August 15, 2016

FDIC Seeks to Supplement Vendor Management FIL with Third Party Lending Guidelines

As vendor management continues to be a key issue for regulators, the FDIC has issued its Proposed Guidelines for Third-Party Lending. The deadline to comment was originally September 12, 2016, and…

August 12, 2016

CFPB Summer Supervisory Highlights Report Reveals a Potpourri of Issues that Have Examiners Concerned

The CFPB published its Summer Supervisory Highlights last week, highlighting examinations that were conducted between January 2016 and April 2016 across various financial products.  The Report comes on the heels…

August 10, 2016

Professional TCPA Plaintiff Doesn’t Have Standing to Bring Claims

Professional plaintiffs may need to reconsider their business strategy in the wake of the Supreme Court’s decision in Spokeo, Inc. v. Robins, 136 S. Ct. 1540 (2016). In Stoops v.…

August 8, 2016

CFPB Employs “Mystery Shopper” Strategy in Fair Lending Investigation

The CFPB and the Department of Justice have partnered together to enter into a proposed consent order with BancorpSouth Bank regarding allegations the bank engaged in a practice of redlining…

July 25, 2016

CFPB Continues to Focus on Mortgage Servicing

The CFPB remains dissatisfied with the advancements the mortgage industry has achieved in the wake of the regulatory upheaval, as evidenced in the recently released special edition of its Supervisory…

June 29, 2016

NC Banks: Has The (Deficiency) Worm Turned?

Cases in the past year or two have made it harder and more time consuming to secure judgments on deficiencies. Given that deficiency judgments are rarely collectible, the extra efforts…

June 23, 2016

Furnisher Duties for Collection Agencies-Creating a Good Compliance Management System

Recent FTC consent orders, as well as the CFPB’s continued focus on credit reporting, serve as good reminders for collection agencies and creditors to carefully scrutinize their FCRA policies and…

June 22, 2016

Eleventh Circuit Expands Crawford Ruling

The Eleventh Circuit has made it clear: it will not back down from its decision in Crawford v. LVNV Funding, a decision it issued in 2014 and one which has…

June 17, 2016

CFPB Monthly Complaint Report Focuses on Credit Reporting

The CFPB issued its monthly report on consumer complaints, providing a high-level snapshot of recent trends in consumer complaints. The Report summarizes the volume of complaints by product category, company,…

June 16, 2016

CFPB Arbitration Rule: What You Need to Know

In May, the CFPB issued its much anticipated and much dreaded proposed arbitration rules. Quoting from the proposal, the CFPB recommends “rules that would prohibit mandatory arbitration clauses that deny…

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