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CFPB Issues Bulletin to Warn Student Loan Servicers Who Ignore Bankruptcy Court Orders
On March 16, 2023, the Consumer Financial Protection Bureau (CFPB) issued a bulletin cautioning loan servicers about their responsibility to stop any illegal activity related
CFPB Announces Inquiry into Data Brokers: Seeking Public Input on Business Practices
On March 15, 2023, the Consumer Financial Protection Bureau (CFPB) announced an inquiry into companies that gather and track information about people’s personal lives. The
California’s DFPI Cracks Down on Student Debt Relief Companies
Recent Consent Order Issued by the DFPI Against Student Loan Relief Company On February 28, 2023, the California Department of Financial Protection and Innovation (DFPI) announced that
New Jersey Legislation to Regulate Virtual Currencies Likely To Become Law
New Jersey is positioned to adopt seminal legislation that is sure to alter the regulatory dynamic for cryptocurrency-focused businesses that operate within the state. The
FTC Sues Stratics and Debt Relief Companies That Hired Robocallers
The Federal Trade Commission (FTC) is taking action against Stratics Networks, a company that allegedly provided the technology for telemarketers to make tens of millions
FCC Amends TCPA Rules Effective July 20, 2023
On January 23, 2023, the Federal Communications Commission (FCC) announced an important change to its rules regarding calls to residential numbers that are currently exempt
New York State Senators Introduce Assembly Bill A3525
On January 20, 2023, New York State Assembly Members Jeffrey Dinowitz and Michael Benedetto introduced Assembly Bill (AB) A1730, which seeks to establish the Uniform
CFPB Proposes New Rule to Curb Excessive Credit Card Late Fees
On Wednesday, February 1, 2023, the Consumer Financial Protection Bureau (CFPB) has proposed a new rule to curb excessive credit card late fees, which cost
The Federal Reserve Board Issues New Policy: A Level Playing Field for All Banks
On Friday, January 27, 2023, the Federal Reserve Board announced a new policy statement aimed at ensuring all banks with a federal supervisor receive equal
New York Issues New Guidance on Crypto Currency Custodial Structures
On January 23, 2023, New York Department of Financial Services (DFS) released regulatory guidance to better protect customers in the event of virtual currency insolvency.
Massachusetts State Legislator introduces an Act relative to the licensing and supervision of debt management services in the Commonwealth
On January 18, 2023, Massachusetts Representative Daniel Cahill (D) introduced Bill HD.1676 (“Bill”), which seeks to establish an Act relative to the licensing and supervision
Michigan Suspends FTX Lend Money Transmitter License and Orders FTX US License as Expired
On January 10, 2023 by the Michigan Department of Insurance and Financial Services (DIFS), issued an order regarding two companies, West Realm Shires Services, Inc.
Louisiana Adopts Virtual Currency License
Louisiana has become the first state to follow New York’s lead in issuing a crypto-specific license, accepting Louisiana Virtual Currency Business Activity (VCBA) license applications
CFPB Proposed New Rule to Establish Public Registry of “Take It Or Leave It” Contract Terms and Conditions
On January 11, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a new rule to apparently shed light on the dark corners of the financial
Coinbase Agrees To Settlement With New York Regulator
On January 4, 2023, the New York State Department of Financial Services issued a consent order against Coinbase, a virtual currency company. Pursuant to the
FTC Proposes Ban on Employee Non-compete Clauses
On Thursday, January 5, 2023, the Federal Trade Commission (FTC) proposed a ban on non-compete clauses for workers in the United States. Non-compete clauses, which
CFPB Issues Report on TransUnion, Experian, and Equifax
On January 3, 2022, the Consumer Financial Protection Bureau (CFPB) published an annual report on the big three consumer reporting companies TransUnion, Equifax, and Experian.
CFPB Issues Proposed Rule Imposing Reporting Requirements on Certain Non-Bank Entities: Possible Implications for Money Transmitters, Debt Relief and Credit Repair Service Providers
On December 12, 2022, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule pursuant to its authority under the Consumer Financial Protection Act of