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Debt Collectors Financial Services Industry Regulatory Oversight

Troutman Pepper Locke

CFPB Proposes Rules Re-Defining Larger Participants in Multiple Markets

Troutman Pepper Locke on

On August 8, the Consumer Financial Protection Bureau (CFPB or Bureau) published a series of proposed rules aimed at redefining what constitutes a “larger participant” in several key financial markets. Under § 1024 of the...more

Cozen O'Connor

California Brings Licensing and Oversight to Consumer Debt Collectors

Cozen O'Connor on

On September 25, 2020, California Gov. Gavin Newsom signed S.B. 908, enacting the Debt Collection Licensing Act (DCLA). The DCLA will take effect on January 1, 2022, but proposed regulations will begin to roll out soon. ...more

Ballard Spahr LLP

NYDFS announces creation of new Consumer Protection Task Force

Ballard Spahr LLP on

The New York Department of Financial Services has announced the creation of a new Consumer Protection Task Force within the NYDFS. ...more

Ballard Spahr LLP

CFPB issues report on tradeline reporting by third-party debt collectors

Ballard Spahr LLP on

The CFPB has issued a new report on tradelines reported by third-party debt collectors as reflected on credit reports compiled by nationwide consumer reporting agencies.  The third-party collector tradelines consist of those...more

Ballard Spahr LLP

Meaningful attorney involvement: the CFPB’s new proposed “safe harbor” standard

Ballard Spahr LLP on

As part of our continuing discussion of the CFPB’s proposed debt collection rules, we focus in this blog post on a provision that occupies very little real estate in the proposal, but could have tremendous significance: a new...more

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