CFPB, Federal Agencies, State Agencies, and Attorneys General
The CFPB has announced that it will hold a field hearing about arbitration in Denver, Colorado on October 7, 2015 and has asked Alan Kaplinsky, Practice Leader of Ballard Spahr’s Consumer Financial Services Group, to represent industry at the hearing.
As the CFPB typically uses field hearings as the venue for announcing new developments, we expect the CFPB has scheduled this hearing in anticipation of taking the next step towards issuing a proposed arbitration rule. … Continue Reading
On March 10, 2015, the CFPB held a field hearing on arbitration. At the hearing, Alan S. Kaplinsky, Practice Leader of Ballard Spahr’s Consumer Financial Services Group, presented the industry’s perspective on arbitration agreements. (The hearing coincided with the CFPB’s release of the final results of its consumer arbitration study as mandated by Section 1028 of the Dodd-Frank Act.)… Continue Reading
On May 14th, the same day that the CFPB launched a public inquiry into student loan servicing loan practices (the “Request for Information”), the CFPB held a public field hearing in Milwaukee, Wisconsin to address issues with the student loan servicing industry. After a brief introduction by Zixta Martinez, Assistant Director of Community Affairs for the CFPB, Under Secretary of the U.S.… Continue Reading
On March 26th, the Community Financial Services Association (“CFSA”) held a press call to address the CFPB’s rulemaking process for developing payday loan regulations. CFSA Chief Executive Officer Dennis Shaul offered brief opening remarks before answering questions from the press immediately prior to a CFPB field hearing on payday loans being held in Richmond, VA.… Continue Reading
On March 10th, the CFPB held a public field hearing in Newark, New Jersey to address the release of its arbitration report to Congress. The event featured opening remarks from Director Richard Cordray, as well as commentary from consumer groups, industry representatives and members of the public. According to Director Cordray, the report was based on the CFPB’s review of:
The CFPB has asked Alan Kaplinsky to present the industry perspective at a field hearing on arbitration in Newark, New Jersey, tomorrow. As the Bureau typically uses field hearings as the venue for announcing new developments, we expect that this hearing is likely to coincide with the release and submission to Congress of the Bureau’s arbitration study, which it conducted under Section 1028 of the Dodd-Frank Act.… Continue Reading
The CFPB has announced that it will hold a field hearing on medical debt collection in Oklahoma City, OK on December 11. The hearing will include remarks from Director Cordray and testimony from consumer groups, industry representatives, and members of the public.
The CFPB has previously flagged medical debt collection as an area of concern. … Continue Reading
Ballard Spahr to hold a webinar on the proposal at 12 p.m. ET on December 12th. A link to register is available here.
Yesterday I attended the Consumer Financial Protection Bureau’s (CFPB) field hearing in Wilmington, Delaware, at which the CFPB unveiled and accepted public comment on its long-awaited proposed rule for prepaid accounts under the Electronic Fund Transfer Act (Regulation E) and the Truth In Lending Act (Regulation Z) (the Rule). … Continue Reading
On October 30, Barbara Mishkin reported that the CFPB scheduled a field hearing in Wilmington, Delaware on November 13. Barbara speculated at that time that the field hearing would be the occasion for the CFPB to unveil its long-awaited proposed regulation pertaining to prepaid cards. The CFPB has updated its announcement to state that the hearing will deal with “prepaid accounts.”… Continue Reading
Departing from its past practice, the CFPB has announced that it will hold a field hearing in Wilmington, Delaware on November 13 but has not yet disclosed what the hearing will be about. Instead, the announcement says only that “[m]ore information about the event will follow.” It also contains the standard statement that the event will feature remarks from Director Cordray, as well as testimony from consumer groups, industry representatives, and members of the public.… Continue Reading
