Collections & Recovery

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CFPB Releases Semiannual Regulatory Agenda Amid House Financial Services Committee Leaders’ Calls to Halt Rulemaking

By Stefanie Jackman in CFPB

In December, the Consumer Financial Protection Bureau (CFPB or Bureau) released its semiannual regulatory agenda, outlining its planned rulemaking initiatives. This agenda includes a mix of rules in the pre-rulemaking, proposed…

January 7, 2025 by Joann Needleman in CFPB

Navigating the New CFPB Overdraft Rule: Implications for Financial Institutions

The Consumer Financial Protection Bureau (CFPB) recently finalized its “Overdraft Lending: Very Large Financial Institutions Rule,” introducing sweeping changes to how overdraft credit is structured and regulated for the largest…

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January 7, 2025 in Press Releases

Credit Control, LLC: America’s Best Workplaces Winner

St. Louis, Mo. — Already named a Best Place to Work in Collections for five consecutive years, Credit Control, LLC is proud to be recognized as one of America’s Best…

December 19, 2024 by Jason Cover in CFPB

Texas Federal Court Denies CFPB’s Motions and Finds Plaintiffs Likely to Succeed on the Merits in Significant Credit Card Late Fee Rule Decision

In a significant development in the ongoing litigation over the Consumer Financial Protection Bureau’s (CFPB or Bureau) Final Rule on credit card late fees, the U.S. District Court for the…

December 18, 2024 by Kristen E. Larson in CFPB

CFPB issues final rule to give bureau supervisory power over digital consumer payment applications

The CFPB has issued a final rule to supervise large nonbank financial services providers that offer general-use digital consumer payment applications such as digital wallets and peer-to-peer payment apps. Many of those…

December 12, 2024 by Lori Sommerfield in Data Security

OCC Releases Updated UDAAP Supervision and Examination Procedures Booklet

On December 3, the Office of the Comptroller of the Currency (OCC) issued version 1.1 of the “Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices” booklet…

December 11, 2024 by Auriemma Roundtables in Trends

End of Student Loan ‘On-Ramp’ Poses New Challenges for Borrowers and Financial Institutions

For the first time since 2020, student loan borrowers will soon see missed payments and delinquencies reflected in their credit bureau scores, marking the end of a 12-month “on ramp”…

November 26, 2024 in Press Releases

SIMM Associates, Inc. Completes Annual Renewal of Key Security and Compliance Certifications: PCI-DSS Level 1, SOC 1 Type 2, SOC 2 Type 2 and ISO 27002/HIPAA

Newark, Del. — SIMM Associates, Inc., a leading provider of ARM/BPO and probate debt collection servicing, is proud to announce the successful completion of its annual renewal process for several…

November 21, 2024 by Ronald K. Vaske in CFPB

Case in which CFPB came to financial institutions’ defense dismissed

An Illinois federal judge has dismissed a proposed class action lawsuit that alleged that two Midwestern banks failed to provide repayment disclosures to borrowers, in a case that was unique because the…

CFPB Releases Semiannual Regulatory Agenda Amid House Financial Services Committee Leaders’ Calls to Halt Rulemaking

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Latest Posts

Navigating the New CFPB Overdraft Rule: Implications for Financial Institutions

Credit Control, LLC: America’s Best Workplaces Winner

Texas Federal Court Denies CFPB’s Motions and Finds Plaintiffs Likely to Succeed on the Merits in Significant Credit Card Late Fee Rule Decision

CFPB issues final rule to give bureau supervisory power over digital consumer payment applications

OCC Releases Updated UDAAP Supervision and Examination Procedures Booklet

End of Student Loan ‘On-Ramp’ Poses New Challenges for Borrowers and Financial Institutions

SIMM Associates, Inc. Completes Annual Renewal of Key Security and Compliance Certifications: PCI-DSS Level 1, SOC 1 Type 2, SOC 2 Type 2 and ISO 27002/HIPAA

Case in which CFPB came to financial institutions’ defense dismissed

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Trends

Subprime Borrowers More Likely to Abandon Auto Loans: How Lower Interest Rates Result in Increased Repossessions

CFPB Says Earned Wage Access Products Are Subject to the Truth in Lending Act

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COMPLIANCE

CFPB Proposes Amendments to Disclosure Requirements Under Remittance Transfer Rule

Fourth Circuit Affirms Denial of Motion to Compel Arbitration Finding Duty to Read a Contract Does Not Encompass Scrolling Through Multiple Pages of Hyperlinks in a Digital Agreement

CFPB Takes Dual Action Against Bank Holding Company for Alleged Unlawful Repossesions and Sales Practices

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