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Financial Regulatory Reform Debt Collection Fair Debt Collection Practices Act

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 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

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

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

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

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

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

Ballard Spahr LLP

CFPB enters into consent order with third-party collector of medical debts to resolve alleged FCRA and FDCPA violations

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The CFPB announced last week that it has entered into a consent order with Commonwealth Financial Systems, Inc. (Commonwealth), a third-party debt collection company that collects past-due medical debts and furnishes...more

Troutman Pepper Locke

CFPB Shuts Down Medical Debt Collector for Attempting to Collect Unverified Debt

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On December 15, the Consumer Financial Protection Bureau (CFPB) announced it had reached a settlement with medical debt collector Commonwealth Financial Systems, Inc. (Commonwealth) in its lawsuit over alleged illegal debt...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2023 # 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

Medical Debt Under the Microscope: Insights from the CFPB’s 2022 FDCPA Report

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On November 16, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Fair Debt Collection Practices Act (FDCPA) Annual Report detailing the CFPB’s 2022 activities related to debt collection practices. This...more

Troutman Pepper Locke

Ninth Circuit Rejects Constitutional Challenge to Nevada Medical Debt Legislation; Also Finds Legislation Not Preempted by FDCPA...

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Last week, the Ninth Circuit Court of Appeals affirmed a lower court’s denial of preliminary injunctive relief to plaintiffs challenging Nevada Senate Bill 248 (S.B. 248), which places new restrictions on the collection of...more

Ballard Spahr LLP

Ninth Circuit affirms district court’s denial of preliminary injunction to block enforcement of Nevada medical debt collection law

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The U.S. Court of Appeals for the Ninth Circuit, in a 2-1 decision, recently affirmed the district court’s decision denying the plaintiffs’ motion for a temporary restraining order and preliminary injunction to block...more

Troutman Pepper Locke

House Introduces Bill To Amend FDCPA To Set A Two-Year Limitation Before Collecting On Medical Debts

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The U.S. House of Representatives has introduced a bill, H.R. 1773, that seeks to amend the Fair Debt Collection Practices Act (FDCPA). The proposed amendment would include a two-year bar on the collection of medical debts...more

Burr & Forman

Communicating with Consumers after the CFPB's Debt Collection Final Rules Take Effect

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I. Introduction - On November 30, 2021, the Bureau of Consumer Financial Protection's ("CFPB") October and December 2020 Final Rules take effect. See 86 FR 48918-01. Among other things, the October and December 2020 Final...more

Bricker Graydon LLP

Important changes to debt collection practices: What you need to know

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The Consumer Financial Protection Bureau (CFPB) has issued major updates to the rules that affect creditors and those that collect their debt by amending Regulation F, which implements the Fair Debt Collection Practices Act...more

Morgan Lewis

CFPB Issues Final (and First Ever) Debt Collection Rule

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The Consumer Financial Protection Bureau (Bureau or CFPB) on October 30 issued the first part of its long-awaited debt collection final rule, which restates and clarifies prohibitions on harassment and abuse, false or...more

Goodwin

SEC Adopts Broad Exempt Offering Reforms

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In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more

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