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Earlier this year, the CFPB filed a complaint in Atlanta federal district court targeting an alleged debt collection scam in which not only were the debt collectors named as defendants (Debt Collectors) but three companies...more

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