On June 23, Commissioner Christine Wilson, a Republican appointee, confirmed that she has agreed to use the Federal Trade Commission’s (FTC) rulemaking authority to craft comprehensive data privacy regulations. With Commissioner Wilson’s agreement, there is an even stronger chance that the FTC will engage in privacy-related rulemaking, especially since recently appointed FTC Chair Lina Khan

On June 4, the Consumer Financial Protection Bureau (CFPB) issued a frequently asked question and answer guide. Regulation E, in part, establishes limitations on a consumer’s liability and requires investigations of consumers’ claims of unauthorized electronic fund transfers. This FAQ concerns unauthorized transfers governed by Regulation E.

The first and second questions deal with

On June 26, Minnesota Governor Tim Walz signed into law a bill that expands the regulation of the accounts receivable management industry to include debt buyers and affiliated companies.

Under HF 6, “debt buyers” are defined as businesses “engaged in the purchase of any charged-off account, bill, or other indebtedness for collection purposes, whether

In Johnson v. Columbia Debt Recovery, a Washington district court awarded each plaintiff $30,000 in emotional distress damages under the Fair Debt Collection Practices Act (FDCPA), $120 in treble actual damages under the Washington Collection Agency Act (WCAA) and the Washington Consumer Protection Act (WCPA), and $2,000 in statutory damages under the FDCPA.

In

In Glawe v. Carpenter, Hazelwood, Delgado & Boren PLC, the Ninth Circuit Court of Appeals reversed and remanded the district court’s entry of summary judgment for the appellees-defendants in a Fair Debt Collection Practices Act (FDCPA) case. In its holding, the court emphasized the need to conduct a factual analysis in that case as

In a June 22 letter to the inspector general of the Federal Reserve Board and Consumer Financial Protection Bureau, Subcommittee on Government Operations Ranking Member and House Representative Jody Hice (R-GA) called for an urgent investigation into reports that the Biden administration is targeting certain career CFPB employees from the Trump administration to replace them

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can

While Financial Industry Regulatory Authority (FINRA) rules do not require member firms and customers to enter into arbitration agreements or otherwise preclude parties from litigating disputes through the state and federal court systems, FINRA issued and published Regulatory Notice 21-16 (the “Notice”) on April 21, 2021 to emphasize the applicable FINRA Rules when member firms