- On May 1, the Consumer Financial Protection Bureau (CFPB) proposed a rule to implement a
Washington Robocall Bill Signed Into Law
As discussed here, on April 7, the Washington State legislature passed HB 1051, also known as the Robocall Scam Protection Act, expanding the scope of existing provisions of Washington’s consumer protection laws regulating robocalls and telephone solicitations to prohibit abusive telephone communication practices. On April 20, Governor Inslee signed the bill into law. It
Troutman Pepper Weekly Consumer Financial Services Newsletter
- On April 21, the Federal Reserve issued initial findings from its 2022 triennial payments study,
New York Department of Financial Services Adopts Virtual Currency Assessments Regulation
On April 17, the Superintendent of the New York Department of Financial Services (NYDFS), Adrienne A. Harris, announced that the NYDFS adopted a final regulation establishing how companies with NYDFS-issued BitLicenses will be assessed for costs of their supervision examination.
During the public comment period for the proposed regulation, the NYDFS received four comments, but
Troutman Pepper Weekly Consumer Financial Services Newsletter
- On April 15, House of Representatives document repository published a new draft bill that would
Troutman Pepper Weekly Consumer Financial Services Newsletter
- On April 7, U.S. District Judge Katherine Polk Failla denied the Consumer Financial Protection Bureau
Utah’s H.B. 20 Signed into Law, Reducing Red Tape for Debt Collection Agencies
In a significant boost to the financial services industry, Utah has taken major steps to streamline its debt collection bureaucracy — including the removal of criminal penalties for failure to comply with technical requirements.
Utah House Bill 20, titled “Collection Agency Amendments,” was signed into law last month and goes into effect May 3
DOJ Seizes Over $112 Million in Funds Linked to Cryptocurrency Investment Schemes
On April 3, the U.S. Department of Justice (DOJ) announced that it has seized virtual currency worth an estimated $112 million linked to cryptocurrency investment scams. Seizure warrants for six virtual currency accounts were authorized by judges in the District of Arizona, the Central District of California, and the District of Idaho. The virtual currency
Illinois State Court Finds Debt Collector’s Communication to Letter Vendor Was Not Made in Connection With the Collection of a Debt
On March 15, Judge Eve M. Reilly of the Circuit Court of Cook County, Illinois, dismissed a class action complaint based solely on the allegation that a collection letter was sent by a third-party letter vendor.
In Stallworth v. Terrill Outsourcing Group, LLC et al, the plaintiff alleged that the debt collector communicated her
Federal District Court Grants Summary Judgment Dismissing Claim that Creditor Conducted an Unreasonable Investigation of a FCRA Credit Reporting Dispute
In Suluki v. Credit One Bank, N.A. (Credit One), the Southern District of New York recently granted summary judgement to a creditor in a suit alleging violations of the Fair Credit Reporting Act (FCRA) for failure to conduct a reasonable investigation into plaintiff’s dispute claiming identity theft.
The plaintiff claimed that while she was away