The Consumer Financial Protection Bureau (CFPB) today finalized its rule covering loans that require consumers to repay all or most of the debt at once, including payday loans, auto title loans, deposit advance products, and longer-term loans with balloon payments. Specifically, the rule imposes onerous ability-to-repay requirements before issuing covered loans and requires new debit […]

Consumer Financial Protection Bureau Director Richard Cordray delivered remarks outlining an important new direction on how the CFPB intends to proceed in developing rules to govern the debt collection market during today’s Consumer Advisory Board meeting in Washington, D.C. Specifically, Director Cordray stated that after considering the feedback received on the third-party Debt Collection Outline […]

Commissioner receives standing ovation for critique of past FCC actions at ACA annual DC event. FCC Commissioner Michael O’Rielly addressed a record crowd of ACA members in Washington DC this morning. During his keynote address, Commissioner O’Rielly emphasized the need for clear and rational TCPA rules, as well as guiding principles for future TCPA regulations. […]

ACA Member Alert: ACA International CEO Pat Morris today issued the following statement in response to House Financial Services Committee Chairman Jeb Hensarling (R-Texas) scheduling a hearing next Wednesday to discuss the newly-released draft of the “Financial CHOICE Act 2.0.” “Our members and industry thank Chairman Hensarling for his leadership and vision in scheduling this […]

  News Release U.S. Department of Labor  |  April 12, 2017 Employer in fatal Boston trench collapse did not provide safety training and basic safeguards for employees, OSHA finds Atlantic Drain Service Co. Inc. cited for 18 violations BOSTON – Robert Higgins and Kelvin Mattocks died on Oct. 21, 2016, in Boston, when the approximately […]