Consumer Financial Services Law
DECEMBER 29, 2016
Editor’s Note: On November 3, 2016, Smith Debnam’s Jerry Myers attended a meeting with the CFPB to discuss the proposed rules for third party debt collection. Below, he shares his thoughts from the meeting. On Thursday November 3, 2016 I joined a group of colleagues for a meeting with the CFPB to discuss its proposed rules for third party debt collection.
Ks Law
DECEMBER 22, 2016
I have not heard from the credit card company I owe for a long time. Should I still file bankruptcy? Probably not, although you should make sure that you could file a bankruptcy promptly if the need arises. I spoke with a client earlier this week whose only significant debt is a single credit card. Unfortunately, the balance is so high that she would want to file bankruptcy if the creditor pursues her.
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Debt Collection Answers
DECEMBER 16, 2016
A Brilliant Way to Rebuild Bad Credit If You Have Collection Accounts
The McHughes Law Firm
DECEMBER 15, 2016
Professionally drafted legal documents can protect your small business from liability and ensure that you have the greatest shot at entrepreneurial success in Arkansas. If you plan to launch a successful business in Arkansas, you should begin by surrounding yourself with professionals who can lend their talents and lay a promising foundation for your venture.
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?
Debt Free Colorado
DECEMBER 7, 2016
Chapter 7 bankruptcy may seem intimidating, but as you can tell from the following infographic, the steps that go into successfully completing your case are pretty straightforward. For those of you who may not be able to view the image, the text follows: Chapter 7 Bankruptcy Timeline. Initial Consultation. Meet with an attorney to discuss your financial circumstances and options including debt settlement, repayment plans, Ch. 7 and Ch. 13 bankruptcy.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Indiana Consumer Law Group
NOVEMBER 26, 2016
PRESS RELEASE. Indiana Consumer Law Group/The Law Office of Robert E. Duff announces the recent filing of a lawsuit against Blatt, Hasenmiller, Liebsker & Moore, LLC, a debt collection law firm based in Chicago, Illinois. The lawsuit, which has been filed in the United States District Court for the Southern District of Indiana, alleges that Blatt, Hasenmiller, Liebsker & Moore filed a debt collection lawsuit against the Indiana consumer in the wrong county and thereby violated the Fair D
Recoverity
SEPTEMBER 14, 2016
A Proven Process for Debt Recovery. With Summit AR’s “P.H.D. Philosophy” (Preserve Human Dignity), you’ll find no automated “robo-dialers” that leave multiple, irritating messages for debtors and do nothing to resolve the account. In a sea of large, faceless consumer and commercial collection agencies, ours specializes in treating people right and following all the rules—and we selectively choose clients who share these same values.
The Creditors Rights
SEPTEMBER 13, 2016
In an important decision for debtors and creditors alike, the United States Bankruptcy Court for the District of Delaware has ruled that provisions in a limited liability company operating agreement, granting the company’s lender absolute power to prevent the company from filing a bankruptcy petition are unenforceable as against public policy. In re: Intervention Energy Holdings, LLC , 2016 WL 3185576 (Bankr.
FDCPA Defense
AUGUST 22, 2016
When collectors get sued in an FDCPA action, they face a steep uphill battle. Courts apply the very pro-consumer “least sophisticated debtor” standard when evaluating a collector’s communications, and most violations of the Act are “strict liability” – meaning the debtor can win the case without proving the collector intended to violate the statute.
Speaker: Melissa Hurrington
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
Consumer Financial Services Law
DECEMBER 21, 2016
Courts have long debated the extent to which a debt collection attorney’s representations to opposing counsel or the court during the course of litigation may violate the FDCPA and the results from different circuits have varied greatly. See, e.g., Hemmingsen v. Messerli & Kramer, 674 F.3d 814 (8 th Cir. 2012); O’Rourke v. Palisades Acquisition XVI, LLC, 635 F. 3d 938 (7 th Cir. 2011); Miller v.
Consumer Financial Services Law
DECEMBER 19, 2016
A recent blog post from the CFPB indicates it will focus its Fair Lending efforts in three directions in 2017. According to the post, the CFPB will increase its focus on: (a) redlining; (b) mortgage and student loan servicing; and (c) small business lending. Redlining. The Bureau’s has shown a renewed interest in redlining claims in the past two years.
Consumer Financial Services Law
DECEMBER 17, 2016
Roughly eighteen months ago, the CFPB introduced its Monthly Complaint Reports which provide monthly summaries of complaints received in the complaint portal against financial service providers regarding a number of financial service products. Each month, the CFPB issues a report summarizing the information. This week, the CFPB introduced a new research tool, its Consumer Credit Trend Tool.
Consumer Financial Services Law
DECEMBER 15, 2016
A district court in Illinois has slammed the door on an attempt to moot a class action by coupling an offer of judgment with a motion under Rule 67 to deposit funds with the court. In Wendell H. Stone Co. v. Metal Partners Rebar, LLC, the plaintiff filed a putative class action seeking damages for violations of the Junk Fax Prevention Act. Wendell H.
