News & Analysis as of

Fair Debt Collection Practices Act Consumer Financial Protection Bureau (CFPB) Mortgage Lenders

Venable LLP

CFPB Narrows Supervision and Enforcement, Leaving Broader Focus to States

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The CFPB confirmed in a recent memo to staff that it is shifting its tone on supervision and enforcement—even as reports circulate about significant staffing cuts and potential structural changes at the agency. ...more

Alston & Bird

CFPB and FTC Amicus Brief Signals Stance on “Pay-to-Pay” Fees under FDCPA

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What Happened? On February 27, the Consumer Finance Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed an amicus brief in the 11th Circuit case Glover and Booze v. Ocwen Loan Servicing, LLC arguing that...more

Alston & Bird

CFPB’s Message to Mortgage Servicers: Make Sure You Comply with RESPA’s Force-Placed Insurance Requirements

Alston & Bird on

A&B Abstract: In Case You Missed It:  At the recent Federal Housing Finance Agency’s Symposium on Property Insurance, CFPB Director Rohit Chopra spoke about force-placed insurance and conveyed the following message: “The...more

Ballard Spahr LLP

CFPB takes aim at sniping zombie mortgage loans

Ballard Spahr LLP on

The Consumer Financial Protection Bureau (“CFPB”) recently issued advisory guidance on the enforcement of time-barred mortgage loans. A time-barred mortgage loan is one where the statute of limitations has expired. The...more

Bradley Arant Boult Cummings LLP

CFPB Issues Guidance to Lenders and Collectors on So-Called Zombie Second Mortgages

On April 26, 2023, the CFPB issued an advisory opinion clarifying that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection...more

Alston & Bird

CFPB Publishes Fall 2022 Supervisory Highlights

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A&B Abstract: On November 16, 2022, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) released its Fall 2022 Supervisory Highlights (Issue 28) (the “Supervisory Highlights”), which, among other things, announces...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 2, Issue 4 - February 2021

“Just Send a Venmo!”…To a Collection Agency? As a result of COVID-19, many businesses are leery of handling cash, credit cards, or debit cards, and consumers feel concerned about using paper money and coins. It is...more

Hudson Cook, LLP

CFPB Bites of the Month - January Top 10

Hudson Cook, LLP on

Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the Consumer Financial Protection Bureau (CFPB) for financial services providers to consider. In this month's article, we...more

Hudson Cook, LLP

CFPB Bites of the Month - December Top 20

Hudson Cook, LLP on

Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. It was a particularly busy month at the CFPB, so as an extra...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 7, October 2020

Is a Cap on Payday Loan Rates About Protecting the Poor or Eliminating a Service? "Industry representatives say the proposed cap would drive most, if not all, payday lenders out of business and leave their customers...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Issues Semi Annual Report to Congress

The CFPB has issued its Semi-Annual Report to Congress for the time period beginning April 1, 2018 and ending September 30, 2018. The Report is the first issued by newly confirmed Director Kathy Kraninger and outlines the...more

Goodwin

CFPB Amends Mortgage Servicing Rule to Facilitate Communications with Borrowers

Goodwin on

On October 4, 2017, the Consumer Financial Protection Bureau (CFPB) issued an interim final rule amending a provision of Regulation X relating to the timing servicers must observe when communicating with borrowers about...more

Hinshaw & Culbertson LLP

Consumer Financial Services Newsletter - August 2016

Seventh Circuit Rules: Filing a Proof of Claim for Old Debt Is Okay — Circuits Split - Owens et al. v. LVNV Funding LLC et al., Nos. 15-2044, 15-2082, 15-2109 (7th Cir. Aug.10, 2016) - In Owens v. LVNV Funding LLC,...more

Sheppard Mullin Richter & Hampton LLP

Most Recent CFPB Supervisory Highlights Feature FCRA, LO Compensation and Debt Collection Issues

The Consumer Financial Protection Bureau’s most recent supervisory highlights publication featured issues relating to the Fair Credit Reporting Act, loan originator compensation and in-person debt collection that should be on...more

BakerHostetler

CFPB Releases Fall 2015 Report Touting Recovery of Millions Through Supervisory Actions

BakerHostetler on

On November 3, the Consumer Financial Protection Bureau (CFPB) released its fall 2015 supervisory report concerning enforcement actions from May 2015 through August 2015. The Bureau highlights violations in the mortgage...more

BakerHostetler

CFPB Releases Fall 2015 Report Touting Recovery of Millions Through Supervisory Actions

BakerHostetler on

On November 3, the Consumer Financial Protection Bureau (CFPB) released its fall 2015 supervisory report concerning enforcement actions from May 2015 through August 2015. The Bureau highlights violations in the mortgage...more

Foley & Lardner LLP

UDAAP Council Weekly UDAAP Standards Report - 12/10/2014

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Every week, courts around the United States issue decisions addressing aspects of civil UDAAP claims. In an effort to illuminate the UDAAP standards, below is a sampling of some of this week’s UDAAP decisions on the...more

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