Beginning in June, the Consumer Financial Protection Bureau will provide the public with access to the meetings of the Consumer Advisory Board (CAB)and the CFPB’s three Councils. Anyone may attend or watch the full meetings live online the same way most other agencies allow under the Federal Advisory Committee Act.
As we previously discussed,
In Bickley v. Dish Network, the Sixth Circuit on May 13, 2014 affirmed the dismissal of a claim for violating the Fair Credit Reporting Act for accessing a credit report without a permissible purpose. Dish Network accessed the plaintiff’s credit report to investigate whether the person attempting to order satellite television service using plaintiff’s
On May 9, 2014, U.S. Representative Matt Cartwright introduced H.R. 4624 to amend the Fair Debt Collections Practices Act to prohibit a court from awarding costs to a prevailing defendant in the absence of a finding that an action was brought in bad faith.
This legislation is in response to the United States Supreme Court’s
The Indiana Court of Appeals addressed an issue of first impression by holding that out-of-state companies must have an Indiana location before they need to obtain a license under Indiana’s Uniform Consumer Credit Code (IUCCC). Therefore, a collection agency with its principal place of business in another state is only required to obtain a license
The two principal owners of Rincon Debt Management – Jason R. Begley and Wayne W. Lunsford – will surrender more than $3.3 million worth of assets that will be used to provide refunds to victims under a settlement with the Federal Trade Commission. In addition to the permanent ban from the debt collection business
The CFPB posted Regulation Z, which implements the Truth in Lending Act, on its eRegulations platform. The posting brings together all materials related to the regulation on a single website. Users of eRegulations can view the currently effective regulation text, search past and present versions of regulations, compare two versions of the regulation,
On April 7, 2014, the United States District Court in the Eastern District of Virginia declined to dismiss a class action under the Fair Credit Reporting Act as moot because it could not conclude with certainty that an offer of judgment under Rule 68 afforded complete relief.
A recently passed bill by the West Virginia Legislature requires debt collectors to make new disclosures in initial letters to consumers. Effective June 6, 2014, section 46A-2-128(f) of the West Virginia Consumer Credit Protection Act (WVCCPA) is amended to require the initial written communication with a consumer to disclose the subject debt is beyond the
Two data brokers settled charges brought by the FTC for $1.5 million based on allegations that they violated the Fair Credit Reporting Act (FCRA) when selling consumer data.
The FTC alleged the companies operated as consumer reporting agencies when providing reports about consumers to users such as prospective employers and landlords. The complaints filed by
In a speech at the Consumer Bankers Association, CFPB Deputy Director Steve Antonakes discussed the nonbank segments of the financial services industry where the CFPB recently has expanded its supervision, including debt collection, student loan servicing, and large nonbank auto lenders.
Antonakes cited the receipt of more than 20,000 consumer complaints in March 2014 as