• 04.10.19

    California’s DBO: New Leader, New Enforcement, New Bureau?

    The California Department of Business Oversight (DBO) will likely have a new commissioner in the coming months, with Affirm General Counsel and Chief Compliance Officer Manuel “Manny” Alvarez tapped to take the helm.

  • 04.10.19

    CFPB News: Advisory Committee Changes, Constitutionality Hearing

    What’s new at the Consumer Financial Protection Bureau (CFPB or Bureau)?

  • 03.27.19

    Third Circuit Snares Passive Debt Buyers in FDCPA

    Passive debt buyers are debt collectors under the Fair Debt Collection Practices Act (FDCPA) if their “principal purpose” is buying debt, even if they outsource collections, the U.S. Court of Appeals for the Third Circuit has ruled, broadening liability under the statute.

  • 03.27.19

    Madden Litigation Sputters Out With Settlement

    After eight years of litigation—and a major ruling from the U.S. Court of Appeals for the Second Circuit that has spawned uncertainty and a chilling effect for lenders—the parties in Madden v. Midland Funding have reached a deal that would bring the case to a close.

  • 03.20.19

    Supremes Resolve Circuit Split Under FDCPA Impacting Law Firms

    In a key decision resolving a split among appeals courts, the Supreme Court unanimously ruled today, in Obduskey v. McCarthy & Holthus LLP, that law firms that carry out nonjudicial foreclosures are not considered debt collectors under the Fair Debt Collection Practices Act.

  • 03.13.19

    Deal Final in FTC’s Action Against Online Lender

    The Federal Trade Commission (FTC) has finalized its deal with SoFi, an online lender that the agency had accused of making false statements about student loan refinancing.

  • 03.13.19

    From Fintech Charters to Sandboxes

    Financial technology news includes the continuing battle over the Office of the Comptroller of the Currency’s (OCC) plan to issue special-purpose national bank (“fintech”) charters, with the agency seeking to dismiss lawsuits by the Conference of State Bank Supervisors (CSBS) and ...

  • 03.13.19

    Credit Unions Push DOJ for ADA Guidance

    Financial institutions need help, the Credit Union National Association (CUNA) told newly confirmed U.S. Attorney General William Barr, urging the Department of Justice (DOJ) to provide clear guidance on how it believes the Americans with Disabilities Act (ADA) applies to website accessibility.

  • 03.13.19

    RESPA New Private Actions? Massachusetts OKs NOE Error Suit

    Just a limited set of Real Estate Settlement Procedures Act (RESPA) claims allow for private rights of action, but the list might be growing larger.

  • 02.27.19

    CFPB News: Short-Term Lending, Enforcement Concerns, Disclosure Sandbox

    Short-term lending remains in the news at the Consumer Financial Protection Bureau (CFPB or Bureau), with the CFPB proposing to rescind key ability-to-repay provisions of a much-debated payday lending rule and with the announcement of a $100,000 enforcement action settlement with a short-term ...