In this article, the authors review a decision by a federal circuit court of appeals upholding the constitutionality of the funding structure for the Consumer Financial Protection Bureau.
Entities regulated by the...more
Entities regulated by the Consumer Financial Protection Bureau (“CFPB”), including banks, credit unions, payday lenders, mortgage servicers, debt collectors, and other financial services providers, should take note that the...more
The CFPB’s interim final rule amends Regulation F to, among other things, (i) require debt collectors to provide written notice to certain consumers about the CDC’s temporary eviction protections; and (ii) prohibit debt...more
4/23/2021
/ Centers for Disease Control and Prevention (CDC) ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Debt Collection ,
Debt Collectors ,
Eviction ,
FDCPA ,
Interim Final Rules (IFR) ,
Landlords ,
Popular ,
Tenants
Financial institutions and debt collectors should take note of, and provide comments on, the CFPB’s recent Notice of Proposed Rulemaking, which attempts to provide consumers with “clear protections against harassment by debt...more
On June 21, 2018, the United States District Court for the Southern District of New York (“Southern District”) held that Title X of the Dodd Frank Act, which established the Consumer Financial Protection Bureau (“CFPB”) as an...more
On July 10, 2017, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule (“Arbitration Rule”) prohibiting banks, debt servicers, credit card companies, and a wide range of other businesses from using...more
Action Item: Banks and other consumer finance firms that purchase delinquent debt and then collect on their own behalf are not “debt collectors” under the Fair Debt Collection Practices Act. However, this limitation still...more
Action Item: Financial institutions currently subject to CFPB enforcement proceedings should be aware of the D.C. Circuit’s decision ruling that the CFPB cannot (i) circumvent applicable statutes of limitation in the context...more