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
The Consumer Financial Protection Bureau (CFPB) has approved the Financial Data Exchange’s (FDX) application to serve as a standard-setting body under the final rule for Personal Financial Data Rights, (“open banking”)...more
On January 3, 2025, the Consumer Financial Protection Bureau (CFPB) announced a comprehensive reboot of its No-Action Letter (NAL) and Compliance Assistance Sandbox (CAS) policies. The proposed policies on its face, marks a...more
The Consumer Financial Protection Bureau (CFPB) recently finalized its “Overdraft Lending: Very Large Financial Institutions Rule,” introducing sweeping changes to how overdraft credit is structured and regulated for the...more
The GOP’s dominance in the 2024 presidential election suggests that financial regulation is likely to experience some shifts in priorities. While Republican administrations traditionally favor a deregulatory approach, recent...more
On July 11, the Consumer Financial Protection Bureau (“CFPB”) held a hearing on issues surrounding medical debt and specifically, payment products. Not surprisingly, the invited experts and special guests taking part in the...more
As the evolution of Artificial Intelligence (“AI”) dominates headlines throughout the globe, financial institutions have been paying attention. Not surprisingly, so has the Consumer Financial Protection Bureau (“CFPB” or...more
On April 3, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) published a broad and wide-ranging Policy Statement on Abusiveness (“Policy Statement”) meant to assist “government enforcers” in identifying and...more
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
On July 30, the Consumer Financial Protection Bureau (CFPB) announced that the final rules interpreting the Fair Debt Collections Practices Act (FDCPA) will go into effect on Nov. 30, as originally planned. The CFPB issued a...more
On this episode of Credit Eco to Go with Joann Needleman, former CFPB Deputy Director, Tom Pahl, stops by to talk Regulation F. Tom has been the point person on #debtcollection policy while serving at both the FTC and the...more
Joann Needleman welcomes Amy Mertz Brown to the Credit Eco to Go podcast to continue our celebration of #womenshistorymonth2021. Amy was one of the first hires at the CFPB where she helped establish and build the agency’s...more
On this episode of Credit Eco to Go with Joann Needleman, Clint Lotz, President and Founder of TrackStar stops by to talk not only about data, but he weighs into the debate of data regulation. More and more states are...more
On this episode of the Credit Eco to Go podcast hosted by Joann Needleman:
Ralph Liberio, President and CEO of NCB Management Services, Inc. stops by Clark Hill’s Credit Eco to Go to discuss the CFPB’s new debt collection...more
On January 19, 2021, The Consumer Financial Protection Bureau (“Bureau”) adopted a final rule that codifies the Interagency Statement Clarifying the Role of Supervisory Guidance, issued by the Office of the Comptroller of the...more
On this episode of the Credit Eco to Go Podcast hosted by Joann Needleman:
A financial services system must work for everyone. But how is that goal achieved? In 1968, President Johnson formed the National Commission on...more
On Dec. 18, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) completed its seven-year rulemaking process for debt collection. In 2013, the CFPB embarked on an ambitious journey to write regulations to interpret...more
The Consumer Financial Protection Bureau’s (“CFPB” or “Bureau”) Final Rule for Debt Collection (Final Rule) not only provides industry with a much-needed (and long-awaited) framework for the interpretation of the Fair Debt...more
The long-awaited Final Rule (Regulation F) for the Fair Debt Collection Practices Act (FDCPA) was issued Friday afternoon, concluding a seven-year rulemaking process. In its official press release, the Consumer Financial...more
On July 2, 2020, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued a short press release announcing a new supervisory approach called “Prioritized Assessments” (“PAs”). PAs were developed in response to...more
The Consumer Financial Protection Bureau (CFPB or Bureau) has been a federal agency like no other. Born out of the last financial crisis, the Dodd-Frank Act envisioned the CFPB to be an independent agency, free of “political...more
The collections and servicing industry and call centers are being hit hard as a result of COVID-19. Agencies and businesses are scrambling to supply their staff with the hardware and software to work remotely while shifting...more
On Tuesday, March 3, 2020, the Supreme Court of the United States heard argument in the case of Seila Law, LLC (Seila) v. Consumer Financial Protection Bureau (CFPB); a case many believed would have not only a lasting impact...more
Last Friday, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Supplemental Notice of Proposed Rulemaking (SNPR) for time-barred debt disclosures. ...more
Both the departure of Richard Cordray at the Consumer Financial Protection Bureau (CFPB) and the Trump Administration’s priority to ease regulatory burden spurred speculation that the states would fill the void as the...more