Clark Hill’s Financial Services and Regulatory Compliance Group has authored a whitepaper for debt settlement companies considering engaging a third-party payment processor for managing accounts and handling financial...more
1/31/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Data Privacy ,
Debt Collection ,
Debt Settlement Services ,
Enforcement Actions ,
Financial Services Industry ,
Payment Processors ,
Payment Systems ,
Regulatory Requirements ,
Risk Management ,
Third-Party Service Provider
On March 23, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) announced a proposed stipulated final judgment and order (“Proposed Order”) against Portfolio Recovery Associates (PRA), one of the nation’s largest...more