Consumer Credit Credit Unions Debt collector 
Account Recovery
MARCH 28, 2024
A District Court judge in West Virginia has denied a motion to dismiss filed by a credit union that is facing a class-action lawsuit for violating the West Virginia Consumer Credit and Protection Act by charging a $5 fee to make payments over the telephone, ruling the credit union is a debt collector under the […]
Account Recovery
FEBRUARY 24, 2025
District Court for the Eastern District of Texas granted the CFPBs unopposed motion for a 90-day stay in the litigation filed by Cornerstone Credit Union League and Consumer Data Industry Association (the Plaintiffs). In an alarming trend, we are seeing more consumer actions being brought for abandoned litigation.
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Troutman Sanders
DECEMBER 21, 2021
Federal Activities: On December 16, the Consumer Financial Protection Bureau (CFPB) issued a series of orders to five companies offering “buy now, pay later” (BNPL) credit. The CFPB is concerned about accumulating debt, regulatory arbitrage, and data harvesting in a consumer credit market already quickly changing with technology.
Collection Industry News
MAY 18, 2021
While consumer groups praised the bill for its recourse for consumers harassed by debt collectors, CUNA and NAFCU saw the bill as complicating the legal relationship between consumers, members and lenders. In the letter, Nussle stated, “Lenders rely on complete and accurate credit reports when underwriting loans.
Collection Industry News
MARCH 28, 2022
The Department has also begun licensing debt collectors. The first change under the CCFPL was a new name for the Department which was formerly the Department of Business Oversight.
Collection Industry News
MARCH 15, 2021
SACRAMENTO – More than a year into the COVID-19 pandemic, the California Department of Financial Protection and Innovation (DFPI) continues to expand efforts to protect consumers from financial impacts of the lethal virus that has ravaged the state’s economy and killed more than 53,000 Californians.
Troutman Sanders
JUNE 21, 2022
Covered institutions include banks, savings associations, credit unions, and mortgage companies. As the most comprehensive publicly available information on mortgage market activity, HMDA data is used by industry, consumer groups, regulators, and others to assess potential fair lending risks and for other purposes.
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