CFPB’s Regulation F Debt Collection Rule Goes into Effect November 30
Last year, the Consumer Financial Protection Bureau (CFPB) released the final version of Regulation F, a significant rule updating the Fair Debt Collection Practices Act (FDCPA).
CFPB
T-Mobile May Block All Debt Collection Text Messages to Its Users
In November of last year, telecommunications carrier T-Mobile quietly made a change to its Code of Conduct that could potentially have enormous consequences: it listed debt collection among what it considers to be “disallowed content.” As a result, it is possible that T-Mobile will block all debt collection text messages—even those that are legal and sent with the consent of the recipient—to it
CFPB Releases Final Debt Collection Rule
The Consumer Financial Protection Bureau (CFPB) released the final version of a debt collection rule that was last seen in proposed form back in May 2019.
SCOTUS Rules that CFPB Director Can Be Fired by President but Is Otherwise Constitutional
The Supreme Court ruled that the president has the power to fire the Director of the Consumer Financial Protection Bureau (CFPB), but otherwise affirmed the constitutionality of the independent regulatory agency.
Collections Compliance: the Laws that Govern the Collections Industry
Both telemarketing and debt collection are, quite literally, risky businesses. Both fields are highly regulated, governed by complex legislation, and subject to potentially expensive penalties and litigation. Compliance in either field is complicated enough on its own but compliance for debt collectors who use telephone solicitation in order to conduct their business imposes difficulties to an extent beyond the mere sum of the complexities of either field on its own.
CFPB Asks FCC to Allow Robocalls from Banks About Financial Relief Programs Related to the Coronavirus Crisis
In an unusual move relative to its customary stance on such issues, the Consumer Financial Protection Bureau (CFPB) has requested that the Federal Communications Commission (FCC) ease restrictions on the use of automated phone calls by banks and financial institutions in order to communicate with consumers about the various financial relief programs and services available to the public in
Pallone-Thune TRACED Act Passes Senate, Awaits President’s Signature
The Senate passed the Pallone-Thune TRACED Act by voice vote on Thursday. It has previously passed the House of Representatives by a count of 417-3. President Trump is expected to sign it into law soon.
CFPB Update Could Allow Unlimited Texts and Emails to Consumers
It's been a big week for the Consumer Financial Protection Bureau (CFPB). Newly proposed debt collection rules that may update the 1977 Fair Debt Collection Practices Act (FDCPA) could allow debt collectors to send unlimited texts and emails to consumers.
Leaked Email Reveals A New Pro-Business CFPB
The Consumer Financial Protection Bureau (CFPB) is going through major changes under the new leadership of Mick Mulvaney. In a leaked internal email sent by President Trump’s acting director to staff, he issued his mission statement and set a clear new course for the CFPB.
Senate Holds Hearing on Abusive Lawsuits
On November 8th, the Senate Committee on the Judiciary held a two hour hearing entitled “The Impact of Lawsuit Abuse on American Small Businesses and Job Creators”.