Compliance

Bill Introduced in House to Double Anti-Spoofing Fines

A bill has been introduced in the House of Representatives that would double the penalty for companies found to be manipulating the information on Caller ID as a means of combatting illegal robocalls. The bill, H.R. 6320, was introduced yesterday by Rep. Tom Rice [R-S.C.], and is a companion bill …

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CFPB Opens Inquiry into Buy Now Pay Later Offerings

The Consumer Financial Protection Bureau announced yesterday that it is shining its regulatory spotlight on a growing form of credit in the financial services industry — Buy Now Pay Later (BNPL) companies — and sent inquiries to five of the major providers asking for information “to illuminate the range of …

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Judge Denies Class Certification Motion in FDCPA Case

A District Court judge in Indiana has denied a plaintiff’s motion to certify a class in a Fair Debt Collection Practices Act lawsuit, ruling that the agreement between the plaintiff and his attorney renders the plaintiff an inadequate representative for the entire class while also criticizing the plaintiff’s attorney “regarding …

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NY DFS Issues Proposed Amendments to Debt Collection Regulation

The New York Department of Financial Services yesterday released its proposed amendment to the state’s debt collection regulation, which adopts some of what is included in Regulation F, while also introducing some new wrinkles that seek to protect consumers by putting them on “a path to financial well-being,” according to …

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Wash. AG Proposes Bill to Expand Charity Care

The Attorney General of Washington State is planning to introduce a bill during the next legislative session that seeks to increase the eligibility for full write-offs on out-of-pocket medical bills for more than 1 million residents of the state. A copy of the bill, HB 1616, which will be introduced …

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Judge Denies MTD in Amended CFPB Debt Collection Case

An Appeals Court judge, sitting in the District Court for the District of Delaware by designation, has denied a motion to dismiss filed by 15 defendants who were sued by the Consumer Financial Protection Bureau for engaging in illegal debt collection practices related to student loans, because the defense raised …

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CFPB Publishes Supervisory Highlights, Details Potential Issue with Misleading Credit Reporting Statements

CFPB Logo

The Consumer Financial Protection Bureau has published its latest Supervisory Highlights report, which “shines a light on legal violations” identified during CFPB examinations that were conducted during the first half of 2021 as well as publicizing prior supervisory findings that led to public enforcement actions during that timeframe. By and …

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Collectors Banned From Industry in Settlement with FTC

The remaining defendants in a lawsuit filed by the Federal Trade Commission have reached a settlement, under which they will be permanently banned from participating in the collection industry as well as surrender funds in a number of bank accounts and the title to a Mercedes as part of a …

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Compliance Digest – December 13

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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Chopra in Center of Dispute Brewing at Federal Bank Regulator

An interesting battle is brewing between the Consumer Financial Protection Bureau and the Federal Deposit Insurance Corp. that spewed out into the public last week, indicating that the regulators might not be on the same page and is being labeled as a “remarkable breakdown in trust.” Like many regulators, the …

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