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On Wednesday, the U.S. House of Representatives passed H.R. 1737 ("Reforming CFPB Indirect Auto Financing Guidance Act"), designed to repeal the CFPB's March 2013 bulletin covering indirect auto finance. The Bill "declares without force or effect Consumer Financial Protection Bureau (CFPB) Bulletin 2013-02 (Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act), published March 21, 2013" and "amends… Read More

The Subcommittee on Communications and Technology held a hearing on Friday, November 4, 2011, at 9:00 a.m. in 2123 Rayburn House Office Building on “H.R. 3035, The Mobile Informational Call Act of 2011.”  The link below includes a video of the testimony, a Background Memo and an Opening statement from Communications and Technology Subcommittee Chairman Greg Walden.   http://energycommerce.house.gov/hearings/hearingdetail.aspx?NewsID=9065 Read More

Yesterday, the FCC issued an Order implementing the Truth-in-Caller-ID Act, here.  The FCC's press release explained:   Increasingly, bad actors are altering or manipulating caller ID information—known as caller ID spoofing—to further a wide variety of malicious schemes, from identity theft to placing false emergency calls to SWAT teams.  Using spoofing services accessible through the web or prepaid cards, anyone can… Read More

The Summary, found here, states in part that "Through its consumer protection goal, the FTC focuses its efforts on fighting consumer fraud, deception, and unfair practices, and protecting consumer data and privacy.  Agency law enforcement actions will continue to target deceptive and other illegal practices involving mortgage lending, debt collection, and other financial services. These practices can have severe consequences… Read More

The Federal Trade Commission issued its annual report to the Federal Reserve Board on FTC enforcement activities regarding the Equal Credit Opportunity Act, Electronic Fund Transfer Act (EFTA), Consumer Leasing Act, and Truth in Lending Act. This year’s report also discusses FTC activities under the Dodd-Frank Wall Street Reform and Consumer Protection Act, such as enforcement of new EFTA requirements… Read More

The Red Flag Program Clarification Act of 2010 narrows the definition of the term “creditor” to include only entities that that use consumer reports, furnish information to consumer reporting agencies, or to others who extend credit.  More specifically, it amends the Fair Credit Reporting Act, with respect to federal agency (red flag) guidelines regarding identity theft and the users of consumer… Read More

In the context of debt collection, non-disclosure, blocking, or misrepresentation through telephone caller identification equipment has received attention from the FTC and courts. For example, one FTC complaint pleaded: 19. In numerous instances, including in connection with newly-acquired loans, [collector] has made collection calls to borrowers repeatedly and with excessive frequency under the circumstances. In addition, in numerous instances, [collector]… Read More

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