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 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
Acting Director Mick Mulvaney’s decision to transition the Office of Fair Lending and Equal Opportunity (“OFLEO”) out of the Office of Supervision, Enforcement and Fair Lending (“SEFL”) does not eliminate or diminish the...more
A federal district court judge for the District of North Dakota has granted a payment processor's motion to dismiss an enforcement action brought by the Consumer Financial Protection Bureau (CFPB or Bureau). This is one of a...more
Lightning can strike twice. With the ink barely dry on the Consent Order against the Hanna Law Firm (Hanna) in Georgia, the Consumer Financial Protection Bureau (CFPB or Bureau) yesterday took action against another debt...more