GLCCA Board Member Spotlight: Rebecca Roberts-Stewart
January 29, 2024
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The resource covers data definitions and who is required to comply with the law, taking effect July 1, among other details. 05/08/2024 1:35 P.M. 1 minute read The Oregon Department of Justice has new FAQs for consumers and businesses to prepare for the effective date of the Oregon Consumer Privacy Act, Senate Bill 619 (PDF), [...] Read More... The post Oregon Releases FAQs for Compliance with State Data Privacy Law appeared first on ACA International.
FDCPA and FCRA cases fell, while TCPA and CFPB complaints increased in March, according to the latest report from WebRecon. 05/07/2024 1:50 P.M. 2 minute read WebRecon’s latest report shows litigation decreased in March for the Fair Debt Collection Practices Act and Fair Credit Reporting Act, while Telephone Consumer Protection Act and Consumer Financial Protection Bureau claims [...] Read More... The post ARM Industry Claims a Mixed Bag in March appeared first on ACA International.
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.
Getting to Know Ryan Herber of Preferred Group of Tampa Bills Introduced in Congress to Cancel All Medical Debt Judge Grants MSJ For Defendant in FDCPA Case Over Reporting of Alleged Disputed Debt Fed Proposes Opening Payment Networks on Weekends WORTH NOTING: In honor of Mother’s Day, a bouquet of advice for new moms and
The Federal Reserve Board is considering a proposal that would expand the operating days of its two payment networks so they both operate seven days a week, which would allow for the settlement of electronic payments, including direct deposits, over the weekend. Currently, the two payment systems — the Fedwire Funds Service and the National
In a case that was defended by Xerxes Martin and the team at Martin Golden Lyons Watts Morgan, a District Court judge in Oklahoma has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case, ruling the “dispute” that the plaintiff alleged to have made during a conversation with a
A quartet of lawmakers, led by Sen. Bernie Sanders [I-Vt.] yesterday announced that they are introducing bills in the Senate and House of Representatives that would wipe out all existing medical debt and remove it from consumers’ credit reports, among other changes. The bill would create a federal grant program to cancel all existing $220
Judges are beginning to address the increasing use of AI tools in court filings—including reacting to instances of abuses by lawyers using it for generative purposes and requiring disclosures regarding the scope of AI use in the drafting of legal submissions. Now JAMS, the largest private provider of alternative dispute resolution services worldwide, has issued rules—effective immediately—designed to address the use and impact of AI.… Continue Reading Continue Reading…
The industry group plaintiffs in NAIB et al. v. Weiser et al., the lawsuit challenging Colorado’s opt-out legislation, have filed their reply to the brief filed by the Colorado Attorney General and Colorado Uniform Consumer Credit Code Administrator in opposition to the plaintiffs’ motion for preliminary injunction. In their reply, the plaintiffs also respond to the amicus brief filed by the FDIC supporting Colorado’s position.… Continue Reading Continue Reading…
Our special guest is Brian Johnson, Managing Director of Patomak Global Partners and former CFPB Deputy Director. In November 2023, the CFPB issued a proposed rule to supervise nonbank companies that qualify as larger participants in a market for “general-use digital consumer payment applications.” We first discuss the CFPB’s authority to supervise nonbank entities considered to be “a larger participant of a market for other consumer financial products or services” and its previous use of that authority. … Continue Reading Continue Reading…
On May 3, 2024, the Board of Governors of the Federal Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (“FDIC”), and the Office of the Comptroller of the Currency (“OCC”) jointly released the “Third-Party Risk Management: A Guide for Community Banks” (the “Guide”), presenting it as a resource for community banks to bolster their third-party risk management programs, policies, and practices.… 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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