News & Analysis as of

Debt Collection Financial Services Industry Relief Measures

Hudson Cook, LLP

CFPB Bites of the Month - January 2024 - A Hazy Shade of Winter With the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior and current month covered during the January 2024 webinar....more

Sheppard Mullin Richter & Hampton LLP

CFPB Signals Foray into Protecting Small Businesses from Abusive Debt Collectors

On April 15, the CFPB and FTC announced the release of a joint annual report to Congress administering the Fair Debt Collection Practices Act (FDCPA).  The annual report highlights both agencies’ efforts to protect and...more

Goodwin

2020 Year in Review: Consumer Finance

Goodwin on

For so many people and companies, 2020 was a year of uncertainty unlike any other in recent memory. It was no different for the financial services industry. The biggest uncertainty was COVID-19. The global pandemic had a...more

Goodwin

OCC Proposes Rules for CRA Benchmarks and Fair Access

Goodwin on

In the News. The Office of the Comptroller of the Currency (OCC) issued a long-awaited rule seeking comment on its proposed approach to determine the Community Reinvestment Act (CRA) evaluation measure benchmarks, retail...more

Goodwin

CFPB, FTC And 50 States Show Power In Numbers With Operation Corrupt Collector

Goodwin on

In the News. The Consumer Financial Protection Bureau (CFPB), along with the Federal Trade Commission (FTC) and more than 50 federal and state law enforcement partners, announced Operation Corrupt Collector, a nationwide law...more

Foodman CPAs & Advisors

What do you do if you are a Financial Institution with COVID-19 Loan Accommodations near the end?

On August 3, 2020, the Federal Financial Institutions Examination Council (FFIEC)  issued a Joint Statement on Additional Loan Accommodations Related to COVID-19 regarding loans  that are near the end of an initial loan...more

Hudson Cook, LLP

COVID-19 Debt Collection in Massachusetts: A Story in Three Parts

Hudson Cook, LLP on

We are living in and through unprecedented times. The coronavirus pandemic sweeping across the globe has had a number of crippling effects on the nation - pushing its healthcare system to the brink, driving many out of the...more

Mayer Brown

Debt Collection During and After the Pandemic: Do Certain US Legislators and Agencies Seek a Debt Collection Ice Age?

Mayer Brown on

As the COVID-19 pandemic rages on, state and federal lawmakers have taken aggressive measures to protect the health and economic security of their citizens, including legislative and regulatory measures limiting or proposing...more

Ballard Spahr LLP

Trade group files lawsuit challenging Massachusetts emergency debt collection regulation

Ballard Spahr LLP on

ACA International, the Association of Credit and Collection Professionals, has filed a lawsuit in Massachusetts seeking to have the federal district court declare the emergency debt collection regulation promulgated on March...more

Ballard Spahr LLP

District of Columbia enacts emergency debt collection law in response to COVID-19 pandemic; Massachusetts AG issues guidance on...

Ballard Spahr LLP on

On April 7, the District of Columbia passed the COVID-19 Response Supplemental Emergency and Temporary Amendment Act of 2020 which goes into effect immediately and lasts until 60 days after the emergency ends. ...more

BCLP

Credit Reporting & Collections Forbearance per the CFPB

BCLP on

The CFPB issued guidance and consumer information tools last week covering components of the Coronavirus Aid, Relief and Economic Security (CARES) Act. In this rapidly environment, financial services companies might do well...more

Burr & Forman

COVID-19 Collections Restriction Efforts: Ohio, Maryland, and Massachusetts

Burr & Forman on

On March 25, 2020, State Rep. Thomas West of Ohio introduced legislation, HB 596, which would halt all in-state debt collections until Ohio’s state of emergency expired....more

Burr & Forman

COVID-19 Collections Impact Bulletin

Burr & Forman on

The recent COVID-19 (or Coronavirus) pandemic has caused federal and state governments to adopt statutory or policy changes in order to protect consumers as foreseeable economic hardship is likely to occur. These...more

Morgan Lewis

Massachusetts Prohibits Certain Credit and Debt Collection Practices During COVID-19 Emergency

Morgan Lewis on

The Massachusetts Office of the Attorney General issued an emergency rule on April 1 to prevent unfair and deceptive collection practices during the coronavirus (COVID-19) crisis. The rule temporarily prohibits some debt...more

Kelley Drye & Warren LLP

States Place New Restrictions on Collection Efforts and Outbound Calls Amidst COVID-19 Pandemic

The COVID-19 pandemic continues to have far-reaching effects on businesses and consumers everywhere. While many states are taking broadly consistent approaches on certain issues (e.g., price gouging, non-essential business...more

Ballard Spahr LLP

Nevada Directive Requiring Collection Agencies To Cease Collection Efforts Due To COVID-19 Outbreak Creates Uncertainty

Ballard Spahr LLP on

On March 13, following the declaration of a state of emergency by Nevada Governor Sisolak due to the COVID-19 outbreak, the state’s Department of Business and Industry (DBI) issued guidance that allowed collection agency...more

Goodwin

COVID-19 and Consumer Financial Services: Navigating New U.S. and State Orders, Rules, Laws, Guidance, and Pleas

Goodwin on

It is imperative that financial institutions stay abreast of COVID-19-related issues as they develop and consider the risks of failing to implement the various policies espoused in the federal and state orders and guidance,...more

Ballard Spahr LLP

ACA International asks CFPB to extend comment period for supplemental debt collection proposal

Ballard Spahr LLP on

In light of the disruption caused by the COVID-19 pandemic, ACA International has asked the CFPB for a 30-day extension of the deadline for filing comments on its supplemental debt collection proposal.  The proposal would...more

18 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