Speaker: Susan Richards
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
Consumer Financial Services Law
DECEMBER 13, 2016
A recent series of CFPB consent orders should remind the mortgage industry to carefully monitor its advertising practices. The MAP Rule prohibits deceptive and misleading commercial communications regarding any term of any mortgage credit product. 12 CFR Part 1014. The three orders, which were entered into with reverse mortgage companies, include almost $800,000 in civil penalties and remediation.
Consumer Financial Services Law
DECEMBER 12, 2016
Creditors and debt collectors who utilize pre-collect practices should pay close attention to a recent opinion from the Eastern District of Michigan. In Parker Burns v. Ross Stuart & Dawson, Inc., 2016 U.S. Dist. LEXIS 165587 (E.D. Mich. Dec. 1, 2016), the collection agency agreed to provide the creditor with demand letter services which involved a series of three letters per debt account.
Consumer Financial Services Law
DECEMBER 7, 2016
The CFPB published its Fall 2016 Rulemaking Agenda last week. The Agenda, which is a federal requirement, was issued in the “early fall” and therefore does not take into account the effect the election may have on the CFPB or its current configuration. While the Agenda is worth monitoring and provides insight into the CFPB’s hot button issues, there is no certainty as to what the next six months will hold.
Consumer Financial Services Law
NOVEMBER 30, 2016
In the wake of the Wells Fargo debacle, the CFPB has issued a Compliance Bulletin which addresses employee incentives and the consumer risks associated with them. CFPB Compliance Bulletins are non-binding general statements of CFPB policy. The Bulletin notes that while businesses and consumers alike may benefit from the use of incentives when properly implemented and monitored, incentives may also lead to significant consumer harm when effective controls for risk are not in place.
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.
Consumer Financial Services Law
NOVEMBER 28, 2016
A recent decision out of the Northern District of Georgia serves as a reminder to both consumers and furnishers of information as to the furnisher’s obligation to reasonably investigate a dispute under the federal Fair Credit Reporting Act. In Taylor v. Georgia Power Company, the consumer disputed the power company’s reporting of her account as delinquent with the consumer reporting agencies (“CRA”).
Consumer Financial Services Law
NOVEMBER 23, 2016
The FCC recently denied a petition by the Mortgage Bankers Association which requested a limited exemption from the prior express consent provision of the TCPA for mortgage servicing calls. In doing so, the FCC shown a bright spotlight on the difficulties faced by the financial service industry in complying with a series of consumer protection statutes which are either outdated or present a natural conflict with each other.
Consumer Financial Services Law
NOVEMBER 16, 2016
A New York district court recently dismissed an FDCPA putative class action attempting to penalize a collection agency for disclosing the FDCPA’s cease and desist requirements to a consumer. Illobre v. Fin. Recovery Servs., 2016 U.S. Dist. LEXIS 153525, 16 CV 452 (S.D.N.Y. Nov. 3, 2016). The demand letter in question accurately provided the consumer with its Validation Notice under 15 U.S.C. §1692g(a) on the front of the letter.
Consumer Financial Services Law
NOVEMBER 14, 2016
The CFPB’s Fall Supervisory Highlights contains a mixed bag for debt collectors. As you may recall, the Report highlights examinations that were conducted between May and August 2016 and provides a high level summary of the key findings made by the CFPB and the current emphasis of examiners. Debt collection appears to be back as a point of emphasis for examiners.
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Consumer Financial Services Law
NOVEMBER 12, 2016
Auto loan servicers need to pay careful attention to their repossession practices and particularly, their policies concerning repossession fees. The clear message from the CFPB’s Supervisory Highlights is that examiners are focused on repossession activities, “including whether property is being improperly withheld from consumers, what fees are charged, how they are charged, and the context of how consumers are being treated to determine whether the practices are lawful.
Consumer Financial Services Law
NOVEMBER 11, 2016
The CFPB published its Fall Supervisory Highlights last week, highlighting its examination observations across various financial products for examinations conducted between May and August 2016. The Report highlights key findings made by the CFPB and provides insight into the current focus of the examiners. The current edition of Highlights reveals a heavy focus on compliance management systems across product types.
The McHughes Law Firm
NOVEMBER 2, 2016
A professionally drafted last will and testament is essential if you want your final wishes to be followed to the letter. Finding an experienced attorney who understands Arkansas estate planning laws and regulations is the first step toward deciding how you will be remembered. It is invaluable to have an experienced last will and testament attorney at your side when it comes time to decide how your possessions and assets will be distributed after you pass away.
Debt Free Colorado
NOVEMBER 2, 2016
How Does a Bankruptcy Affect my Credit Score? If you’ve been doing a great job making payments on your debts, bankruptcy will have a significant impact on your credit score in the short term. However, by the time you start thinking seriously about bankruptcy you’ve probably either started missing payments or are on the verge of doing so.
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
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