Collector Facing FDCPA Class Action for Not Providing 30 Day Dispute Window in MVN
- If you’re going to use the Model Validation Notice and inform a consumer that he or she has 30 days in which to dispute the validity of all or part of a debt, and you’re going to put a date on the notice, then you probably better make sure that the deadline you put in that notice is at least 30 days after the day the notice is dated. A collection law firm is facing a Fair Debt Collection Practices Act class-action lawsuit because the notice told the plaintiff that it had only 10 days to dispute the validity of the debt.
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Judge Grants MTD in FCRA Case Over Not-Disputed Debt
- In order to accuse someone of violating the Fair Credit Reporting Act for reporting inaccurate information to a credit reporting agency, there is one important step that has to happen before filing the lawsuit: the consumer has to dispute the debt. A District Court judge in Louisiana has granted a defendant’s motion to dismiss an amended complaint in an FCRA case because the plaintiff failed to meet this crucial requirement.
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French Hill Tapped as Next Chair of House Financial Services Committee
- The House Financial Services Committee, one of the most influential committees in Congress, will soon have a new leader. Rep. French Hill [R-Ark.], a former banker with a strong background in financial technology and regulatory reform, has been selected by the House Republican Steering Committee to chair the committee in the upcoming Congress.
- More details here
CFPB Issues Final Rule Capping Overdraft Fees
- The Consumer Financial Protection Bureau yesterday issued a final rule to cap overdraft fees, which was quickly followed by a lawsuit seeking to block the rule from going into effect. The regulation, effective October 1, 2025, aims to save consumers $5 billion annually and eliminate a regulatory loophole from the 1960s that allowed overdraft services to operate outside of lending laws.
- More details here
WORTH NOTING: A quiz to test how much you remember about 2024 … The word list for the National Spelling Bee is drawing some criticisms … RIP to the Amazing Kreskin … Nearly half of all teenagers are online “constantly” according to a new research report … The best cities in which to spend New Year’s Eve … Hard to argue with this list of the five best Quentin Tarantino movies … What you should do if you suspect your coworker is trying to sabotage you … Ranking all 35 college bowl games from worst to first.
Funny Friday, part I
Funny Friday, part II
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