On December 11, the Consumer Financial Protection Bureau released a report and accompanying press release regarding the intersection of medical debt and credit reporting. This report reveals the staggering impact medical debt has on the credit reports of millions of Americans.
The CFPB views medical debt as unique among debts because of the unpredictability by
On December 15, the Consumer Financial Protection Bureau published its annual report on joint credit card agreements between colleges and financial institutions. The report showed a nearly seventy percent (70%) decline in the number of agreements since Congress passed new disclosure requirements in 2009. In 2009, Congress passed the Credit Card Accountability, Responsibility, and Disclosure
The FTC announced this week that it was bringing claims against two auto dealership chains alleging that they had violated the terms of two 2012 administrative orders prohibiting the dealerships from misrepresenting financing and lease terms in their advertising.
First, the FTC sued the Billion Auto dealerships – a chain of 20 dealerships in Iowa,
On January 15-16, 2015, the American Conference Institute (ACI) will host the 15th installment of the acclaimed Global Legal & Compliance Forum on Cyber Security & Data Privacy and Protection at the Washington Plaza Hotel in Washington, D.C. This is a premier event for privacy officers, in-house counsel, senior executives, and outside attorneys specializing
On December 11, 2014, the U.S. District Court for the Northern District of Illinois dismissed a proposed class action over a June 2014 data breach at P.F. Chang’s China Bistro, finding that no actual harm had been alleged. The court tossed a pair of consolidated complaints claiming that the restaurant chain failed to properly safeguard
In the latest of a series of “whodunit” cases, the United States District Court for the Southern District of Ohio held that a subscriber who did not answer a single call that allegedly violated the Telephone Consumer Protection Act still had standing to sue under the statute. In Maraan v. Dish Network LLC (Civil Action
On December 11, 2014, the Consumer Financial Protection Bureau (CFPB) issued a report and announced that it will be requiring major credit reporting agencies (CRAs) to provide regular reports to the CFPB identifying, by name, potentially problematic furnishers of information. In other words, the CFPB will be co-opting the major CRAs into helping the CFPB
As we previously reported here, the Consumer Financial Protection Bureau’s settlement with DriveTime provides several warnings to financial services institutions regarding their fair credit reporting and fair debt collection compliance. In a recent piece published in Law360, available here, Troutman Sanders attorneys Alan Wingfield, Paige Fitzgerald, and Nick Klaiber elaborated on their analysis
On December 11, the Consumer Financial Protection Bureau issued an advisory warning to consumers about student loan debt relief companies. While the CFPB warns all student borrowers, in distress or otherwise, to steer clear of companies with aggressive marketing tactics that make promises that they can save student borrowers thousands of dollars on student loan
On December 4, the Consumer Financial Protection Bureau asked a federal district court to approve a settlement with a New Jersey debt settlement firm that would require the firm to pay a fine of $69,075 for allegedly charging consumers illegal upfront fees for debt-settlement services they never received.
The proposed consent order was filed in