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Maurice Wutscher LLP | USA | 5 Jul 2022
CFPB Issues Advisory Opinion on ‘Convenience’ or ‘Speed Pay’ Fees
The federal Consumer Financial Protection Bureau has issued an Advisory Opinion on “convenience” or “speed pay” fees, such as “fees imposed for…
Bradley Arant Boult Cummings LLP | USA | 30 Jun 2022
CFPB Issues Advisory Opinion Clarifying Its Views on When Debt Collectors Can Charge Consumers “Convenience Fees”
The Consumer Financial Protection Bureau (CFPB) issued an Advisory Opinion on June 29, 2022, clarifying its view as to the legality under the Fair…
Troutman Pepper | USA | 30 Jun 2022
CFPB Targets Convenience Fees in Latest Advisory Opinion
On June 29, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an Advisory Opinion focused on consumer debt collectors and the…
Seyfarth Shaw LLP | USA | 29 Jun 2022
CFPB Concludes Most Convenience Fees Charged by Debt Collectors Violate the FDCPA
Following its recent “initiative” and request for information to reduce “exploitative junk fees,” the Consumer Financial Protection Bureau (“CFPB”)…
Troutman Pepper | USA | 28 Jun 2022
NY District Court Rules Consumer With No Intent to Pay a Debt Lacks Standing in FDCPA Claim for Conflicting Collection Letters
A consumer made charges on a credit card account, which she failed to pay as agreed. The creditor referred the account to a law firm, which served…
Maurice Wutscher LLP | USA | 26 Jun 2022
6th Cir. Holds ‘Objectively Baseless’ Debt Collection Lawsuit Violated FDCPA
The U.S. Court of Appeals for the Sixth Circuit recently ruled that a debt collector violated the federal Fair Debt Collection Practices Act when it…
DLA Piper | USA | 21 Jun 2022
Consumer Finance Regulatory News and Trends
The Consumer Financial Protection Bureau (CFPB) announced a new inquiry regarding practices by employers that may make employees indebted to…
Venable LLP | USA | 15 Jun 2022
States Encouraged by CFPB to Enforce Federal Consumer Financial Law
The Consumer Financial Protection Bureau ("the Bureau" or CFPB) released an Interpretive Rule—which is exempt from notice-and-comment requirements of…
Goodwin Procter LLP | USA | 14 Jun 2022
CFPB and NY AG Reach $4 Million Settlement with Debt Collectors
On May 23, 2022, the Consumer Financial Protection Bureau (CFPB) and the New York Attorney General (NY AG) announced that they have settled a case…
Maurice Wutscher LLP | USA | 13 Jun 2022
11th Cir. Holds TILA Periodic Statements Can Trigger FDCPA, FCCPA Liability
The U.S. Court of Appeals for the Eleventh Circuit recently reversed a trial court’s dismissal of a consumer’s complaint against a mortgage servicer…
