News & Analysis as of

Fair Debt Collection Practices Act Financial Regulatory Reform

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 2025 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Troutman Pepper Locke

CFPB Rescinds Dozens of Regulatory Guidance Documents in Major Regulatory Shift

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The Consumer Financial Protection Bureau (CFPB or Bureau) announced the withdrawal of 67 regulatory guidance documents, including interpretive rules, policy statements, and advisory opinions that have been issued since the...more

Troutman Pepper Locke

CFPB Announces 2025 Supervision and Enforcement Priorities

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This week, the Consumer Financial Protection Bureau (CFPB or Bureau) released a memo to staff outlining its new supervision and enforcement priorities for 2025....more

Venable LLP

Navigating the New Consumer Financial Services Landscape: Enforcement, Compliance, and Litigation Risks

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Financial services companies may feel relief from the aggressive federal oversight and regulation that defined the past decade. However, regulatory risk has not disappeared—it has shifted. ...more

Katten Muchin Rosenman LLP

CFPB Shaken Up While Courts Address Consumer Fraud Obligations Under EFTA and Convenience Fees

The new administration continues to shake up the financial services regulatory environment. The CFPB’s new acting director indicated over the weekend that the agency will not take its next draw of funding from the Federal...more

Troutman Pepper Locke

CFPB Voluntarily Extends Effective Date of Advisory Opinion on Medical Debt

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Earlier this month, we discussed the lawsuit filed by ACA International, LLC and Collection Bureau Services, Inc. in the U.S. District Court for the District of Columbia against the Consumer Financial Protection Bureau (CFPB...more

Troutman Pepper Locke

NYC DCWP Delays Enforcement of Amended Debt Collection Rules

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This week, we discussed the constitutional legal challenge against New York City’s recently amended debt collection rules, which were scheduled to go into effect on December 1, 2024. These rules would stringently regulate...more

Troutman Pepper Locke

New York City’s Amended Debt Collection Rules Draw Legal Challenge

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New York City’s recently amended debt collection rules — scheduled to go into effect on December 1, 2024 and which would stringently regulate various debt collection activities by debt collectors operating in the city — have...more

Cadwalader, Wickersham & Taft LLP

What the CFPB Has Been up To

Checking in on what the Consumer Financial Protection Bureau (“CFPB”) has been up to for the last month, in case you missed it (and with some commentary)...more

Ballard Spahr LLP

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

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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

Troutman Pepper Locke

CFPB Intensifies Scrutiny on Medical Debt Collection Practices

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On October 1, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion aimed at debt collectors and emphasizing their obligations under the Fair Debt Collection Practices Act (FDCPA) and Regulation...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2024

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Ballard Spahr LLP

CFPB Blog: Debt collectors who attempt to collect on spouse’s medical bills from a survivor may violate federal law

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The CFPB recently issued a blog post, highlighting debt collection impacts on surviving spouses. In the blog, the CFPB warns that debt collectors who try to collect on a spouse’s medical bills from a survivor, who is not...more

Troutman Pepper Locke

July 2024 Consumer Litigation Filings: Mixed Results for Month, Up YTD

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According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA) and Telephone Consumer Protection Act (TCPA) were down for the month of July, but filings the under Fair Debt Collection...more

Ballard Spahr LLP

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

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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

Ballard Spahr LLP

Federal Judge Sanctions Pittsburgh Law Firm for Writing ‘Imaginary’ Letters on Behalf of Clients in Debt Disputes

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A Pennsylvania federal judge has imposed sanctions and lambasted a law firm and its attorneys for having employees write falsified letters on behalf of clients involved in debt collection disputes....more

Troutman Pepper Locke

June 2024 Consumer Litigation Filings: Down for Month, Up YTD

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According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), and Telephone Consumer Protection Act (TCPA), and complaints filed with the...more

Ballard Spahr LLP

OCC to review its preemption interpretations in light of Supreme Court opinion and state debanking laws

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On July 17, Acting Comptroller of the Currency Michael Hsu delivered prepared remarks before the Exchequer Club entitled “Size, Complexity, and Polarization in Banking.”...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2024 # 4

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2024 #3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Troutman Pepper Locke

General Counsel of the CFPB Delivers Remarks Focusing on Medical Collections and Tenant Screening

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In a recent speech at the National Consumer Law Center/National Association of Consumer Advocates Spring Training, Seth Frotman, General Counsel of the Consumer Financial Protection Bureau (CFPB or Bureau), focused on medical...more

Troutman Pepper Locke

February 2024 Consumer Litigation Filings: Mixed Bag for New Filings

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According to a recent report by WebRecon, court filings under the Fair Debt Collection Practices Act (FDCPA) and Telephone Consumer Protection Act (TCPA) were down for the month of February while court filings under the Fair...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - March 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Troutman Pepper Locke

CFPB Amicus Brief Supports FDCPA Claim for Unknowing Stay Violation

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On January 2, the Consumer Financial Protection Bureau (CFPB) filed an amicus curiae brief urging the U.S. Court of Appeals for the First Circuit to reverse a district court’s decision finding that a debt collector lacked the...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - January 2024 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

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