Troutman Sanders

FEBRUARY 1, 2024

Please join Troutman Pepper Partners Chris Willis and Michael Lacy for a special inside look at our annual publication of the Consumer Financial Services Year in Review and Look Ahead. To download a copy of the Consumer Financial Services Year in Review and Look Ahead , please click here.

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Troutman Sanders

FEBRUARY 1, 2024

We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging 2023. Courts across the country issued rulings that will have immediate and lasting impacts on the industry.

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FFGN COLLECT NY

JANUARY 10, 2024

Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike. The governor will also give the New York Attorney General and others more power to stop exploitative tactics and expand consumer protection laws.

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Troutman Sanders

JULY 27, 2023

Please join Troutman Pepper Partner Chris Willis and his colleague Kim Phan as they discuss the new California Privacy Rights Act (CPRA) and the creation of the California Privacy Protection Agency (CPPA), California’s first state agency focused exclusively on privacy.

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Collection Industry News

MARCH 17, 2024

Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike. The governor will also give the New York Attorney General and others more power to stop exploitative tactics and expand consumer protection laws.

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Troutman Sanders

AUGUST 11, 2022

Please join Consumer Financial Services Partner Chris Willis and his guests and colleagues James Stevens and Carlin McCrory as they discuss the consumer protection and safety and soundness sides of credit union regulation. Transcript: Consumer Protection and Safety and Soundness Perspective of Credit Union Regulation (PDF).

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Troutman Sanders

AUGUST 23, 2023

In this episode of The Consumer Finance Podcast, Troutman Pepper Partner Chris Willis is joined by colleagues Ethan Ostroff and Trey Smith to discuss the current landscape of cryptocurrency regulation and enforcement.

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Financial services 52

Collection Industry News

DECEMBER 11, 2020

On Friday, Representative Maxine Waters (D-CA-43)—the Chairwoman of the House Financial Services Committee—sent a letter to President-elect Biden urging him and Vice President-elect Harris to rescind the Consumer Financial Protection Bureau’s recently-released final debt collection rule and to take several other actions.

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Troutman Sanders

JUNE 15, 2023

On June 12, the Federal Trade Commission (FTC or Commission) published a request for public comment seeking comments and suggestions on effective coordination efforts with state attorneys general nationwide to help educate and protect consumers from potential fraud.

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Troutman Sanders

JULY 6, 2023

Please join Troutman Pepper Partner Chris Willis and colleagues Keith Barnett, Carlin McCrory, and Josh McBeain as they discuss the Consumer Financial Protection Bureau’s (CFPB) larger participant rule for consumer payments mentioned in its 2023 semi-annual rulemaking agenda.

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Government 52

Troutman Sanders

JANUARY 3, 2024

Celsius Network, which filed for Chapter 11 protection in July 2022, has scaled back its ambitions after the SEC rejected its plan to earn fees from validating digital asset transactions and start new lines of business. The approval of spot Bitcoin ETFs is expected to bring additional institutional investment into the digital asset industry.

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Nexa Collect

NOVEMBER 26, 2022

This means all collection agencies must secure consumer data nearly the same way as banks. Transaction information such as account numbers, payment history, loan balances and information from court records or consumer reports. Protecting Your Customer’s Nonpublic Personal Information (NPI). Consumer reports.

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Troutman Sanders

JUNE 3, 2022

On June 1, the California Department of Financial Protection and Innovation (DFPI) released an invitation for comment on the DFPI’s regulatory approach to crypto asset-related financial products and services, as well as the potential regulation of such products and services under the California Consumer Financial Protection Law (CCFPL).

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PDC Flow

JANUARY 26, 2021

Here are just some of the many financial services podcasts available centering on accounts receivable , consumer finance and other aspects of business that can strengthen your skills and keep your company current. Even for those who don’t work in banking or investing will encounter relevant topics while running a business.

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Sawin & Shea

JANUARY 11, 2024

They cover topics like creating a budget, using credit wisely, and avoiding financial pitfalls down the road. Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act ( BAPCPA ) in 2005. These courses are designed to give filers the money management skills they need to set them up for success moving forward.

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True Accord

JUNE 29, 2023

In today’s financial landscape, regulators at both the federal and state level are driving accountability for companies when it comes to data protection and security. This underscores the importance of protecting customer information in a digital age where information has its own intrinsic value.

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Troutman Sanders

JULY 11, 2023

In this episode of Payments Pros , our hosts Keith Barnett, Carlin McCrory, and Josh McBeain join their colleague Chris Willis to discuss the Consumer Financial Protection Bureau’s (CFPB) larger participant rule for consumer payments mentioned in its 2023 semiannual rulemaking agenda.

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Government 40

Troutman Sanders

JULY 8, 2022

On June 28, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule , encouraging states to enact more laws regulating consumer reporting, arguing that states’ powers are only constrained in limited ways by the Fair Credit Reporting Act (FCRA). As a result, the scope of permissible state regulation is broad.

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Troutman Sanders

FEBRUARY 1, 2022

Last month, the Consumer Financial Protection Bureau (CFPB) issued orders to five companies offering buy now, pay later (BNPL) products, asking them to provide information on several topics, including: Business models, BNPL performance metrics, Disclosures and other consumer protections, User demographics, and.

