Consumer Financial Services Law

JANUARY 6, 2017

A decision from a New Jersey district court serves as a reminder that call volume alone will not support a violation of the FDCPA. In Chisholm v. Afni, Inc., the issue before the court was “whether a series of 18 telephone calls from a debt collector, of which 17 were unanswered and one where the recipient hung up, unaccompanied by harsh or threatening language or back-to-back calls could reasonably be found to violate the FDCPA.

Debt collector 40

Debt collector Debtor Collections 40

Consumer Financial Services Law

JANUARY 4, 2017

The Department of Justice has entered into a proposed consent order with two Ohio based banks resolving allegations that the banks engaged in a pattern or practice of redlining in their mortgage lending practices by “structuring their businesses to avoid the credit needs of majority black neighborhoods” in four Ohio and Indiana MSAs. The banks, Union Savings Bank and Guardian Savings Bank, are both headquartered in Cincinnati Ohio and share common ownership and management.

Banks 40

Banks Loans Education Lender 40

Consumer Financial Services Law

JANUARY 3, 2017

The CFPB recently issued its monthly report of consumer complaints and turned its focus back to debt collection. The Report is a high level snapshot of trends in consumer complaints and provides a summary of the volume of complaints by product category, by company and by state. Additionally, it highlights a product type and a geographic area. Here are the highlights: Debt collection, mortgage and credit reporting continue to be the leaders in complaint volume; Debt collections complaints compris

Third-party Debt Collectors 40

Third-party Debt Collectors Student loans Student Loans Collections 40

Consumer Financial Services Law

JANUARY 2, 2017

The end of the year is always a time for reflection for me. As we kick 2016 to the curb, I thought I'd take this opportunity to look back at 2016 and look ahead to 2017. 2016: A Look Back Looking back at 2016, the first things that come to my mind are the aggressive rule making agenda undertaken by the CFPB and their struggle to implement rules based upon a less than full understanding of the industries they attempt to regulate.

Financial services 40

Financial services Law Firms Lawyers Trade 40

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.