I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H. Bedard, Jr., or call (678) 253-1871.
Every week, AccountsRecovery.net brings you the most important news in the industry. But, with compliance-related articles, context is king. That’s why the brightest and most knowledgable compliance experts are sought to offer their perspectives and insights into the most important news of the day. Read on to hear what the experts have to say this week.
CFPB Rescinds Nonbank Registry Rule, Citing High Costs and Minimal Benefits
The Consumer Financial Protection Bureau has officially rescinded its Nonbank Registry Rule, reversing a Biden-era initiative that required nonbank financial firms to report enforcement orders into a public CFPB database. The rollback, announced this week in the Federal Register, eliminates reporting and attestation obligations for thousands of lenders, servicers, and fintechs. More details here.
WHAT THIS MEANS, FROM STACY RODRIGUEZ OF ACTUATE LAW:
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Judge Dismisses FDCPA Suit After Collector’s Only Act Was Answering the Phone
Sometimes, just answering the phone is enough to get you sued. But, thankfully, a District Court judge in Louisiana has granted a collection law firm’s motion to dismiss claims it violated the Fair Debt Collection Practices Act. More details here.
WHAT THIS MEANS, FROM NICK PROLA OF BASSFORD REMELE
TCPA Claim Dismissed as Court Draws Line Between Calls and Texts
A District Court judge in Florida has granted a defendant’s motion to dismiss claims it violated the Telephone Consumer Protection Act, ruling that text messages are not phone calls. More details here.
WHAT THIS MEANS, FROM ANASTASIA CATON OF HUDSON COOK:
FCC Advances Major Caller ID Overhaul to Boost Trust, Curb Robocalls
The Federal Communications Commission voted unanimously this week to adopt the “Improving Verification and Presentation of Caller Identification Information Further Notice of Proposed Rulemaking,” a sweeping proposal aimed at giving consumers more verified information about who’s calling and cutting down on illegal and spoofed robocalls. More details here.
WHAT THIS MEANS, FROM XERXES MARTIN OF MARTIN GOLDEN LYONS WATTS MORGAN:
Ninth Circuit Upholds Use of Bona Fide Error Defense in FDCPA Case
The Court of Appeals for the Ninth Circuit has affirmed a lower court’s ruling in favor of a defendant that was sued for violating the Fair Debt Collection Practices Act, agreeing with the lower court that the defendant’s actions entitle it to use the statute’s bona fide error defense. More details here.
WHAT THIS MEANS, FROM BRIT SUTTELL OF BARRON & NEWBURGER:
CFPB Reasserts Federal Preemption of State Credit Reporting Laws
The Consumer Financial Protection Bureau formally confirmed yesterday that the Fair Credit Reporting Act broadly preempts state laws governing large areas of credit reporting, replacing a 2022 interpretive rule that the agency now calls flawed and confusing. More details here.
WHAT THIS MEANS, FROM JOHN MAREES OF MESSER STRICKLER:
Judge Grants MTD After Plaintiff Demands ‘Pure Gold’ for Violations
A District Court judge in Maryland has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case involving what appears to be a sovereign citizen — the plaintiff sought pure gold as payment for any violation — ruling that the plaintiff’s “subjective ignorance” of the debt is not an indication that the defendant did anything wrong. More details here.
WHAT THIS MEANS, FROM BRENDAN LITTLE OF LIPPES MATHIAS:
Appeals Court Finds No Civil Contempt in Post-Bankruptcy Collection Dispute
The Court of Appeals for the Eleventh Circuit has upheld rulings from both a District Court and a Bankruptcy Court that denied to hold a defendant in civil contempt for violating a discharge order when attempting to collect on a mortgage debt. More details here.
WHAT THIS MEANS, FROM JUSTIN PENN OF HINSHAW CULBERTSON:
Judge Denies MTD in FDCPA Case Over ‘Forceful’ Repossession Encounter
A reminder first about motions to dismiss and judges needing to accept that everything a plaintiff says in a complaint is true. With that in mind, a District Court judge in Michigan has denied a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling that a repossession agent breached the peace when attempting to recover the plaintiff’s vehicle by moving “forcefully” toward the plaintiff, who had placed himself between the tow truck and his vehicle. More details here.
WHAT THIS MEANS, FROM MIKE FROST OF FROST ECHOLS:
Judge Halts CFPB’s Open Banking Rule Amid Ongoing Rewrite
A federal judge has issued a preliminary injunction halting enforcement of the Consumer Financial Protection Bureau’s Personal Financial Data Rights Rule — a key component of the agency’s open banking framework — until the CFPB completes its reconsideration and revision of the rule. The ruling delivers a major win to banking trade groups and leaves the future of open banking hanging in the balance. More details here.
WHAT THIS MEANS, FROM BROOKE CONKLE OF TROUTMAN PEPPER LOCKE:
I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H. Bedard, Jr., or call (678) 253-1871.
