CFPB Agrees to Pay $6M to Settle Discrimination Claims by Black and Hispanic Employees

After nearly a decade of litigation, Judge Beryl A. Howell of the U.S. District Court for the District of Columbia has approved the Consumer Financial Protection Bureau’s $6.0 million settlement of class claims of alleged discrimination by the CFPB against 85 Black and Hispanic employees. The class consists of all “minority employees and women who work or worked as Consumer Response Specialists and have been subjected to and harmed by the Bureau’s agency-wide pattern or practice of discrimination and retaliation and discriminatory policies and practices,” according to the complaint. The settlement fund will be distributed to the 85 class members. In addition to the $6.0 million settlement fund, the settlement provides for an award of $1.5 million in attorney’s fees for class counsel.

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New Jersey Enacts Comprehensive Consumer Data Privacy Law

New Jersey Gov. Phil Murphy on Jan. 16 signed into law Senate Bill 332, making New Jersey the 13th state to enact a comprehensive consumer data privacy law, following California, Virginia, Colorado, Utah, Connecticut, Iowa, Indiana, Tennessee, Montana, Texas, Oregon, and Delaware.  The law will go into effect Jan. 16, 2025.

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National Creditors Bar Association Foundation Receives $50,000 Pledge from Barron & Newburger Foundation

WASHINGTON, D.C. -- The National Creditors Bar Association (NCBA) today announced that Barron & Newburger, P.C. will sponsor an annual Scholarship, pledging $50,000 over five years to the NCBA Foundation. Funds will support a $10,000 per year college scholarship. Application forms can be found at creditorsbar.org/scholarship.

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CFPB Bites of the Month - January 2024 - A Hazy Shade of Winter With the CFPB

January 2024 was another busy month for the CFPB. In this article, we'll share some of our top CFPB "bites" of the month so you can stay on top of recent developments.

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DebtNext Software Receives SOC 2 Type II Attestation

COPLEY, OH -- DebtNext Software, a Recovery Management and Operations Solution Provider, today announced that it has completed its SOC 2 Type II audit, performed by KirkpatrickPrice. This attestation provides evidence that DebtNext Software has a strong commitment to security and to delivering high-quality services to its clients by demonstrating that they have the necessary internal controls and processes in place.

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CFPB Continues Focus on Consumer Reporting and the FCRA With New “Guidance” on Background Checks and Consumer Disclosures

On January 11, the Consumer Financial Protection Bureau (CFPB or Bureau) issued two “advisory opinions” addressing the CFPB’s views of the obligations of consumer reporting agencies (CRAs) under the Fair Credit Reporting Act (FCRA). The advisory opinions are interpretive rules issued under the Bureau’s authority to interpret the FCRA pursuant to § 1022(b)(1) of the Consumer Financial Protection Act of 2010.

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