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Troutman Pepper Locke

NYC DCWP Further Delays Effective Date of Amended Debt Collection Rules (UPDATED)

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Yesterday, the New York City Department of Consumer and Worker Protection (NYC DCWP) announced another delay in the effective date of its amended debt collection rules. This marks the second postponement. As discussed here,...more

Ballard Spahr LLP

Federal Judge vacates CFPB medical debt rule

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A Texas federal judge has voided a Biden Administration CFPB rule that would have prohibited medical debt in credit reports....more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – July 2025

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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

Florida Enacts New Debt Collection Legislation to Account for Modern Technologies — Makes Clear that Emails Are Not Prohibited...

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On May 16, Florida Governor Ron DeSantis signed into law CS/CS/SB 232, aimed at refining debt collection practices within the state. Among other things, the amendment to the Florida Consumer Collection Practices Act clarifies...more

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

Arkansas Passes Earned Wage Access Services Act

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On March 20, the Arkansas governor signed into law Arkansas Act 347, known as the Earned Wage Access Services Act. Sponsored by Representative David Ray (R) and Senator Ben Gilmore (R), this legislation aims to regulate...more

Orrick, Herrington & Sutcliffe LLP

California DFPI updates regulations under its Debt Collection Licensing Act

Recently, the California DFPI adopted updated regulations concerning the state’s Debt Collection Licensing Act. The DFPI established definitions and specific requirements for the term “net proceeds generated by California...more

Troutman Pepper Locke

Utah Legislature Passes Earned Wage Access Services Act

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The Utah Legislature has passed H.B. 279, known as the Earned Wage Access Services Act. Sponsored by Representative A. Cory Maloy (R) and Senator Chris H. Wilson (R), this legislation aims to regulate earned wage access (EWA)...more

Sheppard Mullin Richter & Hampton LLP

GOP Senators Moving to Invoke the Congressional Review Act Over Biden-Era Rules

The CFPB is facing pushback from the U.S. Senate over two final rules issued under the Biden administration: one expanding oversight of nonbank digital payment providers and another limiting the reporting of medical debt....more

Shipkevich PLLC

California Proposes Legislative Amendments to Expand Debt Settlement Regulation to Certain Business Debt Settlement Providers

Shipkevich PLLC on

On February 24, 2025, California Assemblymember Avelino Valencia (D-Anaheim) introduced Assembly Bill (AB) 1166, which seeks to amend and expand the state’s existing Fair Debt Settlement Practices Act (the “Act”) to include...more

Troutman Pepper Locke

2024 Consumer Financial Services Year in Review and A Look Ahead

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We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more

Hinshaw & Culbertson - Consumer Crossroads

New York City Department of Consumer and Worker Protection Announced Another Delay to the Effective Date for its Final Rules...

In January 2025, the New York City Department of Consumer and Worker Protection (DCWP) issued a Notice of Change of Effective Date (Notice), further delaying the effective date for the final rules relating to debt collectors...more

Ballard Spahr LLP

CFPB issues medical debt rule; regulation immediately challenged in federal court

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The CFPB has issued its  final rule that will prohibit the inclusion of medical debts in credit reports lenders use to make credit decisions and that will also generally prohibit lenders from using medical debt information in...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

Orrick, Herrington & Sutcliffe LLP

NYDFS revises proposed amendments to third-party debt collection rules

In December, NYDFS released revised proposed amendments to 23 NYCRR 1, which regulates third-party debt collectors and debt buyers. NYDFS first issued a proposed amendment to 23 NYCRR 1 in December 2021 ...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

Cozen O'Connor

California Brings Licensing and Oversight to Consumer Debt Collectors

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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

Bricker Graydon LLP

Ohio's new requirements for junior lienholders and mortgage servicers

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It has been a little over six months since Ohio Revised Code § 1349.72 went into effect—a law that requires holders of junior liens on residential real property to first send a written notice containing specific information...more

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