ROSEVILLE, Minn -- Frontline Asset Strategies recognizes that it has a presence in its offices and its communities. Frontline actively supports local charities and participates in events that create positive change in their neighborhoods, cities, and the global community around them. This year, as Frontline does every year, they donated to our favorite charitable organization—Marine Toys for Tots.
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Recently, in Velez v. Absolute Resolutions Investments., LLC, the district court for the Northern District of Illinois confirmed the long-standing principle that not all communications sent from a debt collector to a debtor are governed by the Fair Debt Collection Practices Act (FDCPA). Instead, the communications must be in connection with the collection of a debt to fall within the statute’s purview.
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The CFPB has issued a proposed rule to establish a system for the registration of nonbanks subject to CFPB supervision that use “certain terms or conditions that seek to waive consumer rights or other legal protections or limit the ability of consumers to enforce their rights.” Arbitration provisions are among the terms that would trigger registration. The CFPB did not issue an Advance Notice of Proposed Rulemaking to seek public input before issuing the proposal. Comments on the proposal must be filed by March 13, 2023 or 30 days after the date it is published in the Federal Register, whichever is later.
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