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Lenders › Fair Debt Collection Practices Act › Financial Institutions

Brownstein Hyatt Farber Schreck

Brownstein Secures More Regulatory Wins Through Litigation and Advocacy Efforts

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In two cases challenging regulatory actions by the Biden-era Consumer Financial Protection Bureau (CFPB), Brownstein secured major wins for the collections industry. First, in litigation filed in Texas, Brownstein represented...more

Wiley Rein LLP

Wiley Consumer Protection Download (January 24, 2022)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...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

BakerHostetler

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

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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

Burr & Forman

Dodd-Frank News: November 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

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The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Ballard Spahr LLP

CFPB Orders Indirect Auto Finance and Title Loan Companies to Pay $48.35 Million in Redress and Penalties For Abusive Debt...

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The CFPB has entered into a consent order with Westlake Services, LLC, an indirect auto finance company, and its wholly owned subsidiary, Wilshire Consumer Credit, LLC, for alleged deceptive debt collection practices. The...more

Baker Donelson

A Treasure Trove: Publication of Complaint Data by the CFPB

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The CFPB complaint database was created with altruistic intentions. They envisioned a tool that consumers could use to search a downloadable database for research on a product or specific lender, just as they would research...more

Davis Wright Tremaine LLP

Increased Risk for Buyers of Credit Card Loans

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Third party debt buyers may face increased threat of state-law class action lawsuits after a recent Second Circuit ruling prohibiting such debt buyers from invoking federal preemption defenses under the National Bank Act to...more

Troutman Pepper

Valid at Inception Rule Shot Down by the Second Circuit

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Marketplace lenders and investors that purchase interests in loans originated by banks should pay close attention as it could spawn a host of class action lawsuits if left standing. In a controversial opinion decided on...more

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