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Debt Collectors Payday Loans Debt Collection

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - June 2024 # 3

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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

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Debt Collection

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to debt collection. If debt collection in 2023 had a theme it would be medical 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

Ballard Spahr LLP

CFPB Summer 2021 Supervisory Highlights looks at auto servicing, consumer reporting, debt collection, deposits, fair lending,...

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The CFPB has released the Summer 2021 edition of its Supervisory Highlights. The report, which contains 48 pages of supervisory observations, discusses the Bureau’s examinations in the areas of auto servicing, consumer...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 7, October 2020

Is a Cap on Payday Loan Rates About Protecting the Poor or Eliminating a Service? "Industry representatives say the proposed cap would drive most, if not all, payday lenders out of business and leave their customers...more

Alston & Bird

CFPB Issues Winter 2020 Supervisory Highlights

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A&B ABstract: The Winter 2020 Supervisory Highlights identifies the CFPB’s findings from recent examinations, noting violations that resulted in compliance management system weakness....more

Goodwin

CFPB Report Hints at Possible Debt Collection Focus

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At the end of May 2018, the Consumer Financial Protection Bureau (CFPB) released an analysis of consumer debt collection complaints highlighting several issues that often arise in those complaints. In light of Acting...more

Ballard Spahr LLP

FTC sends letter to CFPB on 2016 debt collection activities

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The FTC has sent a letter to the CFPB summarizing the FTC’s debt collection activities in 2016.  The letter is intended to provide the CFPB with information for its annual report to Congress on the federal government’s FDCPA...more

Ballard Spahr LLP

CFPB Fall 2016 rulemaking agenda published

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The CFPB’s Fall 2016 rulemaking agenda has been published as part of the Fall 2016 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more

Goodwin

NY DFS Obtains $3 Million in Restitution for Illegal Payday Lending

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On May 18, the New York State Department of Financial Services (DFS) announced a consent order with a debt buyer for purchasing and collecting on allegedly illegal payday loans made to New York consumers, in violation of the...more

Goodwin

NY DFS Obtains $119K in Restitution for Illegal Payday Lending

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On May 18, the New York State Department of Financial Services (DFS) announced a consent order with a Virginia debt buyer for collecting on illegal payday loans from New York consumers, in violation of the Fair Debt...more

Ballard Spahr LLP

CFPB highlights credit card complaints in fourth monthly complaint report

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The CFPB has issued its October 2015 complaint report, the fourth in its new series of monthly complaint reports. The new report highlights credit card complaints and complaints from consumers in the Chicago, Illinois metro...more

Manatt, Phelps & Phillips, LLP

"Phantom" Debt Collectors Actually Sued by FTC, Banned From Business

Why it matters - The operators of a scam that processed more than $5.2 million in payments from consumers for payday loans that were not owed to the operators are now banned from the debt collection business, the...more

Manatt, Phelps & Phillips, LLP

CFPB Report Focuses On Nonbank Financial Institutions

A new report from the Consumer Financial Protection Bureau (CFPB) highlighted the agency’s supervisory efforts with regard to nonbank financial institutions like payday lenders, debt collectors, and consumer reporting...more

Ballard Spahr LLP

New York Attorney General Announces Settlement with Debt Collector of Payday Loans

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A settlement with the operator of five Buffalo-area debt collection companies announced on November 21, 2013, by New York Attorney General Eric T. Schneiderman marks the latest chapter in the Attorney General's targeting of...more

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