Troutman Sanders

OCTOBER 16, 2023

billion, far higher than any other method of contact. One in four people who reported losing money to fraud since 2021 said it started on social media. [1] 1] Reported losses to scams on social media during the same period hit a staggering $2.7 For more information, click here.

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Account Recovery

AUGUST 10, 2021

A class-action lawsuit has been filed against Harley-Davidson Financial Services, accusing the lender of violating the Telephone Consumer Protection Act and the Illinois Consumer Fraud and Deceptive Business Practices Act because it allegedly contacted the plaintiff on her cell phone after she had revoked consent to be contacted.

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Better Credit Blog

FEBRUARY 5, 2021

If you’re wondering what BCA Financial Services is and why it’s on your credit report, the guide below is for you. With all of life’s financial obligations and the busyness of day to day life, it can be all too easy to let a payment slip through the cracks. About BCA Financial Services. BCA Financial Services, Inc.

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Troutman Sanders

MARCH 28, 2023

Court of Appeals for the Second Circuit held that the Consumer Financial Protection Bureau’s (CFPB) funding structure is constitutional — splitting from the U.S. Court of Appeals for the Fifth Circuit’s decision in Community Financial Services Association of America v. For more information, click here. On March 17, the U.S.

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Better Credit Blog

AUGUST 22, 2020

If you have an unpaid medical bill, you may begin to hear from a debt collector known as CMRE Financial Services. CMRE Financial Services is a collection agency that collects medical debts on behalf of hospitals and other healthcare businesses. What is CMRE Financial Services? Know Your Rights.

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Better Credit Blog

SEPTEMBER 9, 2020

Have you noticed a company called Phoenix Financial Services on your credit report? If you are interested in removing Phoenix Financial Services from your credit report, check out our article below for a full how-to guide on how to clean up your report and boost your score. What is Phoenix Financial Services?

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Fico Collections

JANUARY 13, 2021

To preface this post, my work focuses on digital financial services. That said, I do think it’s worth looking back on 2020 and identifying some important trends in financial services and thinking through how we might address them differently if we had a do-over. After all, hindsight is 2020. .

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Troutman Sanders

OCTOBER 4, 2021

On September 22, the Internal Revenue Service announced that it awarded new contracts to three private sector collection agencies to collect overdue tax debts. Beginning September 23, taxpayers with unpaid tax bills may be contacted by one of the following three agencies: CBE Group, Inc., Coast Professional, Inc., and ConServe.

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Troutman Sanders

JUNE 21, 2022

On June 8, the New York State Department of Financial Services (NYDFS) issued new “ Guidance on the Issuance of U.S. NYDFS said in the announcement that it has been “in close contact with New York State-regulated virtual currency entities in light of recent events in the stablecoin market and the virtual currency space.”

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Troutman Sanders

SEPTEMBER 14, 2020

On September 9, 2020, the Deputy Superintendent of the New York Department of Financial Services issued guidance to New York state-regulated mortgage lenders and servicers regarding fees paid to register mortgages in default. ” The webinar is available here. To read the announcement, click here.

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Consumer Financial Services Law

NOVEMBER 19, 2019

On November 14, 2019, the House Committee on Financial Services passed the following bills which would amend the federal Fair Debt Collection Practices Act and tighten consumer protections. The bills will now make their way to full House for further consideration. The Ending Debt Collection Harassment Act of 2019 (H.R.

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Troutman Sanders

AUGUST 9, 2021

If individuals are unsure about certain communications, they should contact their state agency directly. For organizations interested in learning more about privacy issues relating to COVID-19 contact tracing for app makers, check out Troutman Pepper’s Law360 article by clicking here. To read the full announcement, click here.

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Troutman Sanders

APRIL 4, 2022

On March 29, the Office of the Comptroller of the Currency (OCC) issued a bulletin aimed at ensuring that OCC-regulated entities use the appropriate “designated points of contact” when complying with the Computer-Security Incident Notification: Final Rule ( OCC Bulletin 2021-55 ). For more information, click here.

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Troutman Sanders

NOVEMBER 8, 2023

Specifically, the defendant repeatedly contacted the plaintiff despite its knowledge that the plaintiff was represented by counsel and that she had filed for bankruptcy due to her financial troubles.

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Troutman Sanders

DECEMBER 7, 2021

On November 29, the CFPB issued a new advisory for financial institutionsto help prevent elder financial exploitation with alerts to trust contacts. The advisory provides information about developing relevant policies and procedures; educating account holders; and training and supporting staff. For more information, click here.

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Troutman Sanders

OCTOBER 11, 2021

The complaint alleged that a data incident involving the loss of protected health information (PHI) used for COVID-19 contact tracing caused the plaintiff harm. For more information about contact tracing, we recommend you check out our Law360 article , where we discuss contact tracing’s privacy implications for app developers.

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Troutman Sanders

APRIL 25, 2022

The report found that debt collection entities have reported increased consumer contacts and payments during the COVID-19 pandemic. On April 19, the CFPB released a report on financial challenges facing rural communities. For more information, click here. The CFPB indicates many rural communities are “banking deserts.”

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Troutman Sanders

FEBRUARY 7, 2022

On January 31, the Consumer Financial Protection Bureau published a review of the financial issues facing people and families who come in contact with the criminal justice system. For more information, click here. For more information, click here.

