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Posts tagged as “Small Business”

November 6 Webinar: What Debt Collectors, Debt Buyers, and Collection Lawyers Need To Know About the CFPB Larger Participant Rule and CFPB Exams

Election Day is next Tuesday and it is also an opportunity to learn more about the Consumer Financial Protection Bureau’s plans to regulate attorneys and small businesses. Join me at 11:30 am ET along with Alan Kaplinsky, Chris Willis and John Culhane of Ballard Spahr for this webinar on the Larger Participant Rule issued by the Consumer Financial Protection Bureau last week. I’ll be discussing the CFPB’s plan to regulate even small businesses and law firms it deems as “service providers.” Ballard Spahr publishes the cfpbmonitor.com which is a must read for anyone connected to the consumer financial services industry. This…

CFPB Releases Larger Non-Bank Participant Rule – Small Businesses and Law Firms Impacted

Last night, the Consumer Financial Protection Bureau (CFPB) released its Larger Non-Bank Participant Rule. The Rule is available here. In addition to releasing the Rule, the CFPB  released an examination manual and a fact sheet. Some highlights: The Rule is effective January 2, 2013 — 70 days from today. The Rule provides a description of the examination process. It does not apply to entities that originate credit. A person is subject to the Rule if they have more than $10 million in “annual receipts” resulting from consumer debt collection. “Annual receipts” is derived from a three-year average of receipts. “Annual receipts” does not include “those receipts that…