According to a recent announcement, Mastercard will begin providing customers with additional details about their purchases, such as the merchant’s name, logo, and location of purchase. Mastercard is inviting merchants to upload their logos to Ethoca, after which the logos will be linked to the corresponding transaction in digital banking applications. The service
On January 21, the CFPB issued a Small Entity Compliance Guide summarizing the October 2020 Debt Collection Rule. The Debt Collection Rule amends Regulation F, 12 CFR Part 1006 and becomes effective on November 30, 2021. The Debt Collection Rule governs the activities of debt collectors under the Fair Debt Collection Practices Act (FDCPA).
The
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can
On January 21, Colorado Governor Jared S. Polis signed Senate Bill 21-002 into law. This bill modifies the limitations of certain debt collection actions enacted in Senate Bill 20-211, most notably extending the moratorium on extraordinary collection actions from February 1, 2021 to June 1, 2021.
In more detail, Senate Bill 21-002 states that
On January 20, the White House announced the acting agency leadership in the next phase of the transition of government. As part of that transition, President Joe Biden appointed Dave Uejio to serve as the acting director of the Consumer Financial Protection Bureau (CFPB). This news followed on the same day Director Kraninger, appointed by
On January 20, 2021, the Southern District of New York granted Emmanuel Torres’ (“Torres”) motion to remand to state court, holding that Wakefield & Associates’ (“Wakefield”) and Rural Metro Ambulance Corporation’s (“Rural Metro”) argument for removal did not constitute “complete preemption.”
In Torres v. Wakefield & Assocs., Torres filed a complaint in the New
On January 21, 2021, the United States District Court for the Northern District of Illinois granted TransUnion Data Solutions LLC’s (“Trans Union”) motion for judgment on the pleadings, denying Blue Sobenes’ (“Sobenes”) claims against Trans Union under sections 1681i(a) and 1681e(b) of the Fair Credit Reporting Act (“FCRA”).
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can
On January 14, 2021, the Court of Common Pleas in Cuyahoga County, Ohio denied a healthcare foundation’s motion to dismiss, ruling that healthcare clinics and hospitals are not “physicians,” as that term is defined in the Ohio Consumer Sales Practices Act, and accordingly, are not exempt from liability resulting from consumer transactions. The case, Brakle
On January 11, 2021, Maryland Attorney General Brian Frosh released a report detailing the state’s recommendations to help Maryland residents recover from the severe impacts of COVID-19. The report was issued by the COVID-19 Access to Justice Task Force and outlined a holistic approach by making 59 legislative and policy recommendations. The Access to Justice