CFPB Issues Reminder on Spanish-Language Disclosures

 

The bureau has model disclosures, including the debt collection model validation notice, available to help regulated entities provide materials to Spanish-speaking consumers. 05/12/2022 12:15 P.M. 1 minute read The Consumer Financial Protection Bureau has issued an updated list of disclosures in Spanish, including the debt collection model validation notice. “Financial service providers increasingly recognize the […]

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The Consumer Financial Protection Bureau Under Rohit Chopra is Harming Competition and Consumer Choice

 

The Consumer Financial Protection Bureau is departing from its core responsibilities by attempting to regulate market competition, shunning procedural requirements under the Administrative Procedure Act, and devising new enforcement powers for the director, writes Bill Hulse, vice president at the U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness. 05/11/2022 12:00 P.M. 5 minute read […]

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D.C. City Council Takes Small Step to Advance Debt Collection Bill

 

The city council seeks to replace temporary legislation to protect consumers during the pandemic with a permanent debt collection law. The temporary legislation expires on June 9, 2022. 05/04/2022 1:30 P.M. 2 minute read The Washington, D.C., City Council briefly reviewed a bill Tuesday that would strengthen the district’s debt collection law. The “Protecting Consumers […]

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A Government Credit‐Rating Monopoly?

 

If you like the DMV and TSA, you’ll love giving government sole control of credit reporting. Editor’s note: This article is available for members only. 05/04/2022 10:30 A.M. 15 minute read Key Takeaways: Closing the racial wealth gap by enabling more minority families to access high‐​quality financial services is a moral and economic imperative. The emergence […]

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California DFPI Shares Progress on Implementing Consumer Financial Protection Law

 

The state’s Consumer Financial Protection Law covers licensing and debt collection, and created a Debt Collection Advisory Committee that includes ACA International members. 03/29/2022 11:15 A.M. 4.5 minute read A year after implementing one of the most expansive consumer protection laws in the U.S., California’s Department of Financial Protection and Innovation (DFPI) announced it has […]

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CFPB Issues Updated Debt Collection Examination Procedures

CFPB logo

 

The updates for regulated entities reflect requirements for communicating with consumers, the limited-content message, credit reporting and more. 03/15/2022 4:00 P.M. 2 minute read The Consumer Financial Protection Bureau has updated its debt collection examination procedures to reflect requirements for regulated entities under Regulation F. These procedures include guidance for examination of all aspects of […]

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Colorado Senate Approves Consumer Debt Protection Bill

 

The bill increases homestead exemption amounts that would qualify for seizure for consumers with debt. An amended version considered this week closed the gap on those exemptions. 02/24/2022 10:45 A.M. 2 minute read Colorado is seeking to increase the amount of the homestead exemptions that are protected from seizure to satisfy a debt in a […]

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