Press "Enter" to skip to content

Posts tagged as “compliance”

CFPB Issues Taskforce Report on How to Improve Consumer Protection in the Financial Marketplace

Last week the Consumer Financial Protection Bureau released its report from the Taskforce on Federal Consumer Financial Law. It is just shy of 900 pages and includes some 100 recommendations that, if implemented, would broaden the CFPB’s regulatory oversight powers.

6th Circuit Rejects ‘Benign Language’ Exception in FDCPA Envelope Disclosure Claim

The U.S. Court of Appeals for the Sixth Circuit recently held that the plain language of 15 U.S.C. 1692f(8), a provision of the Fair Debt Collection Practices Act (FDCPA) regulating what may be shown on an envelope when a debt collector communicates with a consumer by mail, does not include a “benign language” exception.

Four Cases Are Trying to Disrupt the Debt Buying Industry, What You Can Do to Protect Your Company

Managing against unforeseen risks can be a difficult task. But sometimes you can get a hint of potential trouble ahead. In the past few months there have been at least four cases that could cause substantial disruption to debt buyers, creditors and their service providers alike. Here they are:

Leading Subprime Auto Finance Company Settles With CFPB for Violations of the Fair Credit Reporting Act

The Consumer Financial Protection Bureau recently announced a consent order against a subprime automobile finance company for violations of the Fair Credit Reporting Act resulting from systemic errors in data furnished to credit reporting agencies between January 2016 and August 2019.

2020 Year-End Wrap Up: Enforcement Actions of the State Attorneys General

In a year when society, families and business were forced to make immediate and radical adjustments, government offices also scrambled to proceed in a new environment. Regulators shifted resources in order to comply and respond to complaints of price-gouging while also continuing the investigations and enforcement actions already on the books.