Following its recent “initiative” and request for information to reduce “exploitative junk fees,” the Consumer Financial Protection Bureau (“CFPB”) has on June 29, 2022 released an advisory opinion. The opinion concludes that “pay-to-pay fees,” which the debt collection industry refers to as “convenience fees” violate the Fair Debt Collection Practices Act (“FDCPA”)

Thursday, October 28, 2021
1:00 p.m. to 2:00 p.m. Eastern
12:00 p.m. to 1:00 p.m. Central
11:00 a.m. to 12:00 p.m. Mountain
10:00 a.m. to 11:00 a.m. Pacific

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FinTech produces real benefits to consumers, including increased speed, convenience, and new product offerings that make it easier for consumers to manage their financial lives.

A mere three weeks after the application to vacate stay was filed, the United States Supreme Court has effectively ended the year-long row over the lawfulness of the federal Centers for Disease Control’s nationwide eviction moratorium (the “CDC Moratorium”).¹ On August 26, 2021, in a per curiam opinion joined by six members of the Court,

Tuesday, June 29, 2021
1:00 p.m. to 2:00 p.m. Eastern
12:00 p.m. to 1:00 p.m. Central
11:00 a.m. to 12:00 p.m. Mountain
10:00 a.m. to 11:00 a.m. Pacific

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The CARES Act gives borrowers a payment break on federal student loans—but starting in October, payments will start back up. Servicers of private and federal

On January 5, 2021, the Consumer Financial Protection Bureau (CFPB) Taskforce on Federal Consumer Financial Law (Taskforce) issued a nearly 900-page final report (Report) making extensive recommendations for legislative and regulatory reform, enactment, and adoption of new initiatives in the financial marketplace. In proposing changes to the existing legal and regulatory framework, the Report is

In the first installment of Seyfarth’s 2021 monthly Consumer Financial Services Webinar Series held on February 24, 2021, attorneys David M. Bizar, Tonya M. Esposito and J. Patrick Kennedy discussed the major legislative initiatives, regulatory and enforcement, and executive actions that are likely to be prioritized by the Biden-Harris administration; the key financial department appointees

Synopsis: Last month, the Ninth Circuit issued an opinion, affirming broad Article III standing and holding that, for permissible-purpose claims, a consumer-plaintiff need allege only that his/her credit report was obtained for a purpose not authorized by the statute to survive a motion to dismiss, regardless of whether the report is published or otherwise

Seyfarth Synopsis: In a 9-0 Supreme Court ruling last week, the Court spoke to issues concerning the Fair Debt Collection Practices Act (FDCPA) and non-judicial foreclosures.

The FDCPA is intended to “eliminate abusive debt collection practices by debt collectors, to insure that those debt collectors who refrain from using abusive debt collection practices are

In a matter of first impression, the Fifth Circuit upheld a dismissal by the Northern District of Texas holding that a lender cannot be held vicariously liable for a loan servicer’s purported violation of the Real Estate Settlement Procedures Act (“RESPA”). In upholding the decision, the Court held that the borrower failed to plead an