In this podcast, we look at the unique challenges that the CFPB’s proposal may create for student loans.  Our discussion focuses on how the proposal’s call attempt limits, time/place limits for calls, texts, and e-mails, and special restrictions that apply to the aggregation of multiple student loans could impact communications with borrowers.

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The New York Department of Financial Services (DFS) issued a press release yesterday to announce that it is leading a multistate investigation into the payroll advance industry.  A payroll advance allows an employee to access wages that he or she has earned before the payroll date on which such wages are to be paid by

Seven amicus briefs have been filed in support of Seila Law’s petition for a writ of certiorari that seeks review of the Ninth Circuit’s ruling that the CFPB’s single-director-removable-only-for-cause structure is constitutional.

The briefs were filed by:

The CFPB and the two industry trade groups that filed a lawsuit in a Texas federal district court challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) filed a new status report with the court on August 2.

The status report references the CFPB’s proposal to revise the Payday Rule to rescind the

The Department of Housing and Urban Development is expected to soon release proposed revisions to its 2013 rule under which HUD or a private plaintiff can establish liability under the Fair Housing Act (FHA) for discriminatory practices based on disparate impact even if there is no discriminatory intent (Rule).  The proposal has been submitted to

The CFPB’s focus on debt collection continues. In addition to proposing changes to debt collection rules, analyzing debt collector trade lines, and filing and participating as an amicus in debt-collection litigation, the CFPB recently announced a proposed settlement involving over $60 million in redress and penalties with debt collection companies Northern Resolution Group,

In a notice to be published in tomorrow’s Federal Register, the CFPB is extending the comment deadline for its proposed debt collection rules until September 18.  The proposal’s initial 90-day comment period was set to expire on August 19.

The Bureau states in the notice that it received two written requests from consumer advocates

In this podcast, we focus on provisions of the proposed rules that are of particular interest to the mortgage industry.  In addition to the special consumer definition, we look at the alternative content allowed in the validation notice and issues raised by the need to include the amount of the debt.  We also highlight areas

Advances in technology coupled with increasing regulatory scrutiny have created a challenging environment for the debt collection industry, a reality that we have been helping our clients navigate by providing comprehensive counsel—from assessing and designing debt collection-related compliance programs and evaluating potential collection partners to defending claims that may arise during examinations or enforcement investigations

The Solicitor General has filed a motion with the U.S. Supreme Court asking for an extension of the date by which the government must file its response to Seila Law’s petition for a writ of certiorari. The petition seeks review of the Ninth Circuit’s ruling that the CFPB’s single-director-removable-only-for-cause structure is constitutional.

The government’s response