News & Analysis as of

Consumer Reporting Agencies Debt Collectors Financial Services Industry

Troutman Pepper

Alabama Federal Court Allows FDCPA Case Involving Ambiguous Dispute Letters to Proceed to Trial

Troutman Pepper on

The U.S. District Court for the Northern District of Alabama recently issued a decision in a Fair Debt Collection Practices Act (FDCPA) case highlighting the importance of clear and unambiguous communication in debt...more

Hudson Cook, LLP

[Webinar] Preparing for the New CFPB Enforcement Order Registry - June 27th, 2:00 pm ET

Hudson Cook, LLP on

Nonbank financial services companies with prior enforcement orders are preparing for the Consumer Financial Protection Bureau’s (CFPB) new Registry, which takes effect September 16. Nonbank consumer lenders, loan servicers,...more

Troutman Pepper

Illinois Passes Legislation to Ban Reporting of Medical Debt

Troutman Pepper on

On May 16, the Illinois legislature passed Senate Bill (SB) 2933. The bill amends the Illinois Consumer Fraud and Deceptive Business Practices Act making it unlawful for a consumer reporting agency (CRA) to create a consumer...more

Troutman Pepper

Nevada Federal Court Declines to Decide at Summary Judgment Stage Whether Pre-Dispute Investigation Was Sufficient to Satisfy FCRA

Troutman Pepper on

A federal district court judge in Nevada recently denied competing motions for summary judgment in a Fair Credit Reporting Act (FCRA) furnisher investigation case, demonstrating the challenges FCRA litigants often face in...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Ballard Spahr LLP

CO and NY enact laws to prevent reporting of medical debt to credit bureaus

Ballard Spahr LLP on

Colorado and New York are not waiting for the Fair Credit Reporting Act rulemaking to eliminate creditor use of medical debt announced by the CFPB in September 2023. As we previously blogged, in the past two years, Equifax,...more

Troutman Pepper

Federal Magistrate Recommends Dismissal of FDCPA and FCRA Case on Statute of Limitation and Reasonableness of Reporting Grounds

Troutman Pepper on

On November 9, a magistrate judge in the Northern District of Georgia issued a Report & Recommendation to grant a motion to dismiss because the plaintiff’s Fair Debt Collection Practices Act (FDCPA) claims were time-barred...more

Troutman Pepper

Wisconsin Federal District Court Denies Cross-Motions for Summary Judgment Holding the Reasonableness of Furnisher’s Investigation...

Troutman Pepper on

A U.S. District Court in the Western District of Wisconsin recently denied both the defendant and plaintiff’s summary judgment motions in a Fair Credit Reporting Act (FCRA) case, holding that the reasonableness of the...more

Troutman Pepper

NYC Department of Consumer and Worker Protection Proposes Amendments to Debt Collection Rules

Troutman Pepper on

New York City’s Department of Consumer and Worker Protection (NYC DCWP) recently released a notice of proposed amendments to its debt collection rules. The proposed amendments are detailed, lengthy, and include expanded...more

Venable LLP

CFPB Eyes Consumer Payment Markets for Supervision and Examinations

Venable LLP on

The CFPB's latest regulatory agenda signals that it is considering rules to define larger participants in markets for consumer payments, to be published in July 2023. This action, if implemented, would represent a sea change...more

Orrick, Herrington & Sutcliffe LLP

CFPB finds 33 percent decline in collections tradelines on credit reports

On February 14, the CFPB released a report examining debt collection credit reporting trends from 2018 to 2022. The Bureau’s report, Market Snapshot: An Update on Third-Party Debt Collections Tradelines Reporting, is based on...more

Ballard Spahr LLP

CFPB looks at connection between financial assistance for medical care and medical collections

Ballard Spahr LLP on

In a blog post published last week, the CFPB looked at the connection between eligibility for financial assistance under policies mandated by the Affordable Care Act (ACA) and medical collections.  The ACA requires nonprofit...more

Ruder Ware

Significant Changes to Medical Collection Debt Reporting: How Might it Affect Business?

Ruder Ware on

In March of this year, the three major nationwide credit reporting agencies (Equifax, Experian, and TransUnion) announced there would be substantial changes to medical collection debt reporting coming this summer in an effort...more

Troutman Pepper

CFPB Supervisory Report Finds Issues in Several Financial Institution Practices

Troutman Pepper on

On May 2, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Supervisory Highlights report on legal violations discovered during examinations in the second half of 2021....more

Ballard Spahr LLP

Equifax, Experian, and TransUnion announce changes in medical debt reporting

Ballard Spahr LLP on

Equifax, Experian, and TransUnion have announced that effective July 1, 2022, they will no longer include medical debt that was paid after it was sent to collections on consumer credit reports.  In addition, the time period...more

Manatt, Phelps & Phillips, LLP

CFPB Will Enforce Laws Preventing the Collection/Reporting of Medical Debts Barred by the NSA

As part of the Biden administration’s focus on enforcement of the No Surprises Act (NSA), the Consumer Financial Protection Bureau (CFPB) has issued a bulletin (the Bulletin) indicating that it will closely review the...more

Ward and Smith, P.A.

A Paradigm Shift in Consumer Collections: How the CFPB's Final Rule is Certain to Affect Creditors and Debt Collectors

Ward and Smith, P.A. on

The Fair Debt Collection Practices Act (FDCPA) is a dense federal statute that governs debt collection.  If you have read some of my previous articles on the topic, you will recall that this set of laws, in conjunction...more

Hudson Cook, LLP

CFPB Bites of the Month - October Top 10

Hudson Cook, LLP on

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

Hudson Cook, LLP

CFPB Bites of the Month - November Top 10

Hudson Cook, LLP on

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

Hudson Cook, LLP

Servicing Customers Affected by Natural Disasters: Tips for Unsecured and Personal Property Secured Creditors to Prepare for the...

Hudson Cook, LLP on

Over the past six months or so, creditors, servicers, and debt collectors alike have been forced to revisit disaster management policies in light of the unique and far-reaching impact of COVID-19: it is at once a nationwide...more

Ballard Spahr LLP

CFPB issues report on tradeline reporting by third-party debt collectors

Ballard Spahr LLP on

The CFPB has issued a new report on tradelines reported by third-party debt collectors as reflected on credit reports compiled by nationwide consumer reporting agencies.  The third-party collector tradelines consist of those...more

21 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide