On June 20, Virginia Attorney General Mark Herring announced that an agreement had been reached to keep Sweet Briar College open, ending months of litigation over the future of the College. The agreement will both provide money for the next year of operation and create a wholesale change of school leadership.
In March of this
On June 18, the Consumer Financial Protection Bureau filed a consent order and announced an enforcement action against a company specializing in medical debt collection for mishandling consumer credit reporting disputes and preventing consumers from exercising important debt collection rights. The CFPB is ordering the company to provide over $5.4 million in relief to harmed
On June 18, 2015, the Federal Communications Commission (“FCC”) voted 3-2 to approve an order that promises to have major and negative impacts on companies who use modern telephone technology to text and call consumers.
The stark increase in the number of lawsuits that were filed under the Telephone Consumer Protection Act (“TCPA”) has been
On June 17, ACA International – a trade group representing collection agencies and attorneys, creditors, debt buyers, and industry service providers – presented substantive comments to the Consumer Financial Protection Bureau in response to the agency’s recent request for information related to the consumer credit card market. The CFPB’s request contained four debt collection questions,
On June 17, the Consumer Financial Protection Bureau filed a lawsuit against Security National Automotive Acceptance Company, LLC, an Ohio-based auto-finance company specializing in lending to members of the United States military to purchase used vehicles. Security National operates in approximately 30 states.
The CFPB’s lawsuit alleges that Security National engaged in unfair, deceptive, or
On June 16, 2015, the New York State Department of Financial Services (“DFS”) released additional guidance related to its recently enacted debt collection regulations. The new clarifications supplement DFS’ initial set of “Frequently Asked Questions” released in February, with new guidance beginning at Question #17. DFS announced publication of the supplemental guidance during a “Debt
The Federal Communications Commission recently announced the agenda for its upcoming June 18 Open Meeting. The agenda includes a number of items on which the Commission is considering action. Of those items on the agenda, few are more important to many financial service companies than the Commission’s focus on “Protecting Consumers Against Unwanted Robocalls.”
According
On June 10, the Consumer Financial Protection Bureau issued a final rule defining larger participants of the automobile financing market. The new rule will become effective 60 days after being published in the Federal Register. The final rule follows up the CFPB’s proposed rule, issued on September 17, 2014, on which we previously reported here
In In Touch Concepts, Inc. d/b/a ZCOM v. Cellco Partnership, the Second Circuit joined the Seventh Circuit in holding that a federal court retains subject matter jurisdiction over a case that had previously been removed to federal court under the Class Action Fairness Act (“CAFA”), even after the plaintiff amended the complaint to remove
On June 15, the Federal Trade Commission and the Office of the New York State Attorney General hosted a “Debt Collection Dialogue” in Buffalo, New York. FTC Bureau of Consumer Protection Director Jessica Rich and New York State Attorney General Eric Schneiderman delivered opening remarks, and officials from the New York State Department of Financial