Tag Archives: CFPB consent order

Maurice Wutscher Attorneys Author Article for Business Law Today Month-In-Brief

July 6, 2018 — Maurice Wutscher attorneys Brent Yarborough and Eric Rosenkoetter have written an article published in the most recent issue of Business Law Today’s Month-In-Brief: Business Regulation & Regulated Industries.

In “CFPB Enters Consent Order with Consumer Lender over Debt Collection and Credit Reporting Practices,” Mr. Yarborough and Mr. Rosenkoetter discuss a consent order with a holding company and its affiliated operating entities engaged in consumer lending, issued by the Bureau of Consumer Financial Protection.

They write, “The lenders were collecting their own debt, and their principal purpose is consumer lending and not debt collection, thus their collection activities were not governed by the Fair Debt Collection Practices Act (“FDCPA”). Instead, the Bureau used its authority under the Dodd-Frank Wall Street Reform and Consumer Protection Act to find a that number of the lenders’ collection activities were ‘unfair, deceptive, or abusive acts or practices’ (UDAAP).”

Maurice Wutscher’s Donald Maurice Quoted in CreditCards.com Article

2ake0qaj_400x400Oct. 25, 2016 — Maurice Wutscher attorney Donald Maurice is quoted in a CreditCards.com article regarding the Consumer Financial Protection Bureau’s oversight of credit unions and new guidelines emerging from a recent CFPB consent order.

The article, “CFPB orders halt to ‘security interest’ debt collection practice; Navy Federal was fined $28.5 million over credit union practice of freezing accounts,” is available here.