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Troutman Sanders

NOVEMBER 2, 2020

In the report, Cannataci stated the widespread use of contact tracing technology is a disturbing trend when used disproportionately. On October 29, the United Nation’s special rapporteur on the right to privacy, Joseph Cannataci, delivered his annual report on privacy implications in the fight against COVID-19.

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Troutman Sanders

FEBRUARY 2, 2021

On January 21, Congresswoman and Chairwoman of the House Financial Services Committee Maxine Waters announced the new assignments of House Financial Services Committee members for the 117th Congress. On January 21, the CFPB issued its semi-annual report to Congress for the period of April 1, 2020, to September 30, 2020.

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Troutman Sanders

AUGUST 30, 2021

On August 23, Wired reported that the Power Apps portal service was misconfigured, which led to more than a thousand web applications accessible to the general public, “including data from a number of [COVID]-19 contact tracing platforms, vaccination sign-ups, [and] [COVID]-19 vaccination status.” To read the full report, click here.

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Troutman Sanders

JANUARY 11, 2021

On January 5, the Associated Press reported that the Kansas legislature is looking to “rewrite a law that allows people exposed to COVID-19 to refuse to disclose their close contacts to health officials.” However, other public health officials say, “the law hasn’t hurt contact tracing efforts[,]” because few people decline to cooperate.

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Troutman Sanders

SEPTEMBER 27, 2021

On September 22, the Internal Revenue Service announced that it awarded new contracts to three private sector collection agencies to collect overdue tax debts. Beginning September 23, taxpayers with unpaid tax bills may be contacted by one of the following three agencies: CBE Group, Inc., Coast Professional, Inc., and ConServe.

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Troutman Sanders

NOVEMBER 16, 2020

Privacy and Cybersecurity Activities: On November 13, Wired reported that an analysis of nearly 500 COVID-19 contact-tracing applications found significant differences in how much data they expect individuals to give up. For more information, click here. Check out this link to read more about the apps analyzed.

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Troutman Sanders

APRIL 5, 2021

” While it may sound similar to current contact tracing approaches, NIST’s method does not rely on pseudonyms; instead, NIST’s process uses “encounter IDs” to promote privacy. For those unfamiliar with contact tracing, click here. To read NIST’s full announcement, click here.

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Troutman Sanders

APRIL 19, 2021

” Regulators remind consumers that: FEMA will not initiate contact with anyone by phone or email; Only the person who incurred the expenses may apply for funds; and. FEMA has not authorized any company to assist consumers in completing applications.

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Troutman Sanders

JULY 7, 2021

In addition, cybercriminals are “also turning to trusted services like Dropbox, Google Drive, SendGrid, and Constant Contact” to distribute malware. A cybersecurity firm reported that there was a 161% increase in attacks using Cobalt Strike in 2020 compared to 2019. To read more about these cybercriminal activity trends, click here.

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Troutman Sanders

MAY 10, 2021

For those interested in learning more, see Troutman Pepper’s Law360 article about the privacy implications of contact tracing and vaccine passports. Also, countries should develop a robust tracing system. On April 28, the FTC reminded business leaders that they shouldn’t underestimate their role in data security oversight.

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Troutman Sanders

MARCH 22, 2021

“[S]taying on top of your credit report is one important tool to help manage your financial data” during the COVID-19 pandemic. ” To read the full post, click here. On March 16, the FTC reminded consumers they are eligible to acquire free weekly credit reports until April 20, 2022.

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Troutman Sanders

NOVEMBER 30, 2020

The poll’s findings arrive on the heels of another recent report that found significant differences in how much data contact-tracing applications expect individuals to give up. Trust is vital. For developers interested in learning more about privacy guidelines for COVID-19-related apps, read our primer on Law360.

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Troutman Sanders

MARCH 8, 2021

To learn about potential privacy implications, we recommend Troutman Pepper’s article , published earlier last year, that discussed privacy guidelines for COVID-19 contact-tracing app makers; many of the same privacy principles apply to retail pharmacies collecting customer information.

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Troutman Sanders

SEPTEMBER 21, 2020

While the study was conducted with an emphasis on determining whether Americans would be willing to share their information for contact tracing purposes, the study appears to find that individuals are increasingly likely to share medical information if it would generally assist in the pandemic response. Click here to read more.

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Account Recovery

JULY 29, 2022

WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first.

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Troutman Sanders

JUNE 22, 2023

FINRA’s emphasis on safeguarding senior investors and, principally, its oversight of managing supervisors is additionally codified in FINRA Rule 4512 (the Trusted Contact rule) and further in FINRA Rule 2165 (Financial Exploitation of Specified Adults).

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Troutman Sanders

NOVEMBER 30, 2021

We will continue to offer webinars related to legal issues and recent decisions affecting the consumer financial services industry caused by COVID-19 or otherwise. If you have any questions about this series, please contact us. VISIT OUR BLOG FOR REGULAR UPDATES.

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Qualco

OCTOBER 25, 2023

Open Banking fundamentally transforms financial services by unlocking new insights into customers' lives. It provides real-time information, helps analyse spending patterns, assess financial health, personalise products, and detect fraud. BOOK YOUR DEMO

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Fico Collections

JANUARY 27, 2021

In my series of posts on the disruption caused by the pandemic to financial services customers in the UK, and the impact on debt collection communications, I have explored: How this disruption affected customers’ ability to get in touch with their provider at a critical moment in time, using data from the FICO and Censuswide customer research.

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