Compliance

CFPB Releases Spanish Model Validation Notice

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The Consumer Financial Protection Bureau this week quietly released a new update to Regulation F, one that many in the industry had been anxiously awaiting as the countdown to November 30 gets smaller and smaller. The CFPB released a Spanish-language translation of its Model Validation Notice, which collectors can choose …

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Bedard Breaks Down Model Notice’s Optional Disclosures

When it issued Regulation F, the Consumer Financial Protection Bureau did not just issue a set of rules that debt collectors absolutely needed to follow. While much of what is included in Regulation F sets forth requirements that are mandatory, the CFPB also gave collectors some latitude to put their …

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CFPB Issues First Enforcement Action Under Chopra

Less than a week after having a new Director sworn in, the Consumer Financial Protection Bureau announced its first enforcement action of the Rohit Chopra era, assessing $6 million in fines and penalties against a company that offers financial services products to individuals incarcerated and recently released from prisons and …

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FCC Proposes Rule to Block Robotexts

The Federal Communications Commission has proposed a rule that would explore ways to require wireless carriers to block illegal text messages, similar to what the agency has done to combat illegal robocalls. Robotexts have become more prevalent, especially as regulators and technology providers have taken steps to keep robocalls from …

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