The CFPB has issued a Statement of Policy which seeks to “convey and foster greater certainty above the meaning of abusiveness” and provide a framework for its exercise of supervisory and enforcement authority as to abusive...more
1/31/2020
/ Abusive Acts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Enforcement Actions ,
Enforcement Authority ,
Enforcement Guidance ,
Financial Services Industry ,
Good Faith ,
Policy Statement ,
Remedies ,
Restitution ,
Safe Harbors ,
Unfair or Deceptive Trade Practices
District Court Takes Expansive View of Deceptive or Misleading Practices under FDCPA -
The FDCPA prohibits a debt collector from using "any false, deceptive, or misleading representation" in connection with the collection...more
5/11/2018
/ Administrative Appointments ,
Article III ,
ATDS ,
Collection Agencies ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Debt Collection ,
Disclosure Requirements ,
FCC ,
FDCPA ,
Fees ,
Financial Services Industry ,
Foreclosure ,
Interest Accrual ,
Proposed Legislation ,
Safe Harbors ,
Strategic Enforcement Plan ,
TCPA ,
Unfair or Deceptive Trade Practices
The Seventh Circuit recently joined the Fourth and Ninth Circuits in holding that a debt collection discharges its obligation as to debt validation by verifying that its letters accurately conveyed the information received...more
Settle (verb): “to conclude (a lawsuit) by agreement between parties usually out of court. Merriam Webster Dictionary -
The Third Circuit has refined its position as to whether collection of time-barred debt may violate...more
Any opinion that starts out by stating “[t]his case is about $82.00” is not likely to go well for one party and in this instance, that was the case for Nestor Saroza. ...more
Any opinion that starts out by stating “[t]his case is about $82.00” is not likely to go well for one party and in this instance, that was the case for Nestor Saroza....more
The CFPB continues to flex its muscle and expand its reach, this time punishing a prepaid card provider and its vendor for a conversion to a new system that did not go as planned. The consent order, which was entered into...more
A recent series of CFPB consent orders should remind the mortgage industry to carefully monitor its advertising practices. The MAP Rule prohibits deceptive and misleading commercial communications regarding any term of any...more
12/28/2016
/ Advertising ,
Civil Monetary Penalty ,
Compliance ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Document Retention Policies ,
Dodd-Frank ,
Employee Training ,
Enforcement Actions ,
MAP Rule ,
Mortgage Lenders ,
Remediation ,
Reverse Mortgages ,
Unfair or Deceptive Trade Practices