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Posts about the Consumer Financial Protection Bureau.

Caution Flag

Another Reason For Collectors To Be Cautious When Calling Consumer Cell Phones

Given the data that must be weighed by a creditor or debt collector in determining where a consumer resides – the area code of the number called, the zip code of the residence of record, any statements by the consumer about his or her place of residence – it is certain that the Discover Consent Order will be the start of yet another flood of consumer lawsuits against the collection industry regarding the calling of consumer cell phones.

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Executive Change: CFPB Announces Acting Associate Director for Supervision, Enforcement and Fair Lending

The Consumer Financial Protection Bureau (CFPB) recently announced the impending departure of Deputy Director Steve Antonakes to spend more time with family. Antonakes has also been serving as the Associate Director for the Division of Supervision, Enforcement, and Fair Lending. Yesterday the Bureau announced that Meredith Fuchs will now serve as Acting Deputy Director. Ms. Fuchs […]

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2nd CFPB Enforcement Action This Week Involving Debt Collection, Now Against Discover Bank

On the heels of yesterday’s enforcement action against Citibank and its subsidiary Department Stores National Bank, today the CFPB took action against Discover Bank and its affiliates for illegal private student loan servicing practices. The company also engaged in illegal debt collection tactics, including calling consumers early in the morning and late at night.

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CFPB Director Cordray Testifies Before Senate Banking Committee; Session Was Mostly Partisan Posturing

Consumer Financial Protection Bureau (CFPB) Director Richard Cordray testified before the Republican controlled Senate Banking Committee yesterday. The purpose of the hearing was ostensibly to discuss the Bureau’s 7th semi-annual report. insideARM (summarized that report on June 18th.) Committee Chairman Richard Shelby (R-AL) opening remarks highlighted the Republican concern over the CFPB’s lack of accountability […]

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Federal Court Paves Way For CFPB To Pursue Enforcement Action Against Hanna

[Editor’s note: Yesterday insideARM reported that the judge in the case of CFPB v. Hanna issued an order denying the defendant’s motion to dismiss. The order, released yesterday, is 70 pages. Today, as promised, we begin to provide analysis of that order. This is one of two articles – by two different attorneys – offering their view. […]