On January 29, 2020, the House passed H.R. 3621, the Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2020 (“Comprehensive CREDIT Act”). Sponsored by Rep. Ayanna Pressley (D-MA), it...more
2/7/2020
/ Consumer Financial Products ,
Consumer Reports ,
Credit Reporting Agencies ,
Credit Scores ,
Financial Regulatory Reform ,
Financial Services Industry ,
Legislative Agendas ,
Mortgages ,
Pending Legislation ,
Predatory Lending ,
Right To Appeal ,
Student Loans
The CFPB’s focus on debt collection continues. In addition to proposing changes to debt collection rules, analyzing debt collector trade lines, and filing and participating as an amicus in debt-collection litigation, the CFPB...more
The CFPB has issued its Consumer Response Annual Report, which analyzes the approximately 329,800 complaints received by the CFPB between January 1 and December 31, 2018. ...more
The FTC has issued its 2018 Consumer Sentinel Network Data Book. The report summarizes consumer complaints stored in the Consumer Sentinel Network, a secure online database....more
A unanimous three-judge panel of the U.S. Court of Appeals for the Ninth Circuit on Thursday handed the plaintiffs’ bar a resounding win. ...more
9/24/2018
/ Appeals ,
ATDS ,
Auto-Dialed Calls ,
Banking Sector ,
Financial Services Industry ,
Popular ,
Robocalling ,
Statutory Interpretation ,
TCPA ,
Telecommunications ,
Text Messages
Fair Credit Reporting Act (FCRA) litigation has increased in 2017 and shows little sign of slowing. While a plaintiff’s actual damages may be minimal, the statute’s award of reasonable attorney’s fees and costs for a...more
The U.S. Court of Appeals for the Federal Circuit has partially lifted a preliminary injunction that prevented the U.S. Department of Education (Department) from placing defaulted student loans with private collection...more
12/15/2017
/ Appeals ,
Bid Protests ,
Borrowers ,
Collection Agencies ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Department of Education ,
Financial Institutions ,
Financial Services Industry ,
Notice of Default ,
Preliminary Injunctions ,
Student Loans
The New Jersey Legislature is considering a law to restrict prepaid-account fees. Assembly Bill 4965 ( the NJ Bill) seeks to impose fee constraints, disclosure mandates, and limits on consumer liability for unauthorized...more
The 11th Circuit has clarified that the Fair Credit Reporting Act (FCRA) requires furnishers of credit information—like their credit reporting agency (CRA) counterparts—to conduct "reasonable" investigations of consumer...more