Discover insights from regulatory attorneys, Felix Shipkevich and Yvonne Bowser-Caballero of Shipkevich PLLC, who recently hosted this webinar to discuss a post-election overview of the regulatory state of the debt settlement...more
Felix Shipkevich and Yvonne Bowser-Caballero of Shipkevich PLLC, with special guest Nicholas Kosmas, Chief Legal Officer of ClearOne Advantage LLC, will host a webinar to discuss a post-election overview of the regulatory...more
12/4/2024
/ Consumer Financial Protection Bureau (CFPB) ,
Debt Settlement Services ,
Debt-Relief Industry ,
Debtors ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Legislative Agendas ,
Regulatory Agencies ,
Rulemaking Process ,
State Attorneys General ,
Trump Administration ,
Webinars
On March 4, 2024, a federal trial court in New York immediately banned a slew of debt relief service providers from charging and/or collecting any advance fees for debt relief services, finding that the defendant’s initial...more
3/8/2024
/ Debt Relief ,
Debt-Relief Industry ,
Evidentiary Hearings ,
Face-to-Face Narrative Requirement ,
Fees ,
Independent Contractors ,
New York ,
Orders of Prohibition ,
Public Notaries ,
State Bans ,
Telemarketing Sales Rule ,
Trial Court Orders
In recent weeks, we have seen an increase in prosecution by the Consumer Financial Protection Bureau (“CFPB”) and state attorneys general against debt relief companies and law firms. Additionally, the focus on these debt...more
This article highlights the few newsworthy actions and events we wrote about the debt settlement industry throughout the year. The debt settlement industry did see some movement by regulatory bodies across the board, though...more
12/20/2023
/ Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Debt Collection ,
Debt Settlement Services ,
Debt-Relief Industry ,
Federal Trade Commission (FTC) ,
Injunctions ,
Marketing ,
Regulatory Agenda ,
Robocalling ,
Student Loans
On September 6, 2023, the Minnesota Attorney General’s Office (“Minnesota”) announced that it has begun investigating the operations of more than 50 student-loan debt-relief companies suspected of violating consumer...more
On June 14, 2023, the Federal Trade Commission (FTC) announced that it will be providing over $3.3 million in payments to consumers who fell victim to the deceptive practices of Arete Financial Group (“Arete Financial”), a...more
Last week, the Federal Trade Commission (FTC) obtained temporary restraining orders against two student debt relief companies in the U.S. District Court for the Central District of California. The FTC thereby temporarily...more
5/9/2023
/ CARES Act ,
COVID-19 Consumer Data Protection Act ,
Debt-Relief Industry ,
Deceptive Intent ,
Federal Trade Commission (FTC) ,
FTC Act ,
Gramm-Leach-Blilely Act ,
Injunctions ,
Loan Repayment Issues ,
Restraining Orders ,
Student Loans
On April 28, 2023, the Federal Trade Commission (FTC) obtains multiple orders banning operators of an alleged credit card debt relief scheme based in Tennessee, who agreed to the court orders which permanently ban them from...more
On December 12, 2022, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule pursuant to its authority under the Consumer Financial Protection Act of 2010 (CFPA). This rule would require certain non-bank...more
12/14/2022
/ Compliance ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Credit Repair Services ,
Debt Management Companies ,
Debt-Relief Industry ,
Financial Adviser ,
Money Transfer ,
Non-Bank Lenders ,
Payment Systems ,
Proposed Rules ,
Reporting Requirements
On November 21, 2022, the U.S. District Court for the Middle District Of Tennessee granted the Federal Trade Commission's (FTC’s) ex parte motion for, among other relief, a temporary restraining order (“TRO”) to shut down an...more
12/1/2022
/ Debt Relief ,
Debt-Relief Industry ,
Enforcement Actions ,
Excessive Fees ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FTC Act ,
Regulatory Violations ,
Telemarketing ,
Telemarketing Sales Rule ,
TRO ,
Unfair or Deceptive Trade Practices