CFPB Examiner Chief Warned Staff of ‘Most Unpleasant’ Fallout for Aggressive Oversight
- An internal email obtained by Reuters reveals what the CFPB’s own chief examiner is telling supervision staff as exams restart — and the warning wasn’t about protecting consumers. Who exactly would deliver the “most unpleasant” consequences she referenced? She wouldn’t say. A former bureau insider says the message will land one way with examiners: ask the wrong question, risk your job.
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Student Loan Settlement Balloons to $23B After Court Rejects Extension Request
- The largest class-action settlement in American history just got bigger. A Ninth Circuit panel refused to give the Education Department more time to review borrower defense claims, triggering automatic discharges for up to 200,000 more borrowers — with tradeline deletions, refunds, and collection bars that ripple straight through the receivables ecosystem. The average balance being wiped out may surprise you.
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Servicemember FDCPA Bill Is Back, This Time With a Republican Co-Sponsor
- Industry veterans have seen this bill before — a prior version passed the House 355-0 and still went nowhere. But the latest reintroduction comes with something its predecessors lacked, and compliance teams should note the definition of “covered member,” which reaches well beyond active duty personnel and includes a one-year lookback that could complicate account-level screening.
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Judge Tosses FCRA Case for Lack of Standing, Warns Pro Se Plaintiff About Hallucinated Cases
- A charged-off credit card, a dispute, a lawsuit — and a dismissal that checks every standing box defendants love to see. But the real headline is buried in a footnote: two of the plaintiff’s cited cases don’t appear to exist anywhere, and the judge has a theory about where they came from. He let it slide this time. His warning about next time is worth reading verbatim.
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Judge Dismisses Second FDCPA Suit From Same Plaintiff Over Collection Lawsuit, Holds Off on Sanctions
- Same plaintiff, same defendant, same theory, same result. A New Jersey judge dismissed an FDCPA suit built on a “void debt” licensing argument — the plaintiff’s second such loss this year — but the more interesting question was whether her counsel would pay for it. The defendant asked for sanctions after a warning letter went ignored. See how close the judge came to saying yes.
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State Appeals Court Sends Auto Finance Collection Suit to Arbitration
- Can a consumer agree to let a bank hold his truck during litigation and still demand arbitration? A Texas appeals court says yes — and its reasoning on what does and doesn’t waive arbitration rights (hint: even two-year delays haven’t been enough) is a useful roadmap for anyone drafting or enforcing arbitration clauses in auto finance contracts. The bank, notably, didn’t even file a brief on appeal.
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42 Companies Seeking Collection Talent
- From entry-level collector seats to a VP of Collections, an SVP of Litigation, and a Head of Collections and Recovery Strategy, this week’s roundup spans 42 companies hiring across operations, legal, compliance, and technology — including remote and hybrid roles. Whether you’re looking to make a move or benchmarking the talent market, the full list is one click away.
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WORTH NOTING: How rising grocery prices and squeezed budgets are impacting Americans’ eating habits … Why some people are better at mowing lawns than others … Yesterday’s primaries gave everyone something to be happy about … How a lot of NFL executives rank 35 NFL quarterbacks … A look at which colleges prepare students for long-term success, according to LinkedIn … Why emotional resiliences is becoming a more important job skill … A look at which animals are the deadliest in each state … A deep dive on why we blush and how to resist it.
Wisdom Wednesday, part I
Wisdom Wednesday, part II
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