CFPB Monitor News Guidance Perspectives of CFPB | Ballard Spahr Law Firm Blog

Tag Archives: CFPB

Lawmakers take sides on Director Cordray’s future; Senator Warren urges consumer advocates to defend CFPB

Posted in CFPB General

Battle lines over Director Cordray’s future at the CFPB are predictably forming along party lines.  Earlier this week, two Republican senators sent a letter to Vice President-elect Pence urging Director Cordray’s removal by President-elect Trump.  Also earlier this week, a group of 21 Democratic members of the House Financial Services Committee, including ranking member Maxine… More >

CFPB’s national debt collection consumer survey findings lays groundwork for future enforcement and rulemaking priorities

Posted in Debt Collection

Early this morning, the CFPB released the findings of its national debt collection consumer survey.  Both the headline of the CFPB’s press release and Director Cordray’s remarks highlight the survey’s finding that “over one-in-four consumers contacted by debt collectors feel threatened” during the collections process.  The press release also highlights likely areas of on-going CFPB… More >

CFPB settles FDCPA claims against debt collection law firms

Posted in CFPB Enforcement, Debt Collection

The CFPB announced that it has entered into a consent order with two law firms specializing in the collection of medical debts and their president for alleged FDCPA violations.  The consent order also settles allegations that the respondents violated Regulation V (which implements the Fair Credit Reporting Act).  The consent order requires the respondents to… More >

House passes proposed Congressional Review Act amendments authorizing en bloc consideration in resolutions of disapproval for “midnight rules”

Posted in CFPB Rulemaking

We have previously written about the Congressional Review Act (“CRA”), a law enacted in 1996 that establishes a procedure by which Congress can nullify a covered rule adopted by a federal agency.  According to a Congressional Research Service (“CRS”) memorandum dated January 3, 2017, the CRA “was largely intended to assert control over agency rulemaking by… More >

Trump transition team releases names of additional CFPB landing team members

Posted in CFPB General

The Trump transition team has released the names of three more individuals who will be members of the CFPB landing team.  “Landing teams” are members of the incoming president’s transition team tasked with gathering information about their assigned agency. We previously reported that Paul Atkins would be on the landing team for the CFPB as… More >

CFPB issues fourth report to appropriations committees

Posted in CFPB General

The CFPB has issued its fourth report entitled “Report of the Consumer Financial Protection Bureau Pursuant to Section 1017(e)(4) of the Dodd-Frank Act.”  That Dodd-Frank section requires the CFPB’s Director to submit an annual report to the House and Senate Committees on Appropriations “regarding the financial operating plans and forecasts of the Director, the financial… More >

Tenth Circuit ruling on constitutionality of SEC administrative judges: implications for CFPB

Posted in CFPB Enforcement

Just before year-end, the U.S. Court of Appeals for the Tenth Circuit, in Bandimere v. United States Securities and Exchange Commission, set aside an SEC decision finding the petitioner liable for violating various securities law on the grounds that the SEC’s administrative law judge (ALJ)  who conducted the proceeding was unconstitutionally appointed.  The Tenth Circuit held… More >

CFPB announces senior leadership changes

Posted in CFPB People

The CFPB announced that the following individuals are joining its senior leadership team: Leandra English is returning to the CFPB to serve as the Chief of Staff.  Ms. English previously served in several senior CFPB leadership roles, including deputy chief operating officer, acting chief of staff, deputy chief of staff, and deputy associate director of… More >

State AGs seek to intervene in CFPB enforcement action to modify settlement terms

Posted in CFPB Enforcement, State Enforcement

The Attorneys General for the states of Connecticut, Indiana, Kansas, and Vermont recently took the unusual step of filing a joint motion to intervene to modify the settlement terms of a CFPB enforcement action. The motion was filed in the CFPB’s action filed in a New York federal district court in December 2014 against Sprint… More >

CFPB releases annual employee survey results, 2016-2020 Diversity and Inclusion Strategic Plan

Posted in Diversity and Inclusion

The CFPB released two items at year-end:  the results of its 2016 annual employee survey and its updated Diversity and Inclusion Strategic Plan (Strategic Plan) for 2016-2020. Survey.  Of the 1,567 CFPB employees surveyed, 1,372 (almost 87.6%) responded to the 2016 survey.  We were pleased to see that the survey results appear to show that… More >

CFPB seeks new members for Academic Research Council

Posted in CFPB General

The CFPB has published a notice in the Federal Register announcing that it is seeking applications from persons interested in becoming members of its Academic Research Council (ARC). Appointments to the ARC are typically for four years. The CFPB seeks “tenured academics with a world class research and publishing background, and a record of public… More >

CFPB files SCOTUS amicus brief in FDCPA case on filing bankruptcy proof of claim on time-barred debt

Posted in Debt Collection

The CFPB has filed an amicus brief in the U.S. Supreme Court in support of the respondent/consumer in Midland Funding, LLC v. Aleida Johnson, a decision of the Eleventh Circuit that held Midland’s alleged filing of an accurate proof of claim in the consumer’s bankruptcy case on a time-barred debt violated the FDCPA. In its… More >

PHH replies to CFPB’s opposition to PHH’s motion for leave to file supplemental response

Posted in CFPB Enforcement, Mortgages

PHH has filed a reply to the CFPB’s opposition to PHH’s motion for leave to file a supplemental response to the CFPB’s petition for rehearing en banc.  On December 22, PHH and the United States filed responses to the CFPB’s petition with the D.C. Circuit.  The D.C. Circuit had invited the Solicitor General to file… More >

CFPB opposes PHH’s motion for leave to file supplemental response to petition for rehearing en banc

Posted in CFPB Enforcement, Mortgages

The CFPB has opposed the motion filed by PHH for leave to file a supplemental response to the CFPB’s petition for rehearing en banc.  On December 22, PHH and the United States filed responses to the CFPB’s petition with the D.C. Circuit.  The D.C. Circuit had invited the Solicitor General to file a response expressing… More >

CFPB December 2016 complaint report highlights debt collection complaints, complaints from Arizona consumers

Posted in Debt Collection

The CFPB has issued its December 2016 complaint report which highlights complaints about debt collection.  The report also highlights complaints from consumers in Arizona and the Phoenix metro area. General findings include the following: As of December 1, 2016, the CFPB handled approximately 1,058,100 complaints nationally, including approximately 23,100 complaints in November 2016. Debt collection… More >

CFPB seeking new members for advisory groups

Posted in CFPB General

The CFPB has published a notice in the Federal Register announcing that it is seeking applications from persons interested in becoming members of its Consumer Advisory Board (Board), Community Bank Advisory Council (CBAC), or Credit Union Advisory Council (CUAC).  Appointments to the Board are typically for three years and appointments to the CBAC and CUAC… More >

PHH and United States respond to CFPB’s petition for rehearing en banc; PHH seeks leave to file supplemental response

Posted in CFPB Enforcement, Mortgages

PHH and the United States have filed responses with the D.C. Circuit to the CFPB’s petition for rehearing en banc.  The D.C. Circuit invited the Solicitor General to file a response expressing the views of the United States and entered an order requiring both PHH and the SG to file their responses by December 22…. More >

Civil rights groups voice support for Director Cordray

Posted in Fair Lending

Earlier this week, we blogged about reports that Director Cordray has no plans to leave the CFPB before his term expires in July 2018.  Yesterday, several national civil rights groups issued a joint statement applauding the CFPB’s work and expressing support for Director Cordray “as he continues to lead the CFPB in the fourth year… More >