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CFPB Director Addresses Enforcement Strategy for New Mortgage Rules before Senate Banking Committee
On Tuesday November 12, the Senate Committee on Banking, Housing, and Urban Affairs held a hearing on the fourth Semi-Annual Report of the Consumer Financial Protection Bureau (CFPB or Bureau). The hearing came amid…
CFPB Releases Advanced Notice of Proposed Rulemaking on Debt Collection Practices
On Wednesday November 6, the CFPB released an Advanced Notice of Proposed Rulemaking (ANPR) seeking comment on debt collection practices and noting that the Bureau is considering proposing rules regarding debt…
Senate Confirms Cordray as CFPB Director
The saga of Richard Cordray’s appointment as Director of the CFPB has finally ended: the Senate voted 66-34 today to confirm Cordray. Before the confirmation vote, the Senate voted 71-29 to end the filibuster of…
FTC Issues Guidance to Clarify Scope and Requirements of Red Flags for Identity Theft Prevention Rule
The FTC has released a guidance document that clarifies the scope of its Red Flags for Identity Theft Prevention Rule (“the Red Flags Rule”) and provides a practical four step guide for covered entities to assess…
Industry Stakeholders, Government Officials and Consumer Advocates Discuss Data Use in Debt Collection at CFPB-FTC Roundtable
As initially reported, the CFPB and FTC held a public roundtable last week that brought together industry stakeholders, government officials and consumer advocates to discuss the use of consumer data throughout the…