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CFPB enters into consent order with debt buyer and its former CEO and owner
Published: 16/07/2018The CFPB announced last Friday that it had entered into a consent order with National Credit Adjusters, LLC (NCA), a privately-held company that owns several debt collection companies, and NCA’s ... Read moreSource: www.consumerfinancemonitor.com -
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Fifth amicus brief filed in support of All American Check Cashing
Published: 16/07/2018A fifth amicus brief has been filed in support of All American Check Cashing and the other appellants in their interlocutory appeal to the U.S. Court of Appeals for the Fifth Circuit of the district c ... Read moreSource: www.consumerfinancemonitor.com -
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CFPB to participate in new task force on market integrity and consumer fraud
Published: 16/07/2018The CFPB will be one of the members of the new Task Force on Market Integrity and Consumer Fraud (Task Force) to be established by the U.S. Department of Justice (DOJ). Last week, the DOJ announced t ... Read moreSource: www.consumerfinancemonitor.com
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Like our blog? Let the ABA know by August 7
Published: 16/07/2018The ABA Journal has begun accepting nominations for its ABA Journal Web 100. The Web 100 honors blogs, law podcasts, and tweeters followed by lawyers. It replaces the ABA’s Blawg 100 which was ... Read moreSource: www.consumerfinancemonitor.com -
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California Releases Second Revised Student Loan Servicer Regulations
Published: 13/07/2018The California Department of Business Oversight (DBO) has published a second round of modifications to its proposed regulations under the State’s Student Loan Servicing Act. As previously covered, th ... Read moreSource: www.consumerfinancemonitor.com -
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NYDFS calls for application of NY usury limits to all online lending and more regulation in online lending report
Published: 12/07/2018The New York Department of Financial Services (NYDFS) has issued an Online Lending Report that calls for the application of New York usury limits to all online lending and increased regulation of onli ... Read moreSource: www.consumerfinancemonitor.com
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Bureau joins task force on market integrity and consumer fraud
Published: 12/07/2018Scammers are constantly finding new ways to steal money from their victims, and anyone can potentially be a target. The Bureau has online resources to help consumers prevent, recognize, and report sca ... Read moreSource: www.consumerfinance.gov -
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President Trump issues executive order to change process used by CFPB and other federal agencies for hiring administrative law judges
Published: 11/07/2018In response to the U.S. Supreme Court’s decision in Lucia v. SEC, President Trump has issued an executive order that changes the process used by federal agencies for administrative law judges (A ... Read moreSource: www.consumerfinancemonitor.com -
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What Judge Kavanaugh could mean for the CFPB as a SCOTUS justice
Published: 11/07/2018As we discuss below, President Trump’s nomination of D.C. Circuit Judge Brett Kavanaugh to serve as a Justice of the U.S. Supreme Court could have significant implications for all federal agenci ... Read moreSource: www.consumerfinancemonitor.com
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New York City adopts new requirements for used car dealers
Published: 10/07/2018The New York City Department of Consumer Affairs (DCA) has adopted new rules for used car dealers, requiring all licensed dealers to make additional disclosures to consumers and creating a new consume ... Read moreSource: www.consumerfinancemonitor.com -
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More amicus briefs filed in support of All American Check Cashing
Published: 10/07/2018Three more amicus briefs have been filed in support of All American Check Cashing and the other appellants in their interlocutory appeal to the U.S. Court of Appeals for the Fifth Circuit of the distr ... Read moreSource: www.consumerfinancemonitor.com -
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RD Legal Funding and NYAG outline plans for proceeding in SDNY lawsuit
Published: 10/07/2018RD Legal Funding and the New York Attorney General have filed a joint submission with Judge Preska of the Southern District of New York regarding how they propose to proceed in the CFPB’s and NY ... Read moreSource: www.consumerfinancemonitor.com
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Brian Johnson named CFPB Acting Deputy Director
Published: 10/07/2018CFPB Acting Director Mick Mulvaney announced yesterday that he has selected Brian Johnson, who currently serves as CFPB Principal Policy Director, to serve as Acting Deputy Director. Before joining t ... Read moreSource: www.consumerfinancemonitor.com -
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CFPB issues report on final student loan payments and broader household borrowing
Published: 9/07/2018The CFPB has issued a new report, “Data Point: Final Student Loan Payments and Broader Household Borrowing,” which looks at repayment patterns for student loans and how borrowers who have ... Read moreSource: www.consumerfinancemonitor.com -
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All American Check Cashing and amici file briefs in Fifth Circuit interlocutory appeal
Published: 9/07/2018All American Check Cashing and the other appellants have filed their principal brief in their interlocutory appeal to the U.S. Court of Appeals for the Fifth Circuit of the district court’s ruli ... Read moreSource: www.consumerfinancemonitor.com
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Leandra English, CFPB Deputy Director, to resign and drop lawsuit against Acting Director Mulvaney and President Trump
Published: 6/07/2018Leandra English, who was appointed CFPB Deputy Director by former Director Cordray before his November 2017 resignation, announced today that she will resign as Deputy Director early next week. Ms. E ... Read moreSource: www.consumerfinancemonitor.com -
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State AGs urge Senators to reject bills addressing Madden and “true lender”
Published: 5/07/2018A group of 21 state attorneys general have sent a letter to the Senate majority and minority leaders as well as to the chairman and ranking member of the Senate Banking Committee urging them to reject ... Read moreSource: www.consumerfinancemonitor.com -
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NYDFS adopts regulation requiring registration of consumer credit reporting agencies, compliance with cybersecurity regulation
Published: 5/07/2018The New York Department of Financial Services (“NYDFS”) has adopted a regulation that requires “consumer credit reporting agencies” (“CCRAs”) to register with the NYDFS, prohibits CCRAs fr ... Read moreSource: www.consumerfinancemonitor.com
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CFPB Addresses Partial HMDA Exemption for Certain Depository Lenders
Published: 5/07/2018The Consumer Financial Protection Bureau (CFPB) recently issued a statement regarding the partial exemption from Home Mortgage Disclosure Act (HMDA) reporting requirements for certain lower mortgage v ... Read moreSource: www.consumerfinancemonitor.com -
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FTC and NY AG file lawsuit to stop phantom debt scheme
Published: 5/07/2018On June 26, 2018, the Federal Trade Commission and New York Attorney General’s Office filed a lawsuit against a debt broker, debt collector and their principals to shut down a phantom debt collection ... Read moreSource: www.consumerfinancemonitor.com -
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The principal issue in RD Legal Funding also merits attention
Published: 5/07/2018We have blogged twice (here and here) about the conclusion in RD Legal Funding that Title X of Dodd-Frank is unconstitutional because it provides that the sole director of the CFPB can be removed only ... Read moreSource: www.consumerfinancemonitor.com
