GLCCA Board Member Spotlight: Rebecca Roberts-Stewart
January 29, 2024
Menu
Please visit ACA's Newsroom for the latest.
Each week, ACA International’s compliance team covers relevant case summaries for ACA members. Here’s a rundown of recent top FCRA, TCPA and FDCPA cases we’ve covered. 04/26/2024 10:55 A.M. 3 minute read Each week, ACA International’s compliance team covers relevant case summaries for ACA members. Members may also submit cases for consideration to our compliance team [...] Read More... The post Daily Decision Recap: Lapsed License, Sanctions and More appeared first on ACA International.
A consumer sued several Illinois judges for violating his constitutional rights. The district court dismissed his claims as frivolous and warned that further appeals could lead to sanctions. 04/26/2024 10:50 A.M. 2 minute read In a recent ruling in Illinois, a plaintiff and serial litigant named Michael Henry saw his appeal dismissed by the court [...] Read More... The post Illinois Court Dismisses Frivolous Appeal from Serial Litigant appeared first on ACA International.
More borrowers made payments on their loans in January and February of this year than in any previous month since data collection began in 2018. 04/25/2024 2:20 P.M. 2 minute read New data released from the Department of Education reveals the hurdles and successes the department has faced in the first three months of the [...] Read More... The post DOE Releases Update on Student Loan Repayment appeared first on ACA International.
TrueAccord reviews current economic trends and shares takeaways on successful collection strategies. 04/25/2024 2:15 P.M. 2.5 minute read A recent TrueAccord blog post reviewing industry insights from the first quarter of 2024 found that high inflation and mounting debt burdens may have an impact on the most effective consumer communication strategies in the months ahead. [...] Read More... The post From the Web: Rising Inflation, Debt Call for Adaptable Collection Approaches appeared first on ACA International.
Suit Accuses Collector of Communicating in Different Channel After Receiving Refusal to Pay Appeals Court Side-Steps Chance to Create Bright-Line Rule on FCRA Claims, But Still Affirms Ruling for Defendant FTC Sues Payments Company For Charging Consumers Millions of Dollars in Junk Fees Bankruptcy Filings See Notable Increase in 2024 WORTH NOTING: The World Health
Bankruptcy filings across the United States have shown a significant increase, rising by 16% during the 12-month period ending March 31, according to data released yesterday by the Administrative Office of the U.S. Courts. This rise mirrors the growth rate observed in the last quarter of 2023 and suggests a continuing trend of growing bankruptcy
The Federal Trade Commission has filed a lawsuit against a payments company that allegedly misled consumers about millions of dollars in junk fees that it was adding to their bills by charging consumers to make a payment and then printing a paper check and mailing it to the company being paid. The Background: The FTC
The Court of Appeals for the Eleventh Circuit yesterday issued a ruling in a long-awaited Fair Credit Reporting Act reasonable investigation case, but side-stepped the issue that everyone was hoping it would decide, instead affirming the District Court’s ruling in favor of the defendant, but for an entirely different reason. The Background: Two consumers bought
In furtherance of the Biden Administration’s “junk fee” agenda, on Thursday, May 9, 2024, the Consumer Financial Protection Bureau and the U.S. Department of Transportation will host a hearing on airline and credit card rewards programs. CFPB Director Rohit Chopra and Secretary of Transportation Pete Buttigieg will moderate a discussion with the following industry representatives, labor leaders, and consumer advocates: Scott DeAngelo, Executive Vice President and Chief Marketing Officer, Allegiant Air Morgan Harper, Director of Policy and Advocacy, American Economic Liberties Project Andrew Grimm, President and CEO, Apple Federal Credit Union Sara Nelson, International President, Association of Flight Attendants Lukas Johnson, Chief Commercial Officer, Breeze Airways Erin Witte, Director of Consumer Protection, Consumer Federation of America Robert Patrick Cooper, Senior Vice President and General Counsel, OneUnited Bank We will attend the joint hearing and blog about it thereafter. … Continue Reading Continue Reading…
The CFPB (or “Bureau”) filed a cross-motion for summary judgment in the lawsuit regarding the small business lending data collection and reporting rule, also known as the 1071 rule based on the Dodd-Frank section that requires the CFPB to adopt the rule (the “Rule”). Last month, the plaintiffs and intervenors in the lawsuit challenging the Rule filed a consolidated motion for summary judgment.… Continue Reading Continue Reading…
On April 17th, the CFPB issued a consent order to a for-profit training school alleging numerous violations of law related to its use if income share agreements (“ISAs”). According to the Bureau, BloomTech, Inc. (“BloomTech”) and the company’s founder and CEO engaged in deceptive and abusive acts or practices, violated the Truth in Lending Act (“TILA”) and Regulation Z, and violated the Federal Trade Commission’s (“FTC”) Holder Rule.… Continue Reading Continue Reading…
Petitioners in the challenge to the Federal Trade Commission’s (“FTC”) Combating Auto Retail Scams Rule (“CARS Rule”) filed their Petitioners’ Brief on March 15, 2004 in support of their petition for review, and a who’s who of interested auto industry trade associations have filed amicus briefs in support of the petition.… Continue Reading Continue Reading…
The Buy Now Pay Later ("BNPL")[1] legislation introduced by New York Governor Kathy Hochul officially died last week. However, BNPL legislation introduced last month by New York Assemblymember Pamela Hunter remains active and, similar to the Governor's bill, proposes that New York be the first state to require BNPL lenders to obtain a state license. More › Tags: BNPL, Licensing, New York, New York Department of Financial Services, New York Legislation, Proposed Legislation
Last week, the Texas Supreme Court answered the Fifth Circuit’s certified question as to whether simultaneous rescission and reacceleration can reset the limitations period under Texas Law by holding that “a rescission that complies with the statute [Tex. Civil Practice and Remedies Code Section 16.038] resets limitations even if it is combined with a notice of reacceleration.” Moore v. Wells Fargo Bank, N.A., No. 23-0525, 2024 Tex. LEXIS 156, at *2 (Feb. 23, 2024). More › Tags: Compliance, Corporate Compliance, Mortgage, Mortgage Acceleration, Mortgage Debt, Mortgage Foreclosure, Mortgage Loan Acceleration, Mortgage Loans, Mortgage Servicers, Mortgage Servicing, Regulatory Compliance, Reverse Mortgage, Statute of Limitations, Texas
On February 16, 2024, the Consumer Financial Protection Bureau (CFPB) issued its revised rule addressing how financial institutions can appeal their compliance ratings or adverse material findings by the Bureau. The rule is an update to the Bureau's November 2015 revisions. More › Tags: CFPB, Compliance, Consumer Financial Protection Bureau, Financial Regulatory
On January 18, 2024, the United States Supreme Court heard oral arguments in two cases challenging the Chevron doctrine of statutory interpretation, Loper Bright Enterprises, et al., v. Gina Raimondo, Secretary of Commerce (Loper-Bright) and Relentless, Inc. v. Department of Commerce (Relentless). Under the Chevron doctrine, courts are supposed to grant deference to an agency's reasonable interpretation of an ambiguous statute. More › Tags: Financial Regulatory, Regulation, Regulatory, Statutory Interpretation
Copyright © 2024 GLCCA