On August 27, the Federal Trade Commission (FTC) announced an update to the fees telemarketers must pay to access phone numbers on the National Do Not Call (DNC) Registry for the fiscal year 2025. The revised fees will take effect on October 1, 2024.
Yesterday, the U.S. District Court for the Southern District of Texas granted the Consumer Financial Protection Bureau’s (CFPB or Bureau) motion for summary judgment on all Administrative Procedure Act (APA) challenges brought by several trade associations to the CFPB’s Final Rule under § 1071 of the Dodd-Frank Act, the “Small Business Lending Data Collection Rule” (Final Rule).
In a recent ruling, a U.S. District Court for the Central District of California granted a defendant’s motion to dismiss a complaint brought under the Telephone Consumer Protection Act (TCPA). The complaint alleged that the plaintiff received multiple communications from the defendant despite not having provided prior consent and being on the National Do-Not-Call Registry. The court found that the communications were not “solicitations” under the TCPA because the messages were aimed at recruiting the plaintiff for employment and that the complaint insufficiently alleged that the defendant used an automated telephone dialing system (ATDS) or that the voicemail was prerecorded.
A proposed class action lawsuit has been filed in the U.S. District Court for the Northern District of California against EarnIn, a FinTech provider of Earned Wage Access services, alleging that its optional fees and tips constitute hidden interest payments. The complaint claims that EarnIn’s practices violate Georgia’s Payday Loan Act and the federal Truth in Lending Act (TILA).
In this special crossover episode of Payments Pros and The Consumer Finance Podcast, Carlin McCrory, Keith Barnett, and Chris Willis are joined by Jason Cover and Mark Furletti to discuss the Consumer Financial Protection Bureau’s (CFPB) proposed interpretive rule on earned wage access (EWA) products. EWA allows employees to access wages they have earned before payday, with two main models: employer-integrated and direct-to-consumer. The conversation explores the differences between EWA and payday lending, emphasizing that EWA typically does not involve finance charges or obligations to repay.
In this special crossover episode of Payments Pros and The Consumer Finance Podcast, Carlin McCrory, Keith Barnett, and Chris Willis are joined by Jason Cover and Mark Furletti to discuss the Consumer Financial Protection Bureau’s (CFPB) proposed interpretive rule on earned wage access (EWA) products. EWA allows employees to access wages they have earned before payday, with two main models: employer-integrated and direct-to-consumer. The conversation explores the differences between EWA and payday lending, emphasizing that EWA typically does not involve finance charges or obligations to repay.
Dear Mary,
I recently experienced a security incident at my company and am considering whether to report it to law enforcement. While I want to cooperate and help catch the cybercriminals responsible, I am worried that law enforcement might come after my company for… I am not exactly sure what.
What should I do?
– Not Guilty
In the latest episode of The Crypto Exchange, host Ethan Ostroff is joined by Addison Morgan to discuss a groundbreaking initiative by the California Department of Motor Vehicles (DMV) to digitize 42 million car titles using the Avalanche blockchain network. This move allows users to claim, track, and manage digital titles via the DMV’s application, reducing transfer times from two weeks to just minutes.
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
In this episode of FCRA Focus, host Kim Phan is joined by fellow Troutman Pepper partner Stefanie Jackman and Michelle Macartney, managing partner and chief compliance officer at Bridgeforce. Together, they delve into the complexities of reporting collections activity to consumer reporting agencies. Michelle shares her extensive experience in consumer reporting compliance, offering valuable insights into the challenges and best practices for maintaining data accuracy and handling disputes. The discussion also covers the latest CFPB draft rulemaking on medical debt and its implications for consumer reporting agencies, end users, and furnishers. Tune in to learn how to navigate the intersection of FCRA and debt collection as well as discover effective compliance strategies to mitigate risks in today’s regulatory environment. Don’t miss this informative episode packed with practical tips and industry updates!