To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
Troutman Pepper Weekly Consumer Financial Services Newsletter
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
Federal Magistrate Recommends Dismissal of FDCPA and FCRA Case on Statute of Limitation and Reasonableness of Reporting Grounds
On November 9, a magistrate judge in the Northern District of Georgia issued a Report & Recommendation to grant a motion to dismiss because the plaintiff’s Fair Debt Collection Practices Act (FDCPA) claims were time-barred and the cause of action under the Fair Credit Reporting Act (FCRA) failed to state a claim.
Medical Debt Under the Microscope: Insights from the CFPB’s 2022 FDCPA Report
On November 16, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Fair Debt Collection Practices Act (FDCPA) Annual Report detailing the CFPB’s 2022 activities related to debt collection practices. This comprehensive document summarizes everything FDCPA-related undertaken by the agency during 2022, including enforcement actions, a summary of consumer complaints, education and outreach initiatives, and highlights from examinations it conducted. In addition to summarizing activities in the debt collection space from the past year, the report hints at potential future activities. Tellingly, the CFPB’s focus in 2022 was predominantly on medical debt, as highlighted by its press release announcing this report.
Second Circuit Affirms Dismissal of FDCPA Case Holding Plaintiff Prompted Communication at Issue
The U.S. Court of Appeals for the Second Circuit issued a summary order affirming a district court’s holding that an emailed response to the plaintiff’s email did not constitute an “initial communication” under the Fair Debt Collections Practices Act (FDCPA).
Arizona Federal District Court Holds MMS’s Are Not Prerecorded Messages Under the TCPA Unless They Play Automatically
A district court in the District of Arizona granted a motion to dismiss in a Telephone Consumer Protection Act (TCPA) case on the basis that multimedia messaging service (MMS) texts do not constitute prerecorded messages unless the audible component plays automatically upon opening.
Troutman Pepper Weekly Consumer Financial Services Newsletter
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
Big Tech in the CFPB’s Crosshairs: Bureau Proposes to Supervise Larger Technology Companies Offering Digital Wallets and Payment Apps
On November 7, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with request for public comment to amend existing regulations defining “larger participants” the CFPB supervises by adding a new section to define larger participants that offer digital wallets, payment applications, and similar services.
Troutman Pepper Weekly Consumer Financial Services Newsletter
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
Well, California Has Decided to Regulate Crypto
On October 13, California Governor Gavin Newsom (D) signed Assembly Bill 39 (Digital Financial Assets Law). This new law broadly empowers the California Department of Financial Protection and Innovation (DFPI) to govern “digital financial asset business activity” and prohibits entities from engaging in such activity with California residents without obtaining a license from the DFPI, among other criteria.