In Salinas v. R.A. Rogers, Inc., debtor Marco Salinas obtained a personal loan that was silent as to whether interest or charges could accrue in the event of default. After Salinas defaulted, debt collector R.A. Rogers, Inc. sent a letter informing him of the total amount due and warning that interest and other charges
On April 1, the Consumer Financial Protection Bureau issued “a non-binding general” policy statement regarding the Fair Credit Reporting Act (“FCRA”) and Regulation V in light of the recently enacted Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The policy statement primarily emphasizes the need for furnishers to follow the requirements of the CARES
On March 31, the Consumer Financial Protection Bureau (“the Bureau”) published an online guide (available here) for consumers seeking financial relief options for mortgage and rent payments in light of the unfolding coronavirus (“COVID-19”) pandemic, with a particular focus on the new federal Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The guide
An investor alert this week from the Financial Industry Regulatory Authority, Inc. begins with the ominous warning, from “regulators, law enforcement agencies, and consumer organizations around the globe, the message is clear: fraudulent schemes related to the coronavirus (‘COVID-19’) pandemic have arrived.”
A recent investor alert from the Securities and Exchange Commission’s Office of Investor
In response to the global coronavirus (“COVID-19”) pandemic, the Consumer Financial Protection Bureau announced that it has postponed certain data collections from the financial services industry related to CFPB rules. This extension of flexibility to the financial services industry is intended to facilitate companies focusing their resources on consumers during this time.
CFPB Director Kathleen
We are pleased to announce that Troutman Sanders attorney, David Anthony, will be presenting during the CDIA Law & Industry Conference in Washington, DC on June 17, 2020. David will be a presenting on the panel, “The Changing Dynamics of Litigation & Enforcement.”
This panel will explore leading FCRA developments, including key litigation and
On March 24, the Consumer Financial Protection Bureau released a list of resources to assist consumers in taking steps to protect their finances during the coronavirus (“COVID-19”) pandemic. The resources can be found here.
Specifically, the resources provided by the CFPB address the following issues:
The Supreme Court of Appeals of West Virginia issued an administrative order on Sunday, March 22 that covers public health and safety concerns related to the coronavirus (“COVID-19”). In it, the Court recognizes “the current COVID-19 crisis creates an unprecedented public health emergency that requires immediate action to encourage effective social distancing and reduce the
On March 17, the Consumer Financial Protection Bureau ordered all employees – not just those in the most affected regions – to begin working from home given the rapid spread of the coronavirus (“COVID-19”). CFPB Director Kathleen Kraninger sent an email to all CFPB employees in the evening of March 17 stating that a prior
The Securities and Exchange Commission has announced that, in light of the challenges associated with the coronavirus (“COVID-19”), and particularly the difficulty associated with submission of comment letters, it will not take formal action before April 24 on a number of different proposed rulemakings with comment periods otherwise set to expire in March. Of course,