Sending Docs After the Validation Period Expires? One Court Says, No

Debt collectors have become accustomed to erring on the side of providing consumers with information regarding their debts, regardless of whether a dispute or verification request is timely. But should they? No, says a judge in the Western District of Missouri, who recently held that doing so may violate the Fair Debt Collection Practices Act (FDCPA).

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An Email is Less Intrusive Than a Phone Call, Finds N.D. Illinois While Granting TrueAccord’s Motion to Dismiss

A court victory by TrueAccord Corp. (TrueAccord) in the Northern District of Illinois continues to showcase the benefits of digital collection as the court found receiving an email about a debt is less intrusive to consumers than receiving a phone call. Messer Strickler Burnette represented TrueAccord and filed the briefing in the case.

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DFPI Adopts CRC's Proposed Language; Removes Personal Liability From Proposal

The California Department of Financial Protection and Innovation (DFPI) is listening to industry input as it finalizes its proposed complaints and inquiries regulation. Its most recent update (Third Proposal) included the adoption of language recommended by the Consumer Relations Consortium (CRC) to avoid creating personal liability for employees of covered entities.

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Utah’s H.B. 20 Signed into Law, Reducing Red Tape for Debt Collection Agencies

In a significant boost to the financial services industry, Utah has taken major steps to streamline its debt collection bureaucracy — including the removal of criminal penalties for failure to comply with technical requirements.

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In the Wake of the Demise of Silicon Valley Bank and Signature Bank: What Fintechs, Private Equity, and Banks Need To Know

On Friday, March 10, the California Department of Financial Protection and Innovation (DFPI) closed Silicon Valley Bank (SVB), the subsidiary of SVB Financial. The Federal Deposit Insurance Corporation (FDIC) was appointed the receiver of its over $250 billion in assets. This is the largest U.S. bank failure since the global financial crisis more than a decade ago.

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Iowa Becomes Sixth State to Enact Comprehensive Consumer Data Privacy Law

Iowa Gov. Kim Reynolds on March 28 signed into law SF 262, making Iowa the sixth state to enact comprehensive consumer data privacy legislation.  The other states are California, Virginia, Colorado, Utah, and Connecticut.  The law will take effect Jan. 1, 2025.

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Women in Consumer Finance 2023

11 December 2023 at 08:00 a.m.

Become a part of the industry's most dynamic and influential annual meet-up, where attendees build real friendships and re-energize careers, when you attend Women in Consumer Finance 2023, December 11-13, 2023 in Palm Springs, CA. 

Register Now!

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