Judge Dismisses FDCPA Class Action
- A District Court judge in Pennsylvania has dismissed a certified Fair Debt Collection Practices Act class-action, ruling the plaintiffs did not have standing after alleging the defendants misrepresented the balance that was owed when filing a proof-of-claim related to the plaintiff’s bankruptcy.
- More details here
Battle Brews Over CFPB’s Future as Congress Targets Agency’s Funding
- Congress isn’t waiting to see whether the Consumer Financial Protection Bureau will be allowed to fire most of its employees. A battle is underway over whether the agency will be able to afford to operate at all. Senate Republicans unveiled legislative text as part of their broader tax and spending package, and the proposal would eliminate the CFPB’s ability to receive funding from the Federal Reserve, which is the agency’s primary funding source, and instead require it to rely on annual appropriations from Congress.
- More details here
GAO Report Flags Gaps in AI Oversight as Regulators Ramp Up Use in Financial Supervision
- Congress and regulators are eyeing both the promise and the pitfalls of artificial intelligence, with a new Government Accountability Office (GAO) report showing how deeply AI has penetrated the industry and how uneven the oversight remains.
- More details here
Compliance Digest – June 9
- Insights from six experts — David Schultz, Jenna Williams, Loraine Lyons, Chuck Dodge, Jessica Klander, and Brooke Conkle — on new cases related to the FDCPA and FCRA and a new debt collection law in Illinois highlight this week’s Compliance Digest.
- More details here
- This series is sponsored by Bedard Law Group
WORTH NOTING: How much the average American would pay for a day of peace and quiet was a lot higher than I would have guessed … A handful of simple and cheap things to help your home use less energy … The best songs of 2025 so far … A personal finance expert debunks social media myths about savings … Simple tests to help you gauge how well you are aging … What you need to know about the passing of the penny … Three things new graduates and young workers should know as artificial intelligence becomes more advanced … The salary that a single person needs to make to live comfortably in all 50 states.
Music Monday, part I
Music Monday, part II
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