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Posts about the Consumer Financial Protection Bureau.


Executive Change: CFPB Enforcement Attorney Appointed Affirm Chief Compliance Officer

Affirm today announced it has hired Consumer Financial Protection Bureau Enforcement Attorney Manuel (Manny) Alvarez as its first chief compliance officer and general counsel. The appointment coincides with Affirm naming investment partners Keith Rabois, from Khosla Ventures, and Jeremy Liew, from Lightspeed Ventures, to the new financial services technology company’s board of directors. Affirm was […]


CFPB Debuts Slightly Clunky Portal for Debt Settlement Complaints

The Consumer Financial Protection Bureau announced Monday that it will accept consumer complaints about additional non-bank products such as debt settlement services. The CFPB has been receiving consumer complaints about debt collection since November 2013. It’s not as easy to submit a complaint about a debt settlement service, or any other non-bank service, as it […]


Happy Fourth Birthday, CFPB!

On July 21, the Consumer Financial Protection Bureau will mark its fourth anniversary. The consumer financial watchdog, created by Congress in the during the financial crisis, has done a lot for consumers in just a few years, having tackled important issues such as consumer complaints, payday lending, student loans and – of course – debt collection.


CFPB Takes Direct Aim at Policing Legal Profession

On July 14, 2014, the Consumer Financial Protection Bureau (“CFPB”), a Federal regulatory body created by the Dodd Frank Act of 2010 mounted a frontal attack on this bedrock of separation of powers principle by filing suit in the United States District Court against a prominent consumer collection law firm, Frederick J. Hanna and Associates, P.C. of Atlanta Georgia.


Compliance Experts Urge Collectors to Embrace a Holistic CMS

Historically, collection agencies have viewed compliance as a reactionary, standalone department. Now, there’s an active shift to view compliance as a proactive process that requires full participation and collaboration across all agency branches. Because of this, a collection agency’s compliance management system is not a product. It’s a mindset. What now? As Rozanne Andersen, Chief […]


The Changing Face of the Collection Industry in Light of New Regulations

We’ve all seen the headlines lately with the statistics of lawsuits rising against collection agencies, of penalties handed down by the CFPB and the courts, of settlements against collection agencies and even speculation that the business of debt collection is going the way of the dinosaur. But is the business of collections really going away, or is it just going through another change?