The New York City Department of Consumer and Worker Protection (DCWP) will hold a public hearing on proposed amendments to its debt collection penalty schedule on June 1. The hearing will focus on updates to penalties for violations under the city’s debt collection rules.
The CFPB released its final rule revising the 2023 small business lending data collection and reporting rule under the Equal Credit Opportunity Act (ECOA) and Regulation B, which implements Section 1071 of the Dodd-Frank Act (2026 Final Rule). The 2026 Final Rule will become effective 60 days after publication in the Federal Register, and the compliance date for initial data collection is January 1, 2028.
Virginia is on the verge of making a consequential change to its civil justice system. Legislation would authorize private class actions in Virginia state courts and make significant amendments to the Virginia Consumer Protection Act (“VCPA”). If signed, Virginia would join virtually every other state in expressly permitting class action procedures in its own courts.
Speed is a major advantage when lenders work with debt settlement companies. When the process is slow or relies on manual work, settlements often fall apart, and the chance of recovering funds decreases. By moving to a structured way of working together, lenders can respond with a calm and clear approach. This ensures that an initial offer to settle actually turns into a finished agreement.
The FCC has opened a public comment period on a proposed rule aimed at limiting the use of foreign call centers and strengthening standards for companies that continue to operate offshore customer service operations. The proposal outlines multiple actions intended to address activity at offshore call centers, with a focus on improving customer service communications and protecting consumers’ sensitive personal information.
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