On September 19, USTelecom — The Broadband Association (USTelecom), a major telecommunications trade organization, sent a letter to the Federal Communications Commission (FCC) expressing its concerns about the proposed enhancements to anti-robocall regulations. USTelecom’s primary contention is that the proposed rules, which aim to extend the do-not-originate (DNO) requirement, could inadvertently block legitimate calls, including emergency communications. The association argues that the current industry practices already effectively block calls from invalid, unallocated, and unused numbers, as well as numbers on the DNO list managed by the USTelecom-led Industry Traceback Group (ITG).

On September 24, the Consumer Financial Protection Bureau (CFPB or Bureau) announced a significant development in its efforts to implement open banking rules in the United States. The Bureau has initiated a public comment process for the first application from an organization seeking recognition as an open banking standard-setter.

Today, the Consumer Financial Protection Bureau (CFPB or Burau) released its annual report detailing the financial challenges faced by servicemembers, veterans, and military families. In 2023, this group submitted nearly 84,600 complaints to the CFPB, representing a 27% increase from 2022 and a 98% increase from 2021. The report highlights issues with student loan servicing, transcript withholding by educational institutions, and a rise in scams targeting older veterans.

Join Kim Phan, co-host of the Troutman Pepper podcast, FCRA Focus, as she welcomes special guests from the Credit Builders Alliance (CBA). In this episode, Chief Technical Officer Elisabeth Johnson-Crawford and Manager of Bureau Services Arinze Nwadiogbu, share their insights on the challenges and strategies for smaller entities in credit reporting. Learn about the benefits of credit reporting, the legal risks involved, and the comprehensive support CBA provides to its nonprofit members. From initial setup to ongoing compliance, discover how CBA helps organizations navigate the complexities of the credit reporting system. Tune in for an in-depth discussion on FCRA compliance, alternative data, and more. Don’t miss this informative episode packed with valuable advice and practical solutions for credit reporting success.

In Aley v. Lightfire Partners, LLC, a U.S. District Court in the Northern District of New York certified aa Telephone Consumer Protection Act (TCPA) class action for all persons whose telephone numbers were on the National Do Not Call Registry (DNC) but who received more than one telemarketing call from the defendant based on alleged consent given to a third-party website.

On September 18, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a set of frequently asked questions (FAQs) providing guidance on applying Regulation Z requirements to Pay-in-Four Buy Now, Pay Later (BNPL) products accessed through digital user accounts (DUAs). These FAQs follow the Bureau’s interpretive rule issued in May of this year, subjecting BNPL transactions to provisions of Regulation Z applicable to “credit cards.”

In this special crossover episode of The Consumer Finance Podcast and Moving the Metal, Troutman Pepper attorneys Brooke Conkle and Chris Capurso discuss the Consumer Financial Protection Bureau’s (CFPB) new report on negative equity in auto lending. This report, the first of its kind, utilizes data from the CFPB’s 2023 Auto Finance Data Pilot, which was issued to major banks, finance companies, and captive lenders. Brooke and Chris analyze the impact of the report, including what the report may indicate for the CFPB’s upcoming priorities.

On September 17, the Consumer Financial Protection Bureau (CFPB or Bureau) published Circular 2024-05 (Circular) addressing whether a financial institution violates the Electronic Fund Transfer Act (EFTA) and Regulation E by charging overdraft fees for ATM and one-time debit card transactions without proof of the consumer’s affirmative consent to enrollment in covered overdraft services. (According to the CFPB’s press release, the Bureau considers this to be a “phantom opt-in.”) The Bureau’s response is clear: Yes, charging fees in these circumstances can indeed constitute a violation of EFTA and Regulation E.

In a recent ruling, the District of Colorado granted several motions to dismiss filed by the developers and owners of cryptocurrency application Atomic Wallet, citing a lack of personal jurisdiction. This decision effectively ends a class action litigation involving the alleged theft of cryptocurrency assets by North Korean hackers.

According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA) and Telephone Consumer Protection Act (TCPA) were down for the month of July, but filings the under Fair Debt Collection Practices Act (FDCPA) and complaints filed with the Consumer Financial Protection Bureau (CFPB) were up for the month. Year-to-date everything is up compared to 2023, particularly CFPB complaints which have increased over 90% year-to-date!