Consumer Financial Services Law Monitor

Consumer Financial Services Law Monitor

monitoring the financial services industry to help companies navigate through regulatory compliance, enforcement, and litigation issues

CFPB Director Discusses Perceived Benefits of Public Complaint Database

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ACA International’s 75th Annual Convention & Expo

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CFPB Adds Narrative to Complaint Database

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CFPB Issues Interpretative Rule to Assist Heirs Taking Over Mortgages

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Plaintiff has Standing to Sue Under FDCPA for Misrepresentation He Never Knew About

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CFPB Adds Narrative to Complaint Database

By Scott Kelly on July 18, 2014

The Consumer Financial Protection Bureau has announced a new proposal that will allow consumers the option to share a narrative of “what happened” in the CFPB’s public-facing Consumer Complaint Database.  According to the CFPB, this new feature would “empower consumers to publicly voice their complaints about consumer financial products and services” and “provide important context...
CFPB Issues Interpretative Rule to Assist Heirs Taking Over Mortgages
9th Circuit Adopts FCC Opinion and Opens Door for Vicarious Liability Claims Under TCPA
Congress and CFPB Continue to Tweak Definition of “Qualified Mortgage”
Cordray Testifies before Senate Committee Regarding CFPB’s Semi-Annual Report

CFPB Begins Oversight of Prepaid-Card Complaints

By Scott Kelly on July 22, 2014

The Consumer Financial Protection Bureau will begin looking into complaints about prepaid cards – including gift cards, benefit cards, and general purpose reloadable cards – the Bureau announced Monday.  Consumers can also now submit complaints about additional nonbank products, including debt settlement services, credit repair services, and pawn and title loans. The CFPB already investigates...
CFPB Adds Narrative to Complaint Database
CFPB Sues Credit-Card Collection Lawsuit Mill
9th Circuit Adopts FCC Opinion and Opens Door for Vicarious Liability Claims Under TCPA
Industry Groups Oppose CFPB Initiative to Conduct Telephone Survey of Credit Card Holders

ACA International's 75th Annual Convention & Expo

By Ethan G. Ostroff on July 21, 2014

Celebrate the industry's past, present and future while enjoying dazzling Chicago. Featuring a dynamic line-up of engaging speakers including Karl Rove and Ken Schmidt, exciting musical guests KC and The Sunshine Band, 40+ innovative educational sessions and a jam-packed Expo Hall, this is a must-attend event. There's still time to register, so make plans to...
CFPB Adds Narrative to Complaint Database
Plaintiff has Standing to Sue Under FDCPA for Misrepresentation He Never Knew About
CFPB Sues Credit-Card Collection Lawsuit Mill
Michigan Supreme Court Expands Definition of "Collection Agencies” to Include Forwarders

CFPB Adds Narrative to Complaint Database

By Scott Kelly on July 18, 2014

The Consumer Financial Protection Bureau has announced a new proposal that will allow consumers the option to share a narrative of “what happened” in the CFPB’s public-facing Consumer Complaint Database.  According to the CFPB, this new feature would “empower consumers to publicly voice their complaints about consumer financial products and services” and “provide important context...
9th Circuit Adopts FCC Opinion and Opens Door for Vicarious Liability Claims Under TCPA
Amicus Briefs Join the Push for Supreme Court Review of “No Injury” Class Actions
FTC Settles With Consumer Credit Reporting Agency Over CROA Violation
Cordray Testifies before Senate Committee Regarding CFPB’s Semi-Annual Report

CFPB Adds Narrative to Complaint Database

By Scott Kelly on July 18, 2014

The Consumer Financial Protection Bureau has announced a new proposal that will allow consumers the option to share a narrative of “what happened” in the CFPB’s public-facing Consumer Complaint Database.  According to the CFPB, this new feature would “empower consumers to publicly voice their complaints about consumer financial products and services” and “provide important context...
9th Circuit Adopts FCC Opinion and Opens Door for Vicarious Liability Claims Under TCPA
CFPB Announces Spring 2014 Rulemaking Agenda and More...
CFPB Succumbs to Pressure, Opens Advisory Board and Council Meetings to Public
CFPB Director Cordray Praises Auto Lender’s Move to Flat Fee Dealer Markup

CFPB Adds Narrative to Complaint Database

By Scott Kelly on July 18, 2014

The Consumer Financial Protection Bureau has announced a new proposal that will allow consumers the option to share a narrative of “what happened” in the CFPB’s public-facing Consumer Complaint Database.  According to the CFPB, this new feature would “empower consumers to publicly voice their complaints about consumer financial products and services” and “provide important context...
9th Circuit Adopts FCC Opinion and Opens Door for Vicarious Liability Claims Under TCPA
CFPB Announces Spring 2014 Rulemaking Agenda and More...
CFPB Succumbs to Pressure, Opens Advisory Board and Council Meetings to Public
Bill Passed in New Jersey to Regulate Service Contract Issuers

CFPB Begins Oversight of Prepaid-Card Complaints

By Scott Kelly on July 22, 2014

The Consumer Financial Protection Bureau will begin looking into complaints about prepaid cards – including gift cards, benefit cards, and general purpose reloadable cards – the Bureau announced Monday.  Consumers can also now submit complaints about additional nonbank products, including debt settlement services, credit repair services, and pawn and title loans. The CFPB already investigates...
CFPB Adds Narrative to Complaint Database
Seventh Circuit Ruling Provides Further Support That Supreme Court’s Comcast Decision Does Not Preclude Individual Damages Inquiries
9th Circuit Adopts FCC Opinion and Opens Door for Vicarious Liability Claims Under TCPA
Cordray Testifies before Senate Committee Regarding CFPB’s Semi-Annual Report

CFPB Director Discusses Perceived Benefits of Public Complaint Database

By David M. Gettings on July 23, 2014

The Consumer Financial Protection Bureau has announced an initiative to allow consumers to contribute a public “narrative of their own experiences” when posting to the CFPB’s Consumer Complaint Database.  We discussed the creation of this narrative section in our July 18 blog titled “CFPB Adds Narrative to Complaint Database.”  Recently, Richard Cordray, Director of the CFPB,...
CFPB Begins Oversight of Prepaid-Card Complaints
ACA International's 75th Annual Convention & Expo
CFPB Adds Narrative to Complaint Database
CFPB Issues Interpretative Rule to Assist Heirs Taking Over Mortgages