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The Consumer Financial Protection Bureau (CFPB), created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, which does not have official authority until the designated transfer date, July 21, 2011, has launched its Web site at
On January 10, 2011, the Inspectors General of the Department of the Treasury and Federal Reserve Board wrote to Rep. Spencer Bachus (R-Ala.), Chair of the House Committee on Financial Services, and Rep. Judy Biggert (R-Ill.), Chair of the Subcommittee on Insurance, Housing and Community Opportunity, to respond to their numerous questions about Treasury’s activities to establish the Consumer Financial Protection Bureau
Resolving a conflict in the circuits, on January 24, 2011, a unanimous U.S. Supreme Court ruled, in Chase Bank USA, N.A. v. McCoy, that under the Truth in Lending Act (TILA) and Regulation Z as they existed at the time, Chase Bank was not required to notify its cardholder when it increased the interest rate on his account because of his default
The U.S. Court of Appeals for the Third Circuit has ruled that the federal Fair Debt Collection Practices Act (FDCPA) applies to a debt collector’s communications with the debtor’s attorney
