The House of Representatives’ Financial Services Committee convened for a hearing last week entitled “Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses.” At the hearing, the Committee focused on a “discussion draft” of the Secure and Fair Enforcement Banking Act of 2019 (the “SAFE Banking Act”),
On February 7, 2019, AllianceOne Receivables Management, Inc. (“AllianceOne”), a debt collector, agreed to pay $2.2 million to settle a nationwide class action alleging violations of the Fair Credit Reporting Act (“FCRA”) for obtaining consumer reports on individuals with outstanding parking tickets without a permissible purpose.
The parties moved to approve the settlement after more
The Eighth Circuit recently provided a reminder that district courts must ensure Article III standing, including case and controversy requirements, exists throughout a case and not just when the complaint is filed. In Schumacher v. SC Data Ctr., Inc., No. 17-3112, 2019 U.S. App. LEXIS 505 (8th Cir. Jan. 8, 2019), the three
On February 13, the U.S. Chamber of Commerce released model data privacy legislation and urged Congress to pass a federal data privacy law.
“Technology has changed the way consumers and businesses share and use data, and voluntary standards are no longer enough,” said Tim Day, senior vice president of the Chamber’s Technology Engagement
On January 29, the Consumer Financial Protection Bureau released a snapshot report of consumer complaints to provide a high-level overview of the trends in complaints it has received over the past 24 months. The report is split into two sections – a summary of the volume of all consumer complaints received by the CFPB
On January 25, Consumer Financial Protection Bureau Director Kathleen L. Kraninger announced senior leadership changes within the Bureau, appointing five new members to the CFPB leadership team. Kraninger, a recent appointee by President Donald Trump, previously served in the White House Office of Management and Budget in the Trump Administration. The following individuals will join
The Texas House of Representatives recently introduced new legislation, H.B. No. 996, to amend the Texas Fair Consumer Debt Collection Act (“TFCDCA”) to require debt buyers to provide additional written disclosures to consumers regarding debt that could be subject to a statute of limitations defense in a collection action.
The proposed bill comes as
The Federal Reserve Board of Governors and the Federal Deposit Insurance Corporation (“FDIC”) issued a joint advisory making financial institutions aware of a recent change to the Fair Credit Reporting Act (“FCRA”) that provides that financial institutions may offer to remove defaults in private education loan borrowers’ consumer reports under an approved rehabilitation program.
On February 7, the Seventh Circuit Court of Appeals ruled in favor of the accounts receivable management industry, finding that a debt collector did not misrepresent the “character” of debt by reporting unpaid medical bills owed to a single provider separately rather than in the aggregate.
On January 31, 2019, Senator Mike Azinger introduced Senate Bill 495 to the West Virginia Legislature (referred to the Judiciary Committee). The Bill proposes amendments to the West Virginia Consumer Credit and Protection Act (“WVCCPA”), W. Va. Code § 46A-5-101, which are intended to “bring the Act in conformity with the federal Fair Debt Collection