Sat.Sep 17, 2016 - Fri.Sep 23, 2016

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Wells Fargo is Not the End of the Incentive Compensation Discussion

Consumer Financial Services Law

Prepared remarks and testimony of Thomas J. Curry, the Comptroller of the Currency, to the Senate Committee on Banking, Housing and Urban Affairs make it imminently clear that cross-selling, sales practices and related incentive compensation will be a focal point for examinations of banks of all sizes and that the OCC continues to review the Wells Fargo matter for "individual misconduct and culpability.

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Money Issues We Don’t Talk About; But Really Should

Ks Law

We don’t talk about things that make us feel uncomfortable, and many people are very uncomfortable talking about their financial problems. Often, people with such problems will hide all evidence of financial distress. Some people do this with a misguided sense of protecting their loved ones. If I don’t tell my spouse about the problems my business is having, or our income and expense problems, he or she won’t worry.

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CFPB Provides Some Hints as to First Party Debt Collection Rules

Consumer Financial Services Law

In prepared remarks to the National Association of Federal Credit Unions, the CFPB provided some hint as to what we can expect with regard to first party debt collection rules. In July, the CFPB released a debt collection proposal regarding traditional third party debt collectors. At the time, the CFPB stated that it would also be releasing a debt collection proposal addressed to first party debt collectors at a later date.

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New Jersey District Court Rejects Meaningful Involvement Claim

Consumer Financial Services Law

A New Jersey district court has dismissed an FDCPA claim which alleged a debt collection complaint was misleading because the collection attorneys were not meaningfully involved in its preparation. Lopez v. Law Offices of Faloni & Assocs., LLC , 2016 U.S. Dist. LEXIS 124730 (D.N.J. Sept. 14, 2016). In Lopez, the consumer alleged that the collection firm violated 15 U.S.C. §§1692e and f by filing the complaint “without first having an attorney individually review the file, make the appropriat

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

Speaker: Erika R. Bales, Esq.

When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.

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Fifth Circuit Weighs in on Time Barred Debt

Consumer Financial Services Law

The Fifth Circuit has joined the growing split in circuits concerning the collection of time barred debt. In Daugherty v. Convergent Outsourcing, Inc., 2016 U.S. App. LEXIS 16531 (5th Cir. Tex. Sept. 8, 2016) , the Fifth Circuit joined the Sixth and Seventh Circuit in holding that “a collection letter that is silent as to litigation, but which offers to “settle” a time-barred debt without acknowledging that such a debt is judicially enforceable, can be sufficiently deceptive or misleading to vio