GLCCA Board Member Spotlight: Rebecca Roberts-Stewart
January 29, 2024
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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. 04/12/2024 12:00 P.M. 2.5 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: Self-Employment, Proof of Claims and More appeared first on ACA International.
The company is partnering with Google Cloud to help improve agent productivity. 04/12/2024 11:50 A.M. 1.5 minute read Discover says it is using generative AI in its contact centers to help nearly 10,000 agents better answer customer questions, and that early results indicate that agents have reduced call handling time and policy search time by [...] Read More... The post Discover Implements Gen AI in its Contact Centers appeared first on ACA International.
The legislation increases the amount of income exempt from wage garnishment and revises statutes related to debt collection practices. 04/12/2024 11:50 A.M. 2 minute read Oregon has finalized a law on wage garnishment after Gov. Tina Kotek signed SB 1595 on April 4. Under the new law, taking effect Jan. 1, 2025, and of note [...] Read More... The post Oregon Governor Enacts Wage Garnishment Law appeared first on ACA International.
Compliance documentation is due for covered entities April 15. The cybersecurity policy and risk assessment review, among other requirements, are due April 29. 04/12/2024 9:55 P.M. 3 minute read Key deadlines for New York’s cybersecurity regulations are coming up this month. Covered entities under New York’s financial services law have until April 29 to comply [...] Read More... The post Compliance Deadlines Approaching for New York Cybersecurity Regulations appeared first on ACA International.
Judge Grants MSJ for Plaintiffs in FDCPA Case Over Expletive-Laced Communications Gov’t Cancels $7.4B in Student Loans Oregon Gov. Signs Garnishment, Collection Bill into Law Compliance Digest – April 15 WORTH NOTING: Meet a guy who likes to scam the scammers … Why a shortened workweek is gaining steam here in America with CEOs …
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The governor of Oregon has signed a bill into law that raises the amount of money that can be protected by consumers from garnishments and keeps them from a “financial death spiral because of debt collection,” according to the sponsor of the bill. “We’re not trying to keep people from having to pay their debt,”
The federal government announced on Friday that it had approved an additional $7.4 billion in student loan debt relief for nearly 300,000 borrowers, many of whom were signed up for the administration’s new income-driven repayment program. The administration touted that this latest round of relief raised the total loan forgiveness to $153 billion, for more
Our special guest is David Pommerehn, SVP, General Counsel, Head of Regulatory Affairs at the Consumer Bankers Association. In January 2024, the CFPB proposed two new rules: one restricting overdraft fees and the other prohibiting NSF fees on certain declined transactions. The proposals are among the CFPB’s latest moves in furtherance of the Biden Administration’s “junk fees” agenda. … Continue Reading Continue Reading…
Colorado’s attempt to opt out of interest rate exportation by out-of-state, state-chartered banks ultimately will fail, and will cause irreparable harm in the interim: therefore, enforcement of the opt out should be preliminarily enjoined, according to the plaintiffs’ Motion for Preliminary Injunction (the “Motion”) filed April 2, 2024 in federal district court in Colorado in NAIB et al.… Continue Reading Continue Reading…
FDIC’s Chairman Martin J. Gruenberg recently gave remarks at the National Community Reinvestment Coalition on the FDIC’s economic inclusion strategy. FDIC Commitment to Economic Inclusion Chairman Gruenberg began by outlining the importance of federally insured bank accounts to the ability of individuals and families to participate in and fully benefit from economic opportunities. … Continue Reading Continue Reading…
The CFPB issued a new circular advising remittance transfer providers that false advertising about the cost or speed of sending remittance transfers can be considered a violation of the Consumer Financial Protection Act even if a provider’s disclosures are in compliance with the CFPB’s Remittance Rule. The circular is intended to address CFPB concerns regarding fees charged on international money transfers and false claims regarding the speed of such transfers. … Continue Reading Continue Reading…
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
As of January 1, 2024, the Louisiana Office of Financial Institutions (OFI) is accepting registration of private education lenders. This registration requirement is applicable to nonexempt businesses making or holding private education loans and is the result of the passage of the Louisiana Private Student Loan Registry law. More › Tags: Department of Education, Education, Education Debt, Financial Registration, Louisiana, Private Colleges and Universities, Private Student Loans, Student Loans
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