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Consumer Financial Protection Bureau Puts Creditors on Notice of Rulemaking Under the Fair Debt Collection Practices Act

On November 11, 2013 by Schnader in Finance

By Edward J. Sholinsky Last week, the Consumer Financial Protection Bureau issued a news release and Advance Notice of Proposed Rulemaking that signals the Bureau’s intention to broadly exercise its claimed power under the Fair Debt Collection Practices Act to regulate creditors and debt collectors.  Most notably, the Bureau is claiming […]

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Employers Should Proceed with Caution in Using Payroll Cards

On September 25, 2013 by Schnader in Labor and Employment

By Scott J. Wenner On September 12,2013, the Consumer Financial Protection Bureau (CFPB) published CFPB Bulletin 2013-10. The stated purpose of this publication was “to reiterate the application of the Electronic Fund Transfer Act (EFTA) and Regulation E, which implements the EFTA, to payroll card accounts. “ However, the agency’s press […]

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The CFPB Offers Guidance to Companies that Furnish Information to Consumer Reporting Agencies

On September 11, 2013 by Schnader in Finance

By Edward J. Sholinsky On September 4, 2013 the Consumer Financial Protection Bureau issued Bulletin 2013-09, which addresses the obligation of “furnishers” under the Fair Credit Reporting Act (FCRA) to investigate disputed information in a consumer’s credit report. When, under FCRA, a consumer disputes adverse information on his or her credit […]

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