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FTC Submits Comments to the CFPB’s Notice of Proposed Rulemaking Regarding the FDCPA

by Scott J. Hyman |

They used to write the Official Staff Commentary, and give "Informal Staff Opinion" letters to industry to assist industry in complying with the FDCPA.  Now, the FTC has filed a Comment in response to the CFPB's Notice of Proposed Rulemaking that can be found at https://www.ftc.gov/system/files/documents/advocacy_documents/comment-staff-federal-trade-commissions-bureau-consumer-protection-matter-proposed-rule-request/final_-_cfpb_debt_coll_draft_comment_9-13_v2_1pm_ver_to_comm.pdf  The FTC devotes almost half of their comment to reminding the CFPB that the… Read More

FTC Goes After Entities Who Do Cross-Border Data Processing for Falsely Claiming that They Participate in the EU-US Privacy Shield Program

by Scott J. Hyman |

As a reminder that the promises you make on your website must align with your data privacy practices,the FTC announced that it just reached reached a settlement with a background screening company over allegations it falsely claimed to be a participant in the EU-U.S. Privacy Shield program. In separate actions, the FTC also sent warning letters to more than a… Read More

FTC Issues Commentary on the Holder Rule

by Scott J. Hyman |

As FY 2015 came to a close, the FTC asked for commentary on its Holder Rule for assignee liability.  Consumers and Industry responded in early 2016.  Three years in the making, the FTC finally responded, issuing its commentary today in the Federal Register, and it's first official commentary since the Rule was promulgated in 1975.  FTC Commentary on Holder Rule 5-2-19. … Read More

FTC’s 2018 Privacy & Data Security Update: What it means for your business?

by Scott J. Hyman |

Today, the FCC issued its 2018 Privacy and Data Security Update, a compendium for attorneys, business executives, and others who are long on interest, but short on time. It summarizes the seven zones that were central to the FTC’s 360° approach in 2018.  The Report can be found in embedded links with the FCC’s press release today. https://www.ftc.gov/news-events/blogs/business-blog/2019/03/ftcs-2018-privacy-data-security-update-what-it-means-your?utm_source=govdelivery Read More

CFPB’s March 2019 Supervisory Highlights Focus on Automobile Finance

by Scott J. Hyman |

The CFPB just issued it’s Supervisory Highlights, paying particular attention to automobile finance and issues regarding ancillary products. The Bureau continues to examine auto loan servicing activities, primarily to assess whether servicers have engaged in unfair, deceptive, or abusive acts or practices (UDAAPs) prohibited by the Consumer Financial Protection Act of 2010 (CFPA). Recent auto loan servicing examinations identified unfair… Read More

FTC Puts GLBA’s Safeguards Rule and Privacy Rule Up for Comment

by Scott J. Hyman |

The Federal Trade Commission is seeking comment on proposed amendments to two rules that protect the privacy and security of customer information held by financial institutions. In separate notices to be published in the Federal Register, the FTC is seeking comment on proposed changes to the Safeguards Rule and the Privacy Rule under GLBA.  The Safeguards Rule requires a financial… Read More

FCC Seeks Additional Commentary on the TCPA’s Definition of ATDS Following 9th Cir’s Marks Decision.

by Scott J. Hyman |

On October 3, the FCC issued a Request for Comment on the TCPA's definition of ATDS following the 9th Circuit's Marks decision.  A copy of the FCC's Request is here.  The deadline to file commentary is October 24, 2018.   The FCC seemed concerned by Marks' expansive interpretation of the TCPA's definition(s).  In other words, the [Marks] court interpreted the statutory language expansively so… Read More

5th Cir. Says CFPB Did Not Issue a Proper CID; the CFPB Does Not Have “Unfettered Authority to Cast About for Potential Wrongdoing”

by Scott J. Hyman |

In Consumer Financial Protection Bureau v. Source for Public Data, L.P., 2018 WL 4258966, at *3 (C.A.5 (Tex.), 2018), the Court of Appeals for the Fifth Circuit rejected the CFPB's petition to enforce a CID against an alleged consumer reporting agency, where the only the wrongdoing the CFPB listed was "FCRA violation" and “any other federal consumer financial law.”. Such… Read More

District Court (N.Y.) Strikes Down CFPB’s Structure as Unconstitutional

by Scott J. Hyman |

In CFPB v. RD Legal Funding, Inc., 17-CV-890 (U.S.D.C. S.D. N.Y. June 21, 2018), here, Judge Preska disagreed with the DC Circuit’s PHH decision and found the CFPB’s structure unconstitutional. In reaching the question of the constitutionality of Title X of Dodd-Frank, which established the CFPB as an “independent bureau” within the Federal Reserve System, 12 U.S.C. § 5491(a), the… Read More

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