As we discussed last year, the Federal Trade Commission announced in May 2014 that it settled charges against Asset Capital and Management Group for illegally extracting payments from consumers for credit card debt that it had purchased from creditors.

In addition to banning the defendants – which includes individuals behind the scheme, a network

In Marks v. Crunch San Diego, LLC, Judge Bashant, a district court judge for the Southern District of California, found that the FCC lacks the authority to change the statutory definition of “automated telephone dialing system” (“ATDS”) under the TCPA.  Judge Bashant determined that the FCC only has rulemaking authority over sections 227(b) and

Earlier today a bipartisan bill was introduced into the US House of Representatives which would require the CFPB to create an advisory panel of small financial services companies similar to other boards the Bureau has created.  The Bureau of Consumer Financial Protection Small Business Advisory Board Act, introduced by Rep. Robert Pittenger, R-N.C., and

On March 31, the CFPB released a Small Entity Compliance Guide for its integrated disclosure rule for the Truth in Lending (TILA) and Real Estate Settlement Acts (RESPA).  The CFPB issued the final rule in November to integrate the initial and final mortgage loan disclosures under TILA and RESPA. The final rule appeared in the

On March 5, 2014, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed a joint amicus brief in Buchanan v. Northland Group Inc., No. 13–2523 (6th Cir. Mar. 5, 2014), a putative consumer FDCPA class action challenging collection practices related to debts that were time barred (i.e., for which the