In July 2015, several companies that were the targets of non-public Consumer Financial Protection Bureau investigations sued the Bureau after it refused to allow their current counsel to attend the Bureau’s investigative testimony of one of the companies’ former attorneys. The companies wanted one of their current attorneys to attend the testimony and assert the
CFPB Director’s Remarks at MBA Annual Convention: Progress, Updated HMDA Reporting, and Warning to Parties Engaged in Marketing Services Agreements
Consumer Financial Protection Bureau Director Richard Cordray addressed the Mortgage Bankers Association at its Annual Convention on October 19. In his remarks, Cordray:
- Summarized the progress the CFPB has made in addressing the serious problems confronting consumers in the mortgage market and steps taken by the Bureau to restore the American Dream of homeownership;
CFPB Holding Consumer Advisory Board Meeting in October; Topics Will Include Arbitration
The Consumer Financial Protection Bureau announced that it will hold a meeting of the Consumer Advisory Board with Director Richard Cordray discussing topics such as arbitration, trends, and themes in the marketplace, and reaching limited English-speaking consumers.
The meeting will take place on Thursday, October 22, from 10:00 a.m. until 3:30 p.m. EDT in the
Federal Court in Illinois Holds That Display of Debtor’s Account Number on Envelope Violates FDCPA
On September 30, Judge Joan B. Gottschall of the Northern District of Illinois issued a decision stating that the display of a debtor’s account number through an envelope window violated the Fair Debt Collection Practices Act.
In Adkins v. Financial Recovery Services, Inc., the plaintiff filed a class action suit in Illinois on behalf
Two Speeches in Three Days: Protecting Privacy and Consumer Data in the Digital Age is FTC Priority
Federal Trade Commissioner Julie Brill promoted the FTC’s role as the nation’s leading consumer protection and privacy agency with respect to Internet, social media, and smartphone technology in two recent speeches occurring over a three–day span. In both speeches, Brill referenced and reiterated the FTC’s concerns regarding data collection, the interface of
House Financial Services Committee to Vote This Week on Bills to Reform the CFPB
The House Financial Services Committee is expected to vote Wednesday on bills to replace the Consumer Financial Protection Bureau’s sole director with a bipartisan, five-member commission (H.R. 1266) and require Senate confirmation for the CFPB’s inspector general (H.R. 957).
As we discussed here, The Financial Product Safety Commission Act (H.R. 1266), introduced on March
CFPB Director Cordray to Present Latest Semi-Annual Report to Congress on September 29
At 10:00 a.m. EDT on September 29, Richard Cordray, Director of the Consumer Financial Protection Bureau, will testify at a House Financial Services Committee hearing to present the CFPB’s latest semi-annual report.
Cordray last appeared before this House committee in March 2015. During that hearing, U.S. Rep. Randy Neugebauer announced the introduction of a bill
CFPB to Hold Field Hearing on Arbitration in Denver on October 7, 2015
The Consumer Financial Protection Bureau has announced that it will be holding a field hearing on arbitration in Denver, Colorado on Wednesday, October 7 at 11:00 a.m. MDT.
The CFPB’s March 10, 2015 Consumer Arbitration Study has come under scrutiny from the financial services industry. Many believe the CFPB has already concluded that there are
CFPB Appoints New Members to the Consumer Advisory Board, Community Bank Advisory Council, and Credit Union Advisory Council
On September 18, the Consumer Financial Protection Bureau announced the appointment of new members to the Consumer Advisory Board, Community Bank Advisory Council, and Credit Union Advisory Council.
“These advisory bodies play a crucial role in ensuring that the Bureau is addressing the wide variety of perspectives in the consumer financial marketplace,” said CFPB Director
FTC Urges Start-Ups to Incorporate Cybersecurity Early
The Federal Trade Commission is proactively encouraging start-ups to take cybersecurity seriously and include consumer data safeguards early in the innovation process. At the FTC’s Start with Security conference in San Francisco on September 9, FTC Chairwoman Edith Ramirez called on innovators to instill a “culture of security” early in the product development lifecycle.
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