Tag Archives: CFPB

The Consumer Financial Protection Bureau yesterday released a final rule on the role of supervisory guidance, which clarifies the differences between regulations — which have the full force and effect of law — and guidance — which does not. A copy of the final rule can be accessed by clicking …

Yesterday, President-elect Joe Biden officially announced the nomination of Rohit Chopra to be the next director of the Consumer Financial Protection Bureau. Chopra has spent the past two-and-a-half years as a commissioner with the Federal Trade Commission, which, like the CFPB, has enforcement authority over the accounts receivable management industry. …

During the past four years, coincidentally linked with the start of the Trump administration, complaints filed by individuals with the Consumer Financial Protection Bureau that were resolved with the consumer receiving some form of financial restitution declined in neighborhoods where the majority of residents were minorities, according to a research …

The Consumer Financial Protection Bureau on Friday released a new resource related to its debt collection rule, this one aimed at helping smaller collection agencies comply with the rule once it goes into effect this November. At a brisk 87 pages, the Small Entity Compliance Guide to the Debt Collection …

Rohit Chopra is going to be nominated by President-elect Joe Biden to replace Kathleen Kraninger as the director of the Consumer Financial Protection Bureau, according to a number of reports citing anonymous sources. Chopra is currently a commissioner with the Federal Trade Commission and formerly worked at the CFPB as …

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The Consumer Financial Protection Bureau has released a series of guidelines for companies in the financial services industry when dealing with individuals for whom English may not be their primary language. The guidelines echo a similar rule that was enacted last year in New York City, but stop short of …

The change in control of the Senate means that there will be a new Sherrod in town in charge of the committee that most directly deals with debt collections, and Sen. Sherrod Brown [D-Ohio], the new chairman of the Senate Banking Committee, met with reporters yesterday to outline his agenda …

Be part of the solution, not the problem, the old saying goes. The Consumer Financial Protection Bureau is giving participants in the debt collection industry the opportunity to be part of the solution, but only if they are willing to do the work required to participate. The CFPB announced yesterday …

One of my favorite TV shows of all time is “The West Wing.” I have re-watched the series multiple times and can tell you what happens in just about any episode. In one episode, the staff is debating the best way to stimulate the economy and the president says, “… …