We are pleased to announce that Troutman Pepper attorney, David Gettings, will be presenting during the Mortgage Bankers Association Regulatory Compliance Conference 2021 in Washington, D.C.. Mortgage compliance professionals will have the perfect opportunity to hear first-hand from the regulators and policy makers that make the rules as well as get practical advice to meet

On August 16, the Consumer Financial Protection Bureau (CFPB) filed a proposed settlement to resolve a lawsuit against a debt collection firm, Fair Collections & Outsourcing (FCO), and its owner, Michael Sobota, stemming from FCO’s alleged failure to implement proper policies and procedures, in addition to related Fair Credit Reporting Act (FCRA) and Fair Debt

On August 31, the New York Department of Financial Services (DFS) issued an industry letter to all supervised mortgage lending institutions and their affiliates on preventing sexual orientation discrimination in mortgage lending. New York’s Fair Lending Law prohibits discrimination in, among other things, the granting, withholding, extending, or renewing, or in the fixing of the

On August 11, the Consumer Financial Protection Bureau (CFPB) published a notice and request for comment in the Federal Register on its information collection initiative, “Electronic Disclosure on Mobile Devices.” The CFPB issued the request for comment in advance of seeking formal approval for the initiative from the Office of Management and Budget (OMB).

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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

In Lupia v. Medicredit, Inc., No. 20-1294 (10th Cir. Aug. 17, 2021), the Tenth Circuit affirmed summary judgement in favor of the plaintiff in a claim under the Fair Debt Collections Practices Act (FDCPA), finding that the defendant debt collector failed to present sufficient evidence to establish a bona fide error defense.

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A federal district court judge in Massachusetts denied a credit repair company’s motion to dismiss a case brought by the Consumer Financial Protection Bureau (CFPB) and the state of Massachusetts alleging that the company made false representations about customers’ ability to improve their credit rating and requested payment in advance of full performance, in violation

The Department of Education (Department) has announced that individuals who have a total and permanent disability (TPD) will have their unpaid student loans automatically discharged without having to file any paperwork. The change will affect 323,000 borrowers and result in a discharge of more than $5.8 billion in unpaid loan balances.

Pursuant to regulations enacted

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