GLCCA Board Member Spotlight: Rebecca Roberts-Stewart
January 29, 2024
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The bureau alleges two student loan servicers violated the Consumer Financial Protection Act. 05/07/2024 10:20 A.M. 2 minute read The Consumer Financial Protection Bureau filed two complaints and requests for relief against student loan servicers this week. “The National Collegiate Student Loan Trusts purchase and securitize student loans, and PHEAA (Pennysylvania Higher Education Assistance Agency) [...] Read More... The post CFPB Files Student Loan Servicing Enforcement Action appeared first on ACA International.
The Utah-based member company was recognized for its ethical sales and customer service. 05/07/2024 10:15 A.M. 1 minute read TCN, an ACA International member company based in St. George, Utah, recently announced that it has been honored with two Bronze Stevie Awards in the 2024 Stevie Awards for Sales & Customer Service. TCN received recognition [...] Read More... The post TCN Wins Two Bronze Stevie Awards appeared first on ACA International.
Employees from CBHV share how their company leverages ACA’s designation program to attract and retain clients. 05/06/2024 2:30 P.M. 2 minute read You can stand out among your peers, prove that your agency can be trusted to operate prudently, and instill a culture of professional development by pursuing an ACA International designation. ACA’s seven designations [...] Read More... The post Elevate Your Reputation with ACA’s Professional Designations appeared first on ACA International.
The U.S. Chamber of Commerce and other business groups are challenging the rule to lower credit card fees. 05/06/2024 2:30 P.M. 2.5 minute read A ruling in a case that could overturn the Consumer Financial Protection Bureau’s rule on credit card late fees is due this week. The rule, which reduces credit card late fees [...] Read More... The post Judge’s Decision on Blocking CFPB Credit Card Rule Due by Friday appeared first on ACA International.
Plaintiff Files 10 Lawsuits Against Collectors Accusing them of Violating FCRA CFPB Assesses $5M in Fines and Penalties Over Student Loan Servicing Issues Judge Denies MTD in FDCPA Case Over Unpaid Rent Second Annual Debt Gala Raises Funds for Debt Charities WORTH NOTING: The best looks and outfits from last night’s Met Gala … More
On Sunday night in Brooklyn, the second annual Debt Gala was held. The event, timed to coincide with the annual Met Gala, is aimed at raising money to increase awareness of consumer debt and healthcare inequality. It is a costume party, similar to the Met Gala, but all the costumes are meant to be handmade.
A District Court judge in California has denied a defendant’s motion to dismiss a Fair Debt Collection Practices Act suit, ruling the arguments raised by the defendant were not applicable at this stage of the proceedings. The Background: The defendant attempted to evict the plaintiff because the plaintiff allegedly failed to pay his rent. The
The Consumer Financial Protection Bureau yesterday announced an enforcement action against the National Collegiate Student Loan Trusts (NCSLT) and Pennsylvania Higher Education Assistance Agency (PHEAA) over a series of servicing failures, including mishandling borrower requests during the COVID-19 pandemic. The two entities will pay more than $5 million in fines and restitution to consumers. The
After several years of refusing to adopt special rules applicable in mass arbitration proceedings, JAMS announced that it has issued Mass Arbitration Procedures and Guidelines and a Mass Arbitration Procedures Fee Schedule effective May 1, 2024. The Mass Arbitration Procedures apply “only where the Parties have agreed to the application of these Procedures in a pre- or post- dispute written agreement.” … Continue Reading Continue Reading…
In the lawsuit challenging the CFPB’s final credit card late fee rule (Rule), the Fifth Circuit has denied the CFPB’s petition for a panel rehearing to reconsider the panel’s order vacating the district court’s order transferring the case to the U.S. District Court for the District of Columbia and issuing a writ of mandamus directing the district court to reopen the case. … Continue Reading Continue Reading…
Following their announcement last July regarding their plans to coordinate on a range of consumer financial protection issues , the CFPB Director and his European counterpart, the Commissioner for Justice and Consumer Protection of the European Commission, have released a joint statement highlighting some areas those coordinated efforts have identified for ongoing monitoring and particular focus.… Continue Reading Continue Reading…
The Financial Crimes Enforcement Network (“FinCEN”) recently issued a Financial Trend Analysis (“Analysis”) focusing on patterns and trends identified in Bank Secrecy Act (“BSA”) data linked to Elder Financial Exploitation (“EFE”) involving scams or theft perpetrated against older adults. The Analysis is a follow up to FinCEN’s June 2022 EFE Advisory (“2022 Advisory”). … 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
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