Collection Industry News

JUNE 14, 2021

The Consumer Financial Protection Bureau is making a comeback. The CFPB, which oversees financial institutions with a keen focus on consumer protection and ensuring financial markets are fair and equitable, was a diminished force during the Trump administration.

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Troutman Sanders

JANUARY 17, 2023

The case marks the first time that the FTC has collected civil penalties against a company that received the “notice of penalty offenses” for money-making opportunities sent in October 2022 and the first civil penalties for violations of the Restore Online Shoppers’ Confidence Act. French Hill (R-AR). For more information, click here.

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Troutman Sanders

FEBRUARY 16, 2022

In January 2022, the Consumer Final Protection Bureau (CFPB) Office of Minority and Women Inclusion issued a report on diversity and inclusion within the financial service industry. For more information, click here. For more information, click here. For more information, click here. For more information, click here.

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Troutman Sanders

AUGUST 3, 2020

On July 29, 2020, Senators Chris Van Hollen and Chris Murphy introduced the COVID-19 Medical Debt Collection Relief Act, S.4350, This bill would prevent healthcare providers from taking “extraordinary” collection actions for up to 18 months after the bill becomes law as a means of protecting consumers during the coronavirus pandemic.

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