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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Annual report requirements will be adopted through a separate rulemaking.

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Fourth Circuit Weights in on the Time Barred Proof of Claim Debate

Consumer Financial Services Law

Joining the proof of claim fray, the Fourth Circuit has held that the filing of a time barred proof of claim does not violate the FDCPA when the statute of limitations does not extinguish the debt. Atlas Acquisitions, No. 15-1495, 2016 U.S. LEXIS, *22-23 (4 th Cir. It simply limits the avenues of recourse. ·

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Is The CFBP's Position On Credit Reporting Statements Consistent With The Case Law?

FDCPA Defense

The CFPB does not want debt collectors to tell consumers that paying their debts might help them to improve their credit score. Nor does the CFPB want collectors to encourage consumers to pay by informing them that their failure to do so might harm their credit. Equifax Check Services, Inc., 3d 410, 418 (7th Cir.