Latest Posts › Debt Collection

Share:

Wisconsin Appeals Court Rejects National Bank Act Preemption

In a significant ruling on February 18, 2025, the Wisconsin Court of Appeals determined that National Bank Act (NBA) does not preempt the procedural “right to cure” notice requirements mandated by the Wisconsin Consumer Act...more

CFPB, National Collegiate Student Loan Trusts resolve case that Supreme Court declined to consider

The CFPB and the National Collegiate Student Loan Trusts—a group of fifteen securitization trusts that acquire, pool, and securitize student loans—have entered into a proposed final consent judgment that, if approved, would...more

CFPB issues medical debt rule; regulation immediately challenged in federal court

The CFPB has issued its  final rule that will prohibit the inclusion of medical debts in credit reports lenders use to make credit decisions and that will also generally prohibit lenders from using medical debt information in...more

CFPB says examiners have uncovered a variety of illegal practices in student loan markets

CFPB examiners have identified a variety of illegal practices across student loan markets, the bureau said, in a special edition [add the link here] of its Supervisory Highlights. The report covers alleged violations related...more

CFPB extends effective date of medical debt advisory opinion

Saying that it wants to provide sufficient time to brief issues in pending litigation, the CFPB has announced that it is extending the effective date of its advisory opinion on medical debt from Dec. 3, 2024 to Jan. 2, 2025....more

ACA International files suit challenging CFPB medical debt advisory opinion

ACA International, the association representing the accounts receivable industry, has filed suit against the CFPB, alleging that the bureau’s advisory opinion on medical debt was overtly political, issued in violation of the...more

Federal judge orders debt collector Global Circulation Inc. to temporarily cease operations

A federal judge has ordered debt collector, Global Circulation Inc. (GCI) to temporarily halt operations, following an FTC complaint that alleged GCI tricked consumers into paying more than $7.6 million in bogus debt by...more

Chopra says CFPB finalizing medical debt rule; agency issues advisory opinion on debt collector practices

The CFPB is in the process of completing its final rule intended to ban the inclusion of medical debts in credit reports, bureau Director Rohit Chopra said at a White House session intended to focus on practices in the...more

CFPB: Most debt collection complaints in 2023 were attempts to collect debts not owed

The most frequent consumer debt collection complaints filed with the CFPB in 2023 were attempts to collect debts that actually were not owed, the bureau said in its annual Fair Debt Collection Practices Act report....more

FTC Orders Career Training Company to Pay $43.5 Million for Luring Students With Deceptive Ads

Career Step LLC, an online career training company has been ordered to pay $43.5 million in cash and debt cancellation to resolve FTC charges that the company “lured consumers, specifically servicemembers and their families,...more

Chopra Defends CFPB’s Medical Debt Proposed Rule

CFPB Director Rohit Chopra on Thursday defended his agency’s proposed rule to prohibit the listing of medical debt on credit reports, contending that such debts are not a fair indication of a person’s financial health....more

CFPB Isn’t Seeking a Rehearing and Petitions Fifth Circuit to Forthwith Issue Mandate in connection with the Writ of Mandamus...

On July 11, 2024, the CFPB filed Respondent’s Motion for the Immediate Issuance of the Mandate. In the motion, the CFPB states that they do not plan to seek a rehearing before the same Fifth Circuit or En Banc and requests...more

CFPB Releases Summer 2024 Supervisory Highlights

The CFPB has released its Summer, 2024 Supervisory Highlights, covering issues ranging from student loan servicing to financial institution supervision of medical providers offering payment products. The report covers the...more

Fifth Circuit (again) rejects transfer of credit card late fee case to D.C.

On June 19, 2024, the Fifth Circuit dissolved the district court’s order transferring the case challenging the CFPB’s credit card late fee rule. In granting the writ of mandamus filed by the plaintiff trade associations...more

CFPB issues proposal to prohibit use of medical debt information in credit decisions

The steady drumbeat of steps during Rohit Chopra’s tenure as CFPB Director to call into question the reliability and predictability of medical debt information in credit underwriting reached a crescendo last week with the...more

Transfer Redux: Once again, CFPB Late Fee litigation transferred from Texas to DC, transfer challenged in Fifth Circuit

In a replay of earlier events, in response to an emergency petition for writ of mandamus and administrative stay of transfer filed by the plaintiffs in the lawsuit challenging the legality of the CFPB’s credit card late fee...more

CFPB Issues “Interpretive Rule” Deeming BNPL Providers Card Issuers

The result of the CFPB’s multi-year study of the BNPL industry is what the CFPB calls an interpretive rule in which it finds that: (1) “digital user accounts” (each a “DUA”) that may be used to access credit are “credit...more

Texas federal district court enters preliminary injunction staying CFPB final credit card late fee rule

Last Friday, May 10, the Texas federal district court hearing the lawsuit challenging the CFPB’s final credit card late fee rule (Rule) granted the plaintiffs’ preliminary injunction motion and stayed the Rule. The Rule was...more

Fifth Circuit denies CFPB petition for panel rehearing in lawsuit challenging CFPB credit card late fee final rule

In the lawsuit challenging the CFPB’s final credit card late fee rule (Rule), the Fifth Circuit has denied the CFPB’s petition for a panel rehearing to reconsider the panel’s order vacating the district court’s order...more

223 Results
 / 
View per page
Page: of 9

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide