Federal Legislation

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 National Association of Attorneys General submitted a letter brief opposing the Mobile Informational Call Act (HR 3035) that would make amendments to the TCPA.  NAAG HR 3035 letter 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. 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

Sen. Franken just introduced the "End Debt Collector Abuse Act of 2010", a copy of which is here.  As a general proposition, the bill would (1) prohibit a request by a debt collector to have a warrant issued for the rest of any debtor, (2) add new debt validation notice requirements, (3) add new validation requirements in response to a… Read More

2010 HR 4173 Read More

In support of their efforts to consolidate consumer protection enforcement in one agency, consumer advocates prepared a nifty little  chart for Congress setting out the hodge-podge of administrative agency enforcement of consumer protection. Read More

Today, the Financial Services Committee approved legislation that will establish a new, independent federal agency solely devoted to protecting Americans from unfair and abusive financial products and services.   The Committee's press release states as follows: As called for by President Obama, the Consumer Financial Protection Agency (CFPA) represents one of the most significant efforts by Congress to bring about long… Read More

Committee to Hold Hearing on Consumer Financial Protection Agency   Washington, DC – The Committee on Financial Services will hold a hearing titled “Perspectives on the Consumer Financial Protection Agency” on Wednesday, September 30.     Who:               House Financial Services Committee What:             Hearing: “Perspectives on the Consumer Financial Protection Agency” When:             Wednesday, September 30 10:00 a.m. Where:           Room 2128, Rayburn House Office… Read More

On Wednesday, the House Financial Services Committee heard testimony from industry on the Administration's financial reform proposals.   The testimony can found be found here, highlighted by prepared statements from AFSA, MBA. and ABA.  Today, the House FSC is hearing testimony from Consumer Advocates, whose prepared statements can be found here. Read More

On June 30, the Obama administration delivered legislation to the Hill in support of creating a Consumer Financial Protection Agency.  The text of the legislation can be found here, and the FTC's prepared statement to the House Financial Services Committee can be found here. The House Financial Services Committee Press Release can be found here.  The Senate Committee on Banking,… Read More

The Consumer Credit and Debt Protection Act, introduced by Bobby Rush (D. Ill) on May 7, 2009, and co-sponsored by Doris Matsui (D. Cal.) and Janice Schakowski (D. Ill), currently is pending before the House of Representatives.   (H.R. 2309)   Section 2 of the Bill would authorize the FTC to regulate automobile sales: (2) AUTOMOBILE SALES- The Federal Trade Commission shall… Read More

Here is the draft text of the auto legislation that Congressional Democrats shared with the White House yesterday. Proposed Auto Legislation Update: 121008-revised-text Read More