Compliance

CFPB Sues Debt Settlement Company

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The Consumer Financial Protection Bureau yesterday filed a lawsuit against a debt settlement company, alleging it engaged in abusive and deceptive acts and practices by charging fees before it performed any services and collecting higher fees than it was supposed to. A copy of the complaint against DMB Financial, LLC, …

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CFPB Launches Advisory Opinion Program

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The Consumer Financial Protection Bureau yesterday announced that it has finalized a program where it will offer advisory opinions — guidance, essentially — to help companies in the financial services industry receive clarity where there may be some uncertainty about how to comply with a certain rule. Along with announcing …

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Compliance Digest – November 30

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H. Bedard, Jr., or call (678) 253-1871. Every week, …

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FTC Secures $24M Judgment Against Collection Agency

A $24 million judgment has been entered against a collection agency and one of the agency’s co-owners has been ordered to divest himself of his ownership stake in the company that purchased the collection agency in question after it was accused by the Federal Trade Commission of collecting on “phantom” …

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