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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On November 9, the Department of Education (DOE) announced its plan to implement an oversight strategy of federal student loan servicers that provides several pathways for identifying problems that can harm borrowers, in real-time. For more information, click here. For more information, click here. For more information, click here.

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CFPB Supervisory Report Finds Issues in Several Financial Institution Practices

Troutman Sanders

Summarized below are those issues identified in the areas of auto servicing, consumer reporting, credit card account management, debt collection, deposits, mortgage origination, prepaid accounts, remittances, and student loan servicing. Debt Collection. Student Loan Servicing. Auto Servicing.

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CFPB Supervisory Report Finds Issues in Several Financial Institution Practices

Collection Industry News

Summarized below are those issues identified in the areas of auto servicing, consumer reporting, credit card account management, debt collection, deposits, mortgage origination, prepaid accounts, remittances, and student loan servicing. Debt Collection. Student Loan Servicing. Auto Servicing.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On June 8, the CFPB acted against a medical debt collector for numerous debt collection and credit reporting violations. In at least thousands of cases, the debt collector continued to attempt to collect on a debt that was not substantiated after a consumer disputed the validity of the debt.

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Out With the Old, In With the Old? Dave Uejio as Acting CFPB Director Until Rohit Chopra is Confirmed and Sworn In

Troutman Sanders

On January 20, the White House announced the acting agency leadership in the next phase of the transition of government. Uejio currently serves as the chief strategy officer, and he previously served as the acting deputy chief of staff and lead for talent acquisition.