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True Accord

SEPTEMBER 8, 2022

CCPA: The California Consumer Privacy Act (CCPA) gives consumers in California rights over the personal information that businesses collect and process about them. CFPB: The Consumer Financial Protection Bureau (CFPB) is an agency of the United States government responsible for consumer protection in the financial sector.

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Troutman Sanders

JANUARY 24, 2023

On January 24, the Consumer Financial Protection Bureau (CFPB) announced it is seeking public comment on how the consumer credit market is functioning as part of its biennial review required by the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act). The CFPB will be accepting comments until April 24.

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Consumer Credit 52

Troutman Sanders

FEBRUARY 21, 2023

As we previously reported on the blog, the Consumer Financial Protection Bureau (CFPB) recently published a proposed rule that would dramatically cut the safe harbor for credit card late fees. On bank fees specifically, President Biden said “We’ve reduced exorbitant bank overdraft fees, saving consumers more than $1 billion a year.

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Banks Financial services 52

Public Citizen

FEBRUARY 24, 2021

Panel I - Antiracist Policy in Consumer Law - March 4, 4:00 PM (All times are CST.). The symposium's first panel will highlight antiracist policy arising in the various areas of consumer law. Panel III - The Government's Role on Consumer Protection - March 5, 10:40 AM.

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Public Citizen

FEBRUARY 20, 2022

The effort was led by Berkeley's Center for Consumer Law and Economic Justice and resulted in production of a series of short memoranda available here. Topics covered include discrimination, arbitration, income share agreements, BNPL, substitution effects of regulation, disclosures, overdraft protections, and more.

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Troutman Sanders

SEPTEMBER 19, 2023

In response to a petition filed last week by a number of consumer advocacy groups, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it will be seeking public input on a possible rule that would curtail mandatory pre-dispute arbitration provisions.

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TCPA

NOVEMBER 9, 2020

eastern for a lively roundup of recent developments and hot topics hosted by Faegre Drinker’s Telephone Consumer Protection Act (TCPA) team. Please join us on Thursday, December 10 at 12:30 p.m. Our attorneys will convene government and industry professionals to … Continue reading →

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Troutman Sanders

MARCH 23, 2023

A federal magistrate judge in Rhode Island has ruled that the Consumer Financial Protection Bureau (CFPB or Bureau) must produce three employees for depositions, denying the agency’s motion for a protective order. The complaint alleges violations of the Truth in Lending Act and the Consumer Financial Protection Act of 2010.

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Troutman Sanders

NOVEMBER 8, 2023

On November 7, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with request for public comment to amend existing regulations defining “larger participants” the CFPB supervises by adding a new section to define larger participants that offer digital wallets, payment applications, and similar services.

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Jimerson Firm

JANUARY 2, 2024

Purchasing a home is one of the most important—and stressful—purchases a consumer makes. For first-time homebuyers, there are a lot of unknowns, and for sellers, there is much to consider to protect oneself and get the best money for your investment. Oftentimes, the process is long, tedious, and nerve-racking.

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Troutman Sanders

FEBRUARY 15, 2023

On February 14, the Consumer Financial Protection Bureau (CFPB or Bureau) published a blog discussing improvements made to its services with the goal of providing the same experience to consumers with limited English proficiency (LEP) that its English-speaking consumers receive.

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Troutman Sanders

AUGUST 26, 2020

Convenience fees have emerged as a prominent topic and potential source of litigation in the accounts receivable management (ARM) industry as creditors and debt collectors look to defray the expense of payment processing.

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Troutman Sanders

OCTOBER 27, 2021

The California Privacy Protection Agency (CPPA) is the first state privacy agency in the nation and was created as part of the California Privacy Rights Act (CPRA). In these academic roles, Soltani’s research has focused on areas, such as consumer protection, online tracking, surveillance, and mobile privacy. CPRA Rulemaking.

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Public Citizen

APRIL 28, 2021

We received the following call for papers: The 2021 Global Forum for Financial Consumers (GFFC). Organized by International Academy of Financial Consumers (IAFICO) Call for Papers (1 st )   August 6 th  ~ 7 th , 2021 Format: Online & onsite webinar Onsite venue: Seoul National Univ.,

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Credit Corp

DECEMBER 4, 2023

According to the Consumer Financial Protection Bureau , credit card issuers must reconsider a cardholder’s penalty interest rates after six months. These rules apply to consumer credit cards, not those issued to small businesses. How Long Will a Penalty Rate Last? The post What Is Penalty APR? +

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Fico Collections

JANUARY 5, 2023

consumers who don’t have enough credit history to generate a traditional FICO ® Score, over 15 million could receive an UltraFICO ® Score. FICO has been the pioneer in incorporating data from outside the credit bureaus, like cash flow data, to obtain a clearer and more accurate picture of consumer financial risk. FICO Admin.

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Troutman Sanders

FEBRUARY 25, 2022

On February 24, the Consumer Financial Protection Bureau (CFPB or Bureau) released a blog post , outlining multiple auto lending topics in the wake of rising vehicle prices. According to Bureau of Labor Statistics data , the consumer price index has risen 40% for used cars and trucks and 12% for new cars since January 2021.

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Troutman Sanders

MARCH 13, 2023

House Financial Institutions and Monetary Policy Subcommittee held a hearing entitled “Consumer Financial Protection Bureau [CFPB]: Ripe for Reform.” The Consumer Financial Protection Commission Act. On March 9, the U.S. The CFPB–IG Reform Act. This bill would establish a separate Office of Inspector General for the CFPB.

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