Join Chris Willis and his colleague Stefanie Jackman as they delve into the recent amendments to New York City’s debt collection rules. In this episode of The Consumer Finance Podcast, they discuss the significant changes, including communication restrictions, validation requirements, and the expanded coverage to include creditors. Learn about the implications for both creditors and debt collectors, the enforcement mechanisms, and the ongoing legal challenges. Stay informed and prepared for the April 1, 2025, enforcement date.

Late last year, we discussed the Federal Communications Commission’s (FCC) new rule aimed at closing the “lead generator” loophole by requiring telemarketers to obtain one-to-one consent from consumers for robocalls and robotexts. This rule mandates that consent must be provided for each individual seller or brand, rather than allowing a single consent to apply to multiple telemarketers. The rule also includes requirements for clear and conspicuous disclosures and ensures that robocalls and robotexts are logically and topically related to the interaction that prompted the consent. The new rule also permits blocking “red flagged” robotexting numbers, codifies do-not-call rules for texting, and encourages an opt-in approach for delivering email-to-text messages.

The New Mexico Supreme Court recently confirmed consumer standing to pursue state law claims against a credit union after it pursued debt collection lawsuits against its members in the New Mexico magistrate courts. Several members filed a class action lawsuit against the credit union for the unauthorized practice of law and under the Unfair Practices Act (UPA), but the trial court dismissed the case, finding the plaintiffs lacked standing. The court of appeals reversed and the Supreme Court affirmed, finding the plaintiffs had standing to bring claims under both the statute prohibiting the unlicensed practice of law and the UPA.

Recently, a U.S. District Court in the District of New Mexico denied a defendant’s motion for summary judgment on Telephone Consumer Protection Act (TCPA) claims for telemarketing calls, finding genuine questions of fact about the defendant’s direct liability, actual authority over agents making the calls, whether the system used to make the calls is an Automatic Telephone Dialing System (ATDS), and whether there is a private right of action under 47 C.F.R. § 64.1200(d)(4). The court granted summary judgment only on claims regarding apparent authority for the agents who called and ratification of the agents’ actions.

In this episode of FCRA Focus, hosts Kim Phan and Dave Gettings welcome Mark Furletti, co-leader of Troutman Pepper’s Consumer Financial Services Regulatory practice. Mark shares his extensive knowledge on the Fair Credit Reporting Act (FCRA) and provides practical advice on how companies, especially fintechs, can operate without becoming a consumer reporting agency (CRA) under the FCRA. The discussion delves into the intricate definitions within the FCRA, common pitfalls, and best practices. Tune in to learn how to navigate the regulatory landscape and mitigate risks associated with consumer report information. Don’t miss this insightful conversation packed with tips and real-world examples.

On November 14, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a significant consent order against Global Tel Link Corporation (GTL), a company that provides communication and financial services to correctional facilities. The CFPB found that GTL, along with its subsidiaries Telmate, LLC and TouchPay Holdings, LLC, engaged in illegal practices that adversely affected incarcerated individuals and their friends and families.

On November 13, Representative Gary J. Palmer (R-AL) introduced House Joint Resolution 220, which seeks congressional disapproval of an advisory opinion published by the Consumer Financial Protection Bureau (CFPB or Bureau) relating to medical debt collection practices.

On November 12, the U.S. Court of Appeals for the Fifth Circuit denied a request from Community Financial Services Association of America (CFSA) and the Consumer Services Alliance of Texas to reopen their legal challenge against the Consumer Financial Protection Bureau’s (CFPB) payday loan rule. This decision effectively clears the path for the rule to be implemented.

On November 13, the Consumer Financial Protection Bureau (CFPB or Bureau) released a pilot study titled “Matched-Pair Testing in Small Business Lending Markets” highlighting what the CFPB believes were two statistically significant disparities in the treatment of Black and white small business owners seeking loans. First, the secret shopping study indicated that Black entrepreneurs were less encouraged by small business lenders to apply for loans. Specifically, such lenders expressed interest in obtaining loan applications from 40% of white participants, but only 23% of Black participants. Second, the study found that Black participants were more frequently steered toward alternative financing products — such as business credit cards or real estate-secured loans — compared to their white counterparts with similar or weaker business credit profiles. Specifically, non-requested or alternative credit products were discussed with 59% of Black participants, compared to 39% of white participants.