The Colorado Uniform Debt Management Services Act (DMSA) regulates companies that offer and provide debt management services to Colorado residents. Under Colorado law, debt management services providers include providers of...more
On May 22, the Governor of Colorado approved HB 1251 (the “Act”) which will extend the regulation of debt-management service providers through September 1, 2035 (without legislative action, the relevant law would have been...more
Colorado Attorney General Phil Weiser announced a recent agreement between Florida-based debt management company Touchstone Partners, Inc. and the Colorado Department of Law in resolution of Touchstone’s violations of the...more
On November 3, Colorado Attorney General (AG) Phil Weiser announced that his office reached a settlement with Touchstone Partners, Inc. (Touchstone), a noted debt management company. The AG’s allegations were that Touchstone...more
The CFPB has filed a lawsuit in a South Carolina federal district court against Heights Finance Holding Co. f/k/a Southern Management Corporation and a group of its wholly-owned, state-licensed subsidiaries (collectively,...more
On December 14, 2022, the Colorado Attorney General (AG) announced that it entered into a consent order with a California-based debt management company and its sister lending company, resolving the AG’s examination...more
On December 12, 2022, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule pursuant to its authority under the Consumer Financial Protection Act of 2010 (CFPA). This rule would require certain non-bank...more
In this Issue. The U.S. Securities and Exchange Commission (SEC) was very active this week, having (i) issued no-action relief allowing registered funds to engage in self-custody of interests in loans that are originated,...more
On February 8, 2021, the Delaware Attorney General (Delaware AG) announced that it filed an administrative lawsuit against a California-based debt-management services company for allegedly violating the Delaware Uniform...more
Google has updated its financial products and services policy to restrict the advertisement of debt settlement, debt management services, and credit repair services....more
The Colorado Attorney General reached a $175,263 settlement with a lender and a debt management company that are owned and operated by the same individuals. The Colorado Attorney General alleged the companies violated...more
2020 AG Elections- Democrat Karen Tallian Announces Bid for Indiana Attorney General- State Senator Karen Tallian, a Democrat, has announced her candidacy for Indiana AG in 2020. Senator Tallian has served in the state...more