We are pleased to announce that Troutman Sanders partners David Anthony, Cindy Hanson, Ron Raether, and Ashley Taylor will be featured panelists at the National Association of Professional Background Screeners (“NAPBS”) 2017 Mid-Year Legislative & Regulatory Conference to be held March 20-21 in Arlington, Virginia.
In an interview-style format, David will have
On February 28, the Consumer Financial Protection Bureau released its monthly snapshot highlighting consumer complaints about credit reporting. A copy of the CFPB’s report can be found here.
Debt collection, student loan, and credit reporting were the top three most-complained about consumer financial products and services, representing about 60 percent of complaints submitted in
On February 13, the Federal Trade Commission sent a letter to Consumer Financial Protection Bureau director Richard Cordray summarizing its 2016 debt collection activities for inclusion in the CFPB’s annual report to Congress on the Fair Debt Collection Practices Act.
In its letter, the FTC describes “its aggressive law enforcement activities against abusive, unfair, and
On February 1, the Consumer Financial Protection Bureau ordered payment card companies MasterCard and UniRush to pay $10 million in restitution and a $3 million fine related to service breakdowns that left customers unable to access their funds. “MasterCard and UniRush’s failures cut off tens of thousands
In early February, Virginia Attorney General Mark Herring and the Consumer Financial Protection Bureau announced that the agencies had reached a settlement with Woodbridge Coins and Jewelry Exchange, Inc. d/b/a Woodbridge Gold & Pawn (“Woodbridge Pawn”) to provide $56,763.60 in refunds to approximately 1,000 consumers. The CFPB and the AG’s Office alleged that the business
On January 9, 2017, the Consumer Financial Protection Bureau (CFPB) entered a Consent Order against Works & Lentz, Inc., Works & Lentz of Tulsa, Inc., two medical debt collection law firms, and their president, Harry A. Lentz, Jr., for the defendants’ violations of the Fair Debt Collection Practices Act (FDCPA) and the Furnisher Rule (Regulation
Late last year, TransUnion agreed to pay approximately $17 million as part of a settlement with the Consumer Financial Protection Bureau in connection with TransUnion’s advertising and marketing practices. The settlement stems from a civil investigative demand that addressed TransUnion’s common industry practices relating to the advertising, marketing, and sale of consumer reports, credit scores,
On February 3, President Trump signed an executive order directing the Treasury Secretary to review the Dodd-Frank Wall Street Reform and Consumer Protection Act. Trump earlier characterized Dodd-Frank as “a disaster” and said that his administration would work to cut “a lot out of” the 2010 law.
House Financial Services Committee Chairman Jeb Hensarling (R-Tex.)
Debt collection is becoming an increasingly regulated industry and the CFPB has signaled its intention to further regulate the industry by extending regulations to first party creditors. Please join Troutman Sanders Partner David N. Anthony and Of Counsel Andrew B. Buxbaum for a complimentary webinar for a discussion of debt collection issues including how debt
On January 31, Virginia Attorney General Mark Herring announced a settlement with CashCall, Inc. over allegations that the company illegally deceived borrowers and collected interest in excess of legal rates.
According to the press release, the A.G.’s Office alleged that CashCall violated Virginia’s usury, lending, and licensure laws by entering into an arrangement in