Compliance

CFPB Proposes Delay in Enactment of Debt Collection Rule

CFPB Logo

The Consumer Financial Protection Bureau today announced it is issuing a Notice of Proposed Rulemaking aimed at delaying the effective date of Regulation F, its debt collection rule, until January 29, 2022. The rule was scheduled to go into effect on November 30, 2021. The rule was issued in two …

Read More »

Video: Answering More of Your Credit Reporting Questions

Compliance is not always binary. It is not always black-and-white. Sometimes, companies are going to have to make choices based on how risky or conservative they want to be. Those situations feature prominently in the latest episode of “Ask The Credit Reporting Expert” in which Sarah DeMoss, the Director of …

Read More »

False Threats Nets Collector Lifetime Ban from Industry

CFPB Logo

The Consumer Financial Protection Bureau yesterday announced it had entered into a consent order with a debt collector and its owner for falsely threatening to take legal action against individuals and that the company and the owner have been permanently banned from the industry and ordered to pay $860,000 in …

Read More »

CMS Services Launches Free Terms & Conditions Database With Agreements From Hundreds of Creditors Nationwide

CHICAGO — April 6 — CMS Services, a leading provider of compliance management services to the Accounts Receivable Management industry, is excited to announce the launch of its Bank Terms & Conditions portal, providing copies of the terms and conditions issued by hundreds of credit grantors and financial institutions nationwide …

Read More »

Appeals Court Overturns Ruling in FCRA Case

Once a customer, always a customer, the Eleventh Circuit Court of Appeals has ruled in reversing a lower court’s denial to compel arbitration in a Fair Credit Reporting Act case, determining that the defendant was not violating the law when it accessed a former customer’s credit report when he called …

Read More »

CFPB Issues NPRM Seeking to Halt Foreclosures Until 2022

The Consumer Financial Protection Bureau yesterday issued a Notice of Proposed Rulemaking (NPRM) that would prohibit mortgage servicers from starting foreclosure proceedings until 2022 while also providing servicers with the ability to offer streamlined loan modification options to homeowners who have been impacted by the COVID-19 pandemic. The NPRM follows …

Read More »

N.M. Gov. Signs Medical Debt Collection Bill Into Law

Gov. Michelle Lujan Grisham of New Mexico signed 50 bills into law yesterday, including one that aims to protect low-income residents of the state from incurring medical debts by preventing healthcare providers from placing collection accounts or filing lawsuits against certain low-income individuals, according to a published report.   The …

Read More »
X