Today, the CFPB is proposing to create a registry of contract terms that financial companies use to censor their customers and force individuals into surrendering their legal rights.
On January 4, the District Court of New Jersey dismissed a Fair Debt Collection Practices Act (FDCPA) complaint against an unlicensed debt collector for lack of standing. In Valentine v. Unifund CCR, LLC, et al., the court held that merely receiving a letter from an unlicensed debt collector is insufficient to establish a concrete injury for Article III purposes.
While the CFPB has longstanding supervisory relationships with many institutions, we also conduct exams or other supervisory activities at companies for the first time. Here’s what newly supervised institutions can expect from a supervisory relationship with the CFPB.
On Dec. 15, 2022, the Federal Financial Institutions Examination Council’s (FFIEC) Task Force on Consumer Compliance adopted revised examination procedures for the Fair Debt Collection Practices Act (FDCPA) and its implementing regulation, Regulation F.
Today, the U.S. Department of Education (Department) proposed regulations to reduce the cost of federal student loan payments, especially for low and middle-income borrowers. The regulations fulfill the commitment President Biden laid out in August when he announced his Administration's plan to provide student debt relief for approximately 40 million borrowers and make the student loan system more manageable for student borrowers.
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