OAKLAND — California Attorney General Rob Bonta joined 17 attorneys general in submitting a comment letter supporting the Consumer Financial Protection Bureau’s (CFPB) proposed overdraft fee rule, amending Truth in Lending Act (TILA) regulations.
NEW YORK (Reuters) - Citigroup on Tuesday urged a federal judge to dismiss New York Attorney General Letitia James' lawsuit accusing its Citibank unit of failing to reimburse customers who fall victim to online scammers.
After building a solid rapport with your customer over the phone (see the Building a Relationship Over the Phone? blog if you missed it), it is essential to delve into the matter at hand and offer assistance in tackling their financial hurdles. Understanding the customer’s current situation is paramount. Once you have gained clarity on their circumstances, the next step is to Match their needs with the array of resources and programs at your disposal, designed to aid customers with their accounts.
The bill appears to focus on telemarketing calls and strengthening protections for consumers in the TCPA and Do-Not-Call Registry. ACA is tracking if the bill will impact calls outside of telemarketing.
In a long-awaited decision, the Third Circuit handed the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) a victory in the National Collegiate Student Loan Trust litigation that could have wide-reaching implications for market participants in the consumer financial services industry. In its March 19, 2024 opinion, a three-judge panel held that: (1) the National Collegiate Student Loan Trust entities (“Trusts”) are “covered persons” subject to the CFPB’s enforcement authority under the Dodd-Frank Act because they “engage” in consumer financial products or services—i.e., student loan servicing and debt collection; and (2) the CFPB did not need to ratify the underlying action before the statute of limitations had run despite the constitutional deficiency within the Bureau when the action was initiated.1
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