Consumer Financial Services Law

MAY 30, 2017

By Vanessa Garrido The CFPB has issued a Request for Information (RFI) to collect data that will shed light on how small businesses engage with financial institutions, with a particular focus on women-owned and minority-owned small businesses. Of the estimated 27.6 million small businesses in the United States, over 7 million of these businesses are minority-owned and over 8.4 million are women-owned.

Financial Institution 40

Financial Institution Lender Loans Collections 40

FDCPA Defense

MAY 11, 2017

Grappling with the meaning of the so-called “meaningful involvement” doctrine is one of the most elusive and frustrating compliance challenges for collection attorneys and their clients. What exactly must a collection attorney do to ensure they are “meaningfully involved” in a file before sending a collection letter to a consumer? When, if ever, should collection law firms include disclaimers on their collection letters, indicating that no attorney of the firm has reviewed the particular circums

Law Firms 40

Law Firms Debtor Creditors Collections 40

Consumer Financial Services Law

MAY 16, 2017

“The law has long treated unenforceability of a claim (due to the expiration of the limitations period) as an affirmative defense … And we see nothing misleading or deceptive in the filing of a proof of claim that, in effect, follows the Code’s similar system.” Midland Funding, LLC v. Johnson , (May 15, 2017). Yesterday, the Supreme Court reversed the Eleventh Circuit’s holding in Midland Funding v.

Bankruptcy 40

Bankruptcy Chapter 13 bankruptcy Creditors Debtor 40

Consumer Financial Services Law

MAY 15, 2017

As required by the Dodd-Frank Act, the CFPB is conducting an assessment of its RESPA Mortgage Servicing Final Rule, which took effect on January 10, 2014. The assessment will seek to compare servicer and consumer activities and outcomes to a baseline that would exist if the Rule has not been implemented. Specifically, the CFPB’s assessment plan will examine how well the Servicing Rule has met its purpose of: Providing borrowers with timely and understandable information; Protecting borrowers fro

Foreclosure 40

Foreclosure 40

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

Consumer Financial Services Law

MAY 12, 2017

A New York District Court recently tackled the intersection between bankruptcy and pre-petition FDCPA claims and the application of judicial estoppel to undisclosed claims. In December 2013, Jeziorowski filed a complaint alleging violations of the Fair Debt Collection Practices Act (FDCPA) and the Telephone Consumer Protection Act of 1991 (TCPA). Jeziorowski v.

Bankruptcy 40

Bankruptcy Debtor Fair Debt Collection Creditors 40

Consumer Financial Services Law

MAY 7, 2017

The CFPB’s most recent monthly report on consumer complaints spotlights student loans. The report is a high level snapshot of trends in consumer complaints. The Report provides a summary of the volume of complaints by product category, by company and by state. Complaint Volume by Product The three most complained of consumer products remain debt collection, credit reporting and mortgage.

Student loans 40

Student loans Student Loans Loans Collections 40