CFPB, Federal Agencies, State Agencies, and Attorneys General
It’s official! We have our first-ever federal court opinion evaluating the requirements of Regulation F! Okay, maybe “evaluating” isn’t the right word. “Reading Regulation F out loud” is more like it.
If you’re collecting debt for nursing home care, you might want to double check who is responsible for payment. Last week, in conjunction with a field hearing, the CFPB issued a new Consumer Financial Protection Circular and an Issue Spotlight on Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA) violations in connection with nursing home debt. … Continue Reading
On August 31, 2022, the California Senate voted to approve House Assembly Bill 156, and sent the bill to Governor Newsom for consideration and potential signature. If it becomes law, the bill would amend the existing California Debt Collection Act (the “DCLA”) in three ways.
First, the bill would amend provisions of Cal.… Continue Reading
In a blog post published last week, the CFPB looked at the connection between eligibility for financial assistance under policies mandated by the Affordable Care Act (ACA) and medical collections. The ACA requires nonprofit hospitals to establish financial assistance policies for consumers who are unable to pay for their medical expenses.… Continue Reading
The CFPB has announced that on September 8, 2022, it will hold a field hearing on nursing home debt collection practices. The event will be hosted by Director Chopra.
In its announcement, the CFPB states that the event will bring together “advocates, service providers, community leaders, and members of the public to explore challenges around nursing home debt collection practices and the impact they can have on the financial wellbeing of caregivers, their families, and friends.”… Continue Reading
Some people just don’t like change. New developments are often opposed by small groups prioritizing their own self-interest over the interests of the community at large. In real estate, these groups are sometimes known as “NIMBYs,” short for their rallying cry: “Not in My Backyard!” Well, it looks like debt collectors may have some NIMBYs of their own.… Continue Reading
It is my pleasure to introduce to our blog readers the newest member of our growing Consumer Financial Services Group: Abigail Pressler. Abigail is one of the leading lawyers in the country who focus their practice on compliance with the laws that pertain to consumer debt collection. Abigail counsels creditors, third-party debt collectors and debt buyers with respect to the vast array of federal and state laws that cover consumer debt collection.… Continue Reading
Last week, the CFPB published additional frequently asked questions on Regulation F, its debt collection rule. The new FAQs address third-party communications, electronic communications, and unusual or inconvenient time and place provisions.
Prohibitions on Third-Party Communications. The FAQs address the following questions:
As discussed in an earlier blog post, the California Department of Financial Protection and Innovation (“DFPI”) issued an Invitation for Comments on the Proposed Second Rulemaking under the Debt Collection Licensing Act (“DCLA”) on August 19, 2021. The Commissioner is now considering draft regulations related to the DCLA’s scope, annual report, and document retention requirements, and has issued an “Invitation for Comments on Draft Text for Proposed Second Rulemaking Under the Debt Collection Licensing Act.”… Continue Reading
The CFPB has issued an advisory opinion that addresses when the Fair Debt Collection Practices Act permits a debt collector to charge “pay-to-pay” or “convenience fees,” such as fees imposed for making a payment online or by phone.
FDCPA section 808(1) prohibits debt collectors from collecting “any amount (including any interest, fee, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law.” … Continue Reading
