California Seeks Comments on Consumer Complaint Rules

 

Comments focused on complaint response methods and timeliness are due by July 5. 06/28/2022 7:00 A.M. 2 minute read The California Department of Financial Protection and Innovation (DFPI) is seeking comments on its processes for consumer complaints and inquiries under the California Consumer Financial Protection Law (CCFPL) enacted in 2020. “The broad objective of this regulatory action […]

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The Word from the House Financial Services Committee Bill Markup

 

The House Financial Services Committee recently voted on bills ranging from housing finance and overdraft protections to one on expanding the FDCPA to cover commercial collections, which ACA International has advocated against. Here, we cover the highlights for members. 06/26/2022 8:00 A.M. 4.5 minute read Legislation to expand the Fair Debt Collection Practices Act to […]

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ACA and Joint Industry Trade Groups Support Immediacy in Call Blocking Notifications

 

The groups advocated for call blocking notifications consistent with the requirements of the TRACED Act that blocking entities provide transparent and effective redress. 06/22/2022 2:30 P.M. 4 minute read ACA International continues advocacy with the Federal Communications Commission on immediate notifications of call blocking, including through a meeting with the FCC in partnership with joint […]

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Advocacy Starts with You: ACA Provides the Resources You Need

 

How can you become an industry advocate? ACA has the tools you need to get started, including an online book highlighting ARM industry issues, video testimonials you can share, fact sheets and more. Editor’s note: This article is available for members only. 06/3/2022 11:00 A.M. 7 minute read Are you interested in connecting with federal […]

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CFPB Interpretative Rule Clarifies States’ Enforcement Authority

 

The rule, published and in effect on May 26, outlines states’ enforcement authority under the Consumer Financial Protection Act in addition to and beyond the authority of the CFPB. 6/2/2022 12:00 P.M. 1.5 minute read The Consumer Financial Protection Bureau has published an interpretive rule in the Federal Register, effective May 26, to provide clarity […]

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ACA Challenges CFPB Supervisory Authority Procedural Rule

 

The CFPB issued a procedural rule to use its supervisory authority to examine nonbank companies based on risk determination and will publish results to the public, a change that substantially affects regulated entities through unjust “naming and shaming” and that strays from the processes of any other federal banking regulator, ACA said in comments to […]

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Defendants in CFPB Case Argue that Debt Buyers are not “Covered Persons” and the CFPB’s Vague Allegations are Unfair

 

The defendants in CFPB case argue that investors who do not contact consumers were meant to be excluded from Dodd-Frank.  5/27/2022 9:30 A.M. 4 minute read Defendants in a Fair Debt Collection Practices Act and Consumer Financial Protection Act case filed by the Consumer Financial Protection Bureau have filed motions to dismiss the complaint on […]

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