A&B ABstract: On January 7, 2020, the Federal Trade Commission (FTC) announced a complaint and settlement against California mortgage broker Mortgage Solutions FCS, doing business as Mount Diablo Lending, and its owner, Ramon Walker, (collectively, Mortgage Solutions). The FTC’s complaint (Complaint) alleged that in response to negative Yelp reviews posted by applicants and customers, the […]
Fair Credit Reporting Act (FCRA)
CFPB Issues New Edition of Supervisory Highlights
A&B ABstract: The Fall 2019 edition of the CFPB’s Supervisory Highlights focuses on credit reporting issues of interest. Discussion The Fall 2019 edition of Supervisory Highlights represents the second time the Consumer Financial Protection Bureau (“CFPB”) has focused entirely on credit reporting. With respect to furnishers, the Supervisory Highlights includes five categories of supervisory observations […]
Maine Enacts Law Protecting Victims of Economic Abuse
A&B Abstract: An Act to Provide Relief to Survivors of Economic Abuse (the “Economic Abuse Law”), effective September 19, 2019, is aimed at preventing “economic abuse” by providing certain protections to victims of such abuse, in part, by imposing additional obligations on debt collectors and consumer reporting agencies (“CRAs”). Debt collectors and CRAs should carefully review […]
CFPB Issues New Edition of Supervisory Highlights
A&B Abstract: The Summer 2019 edition of the CFPB’s Supervisory Highlights indicates recent examination focuses for several categories of consumer credit products. CFPB Issues New Edition of Supervisory Highlights On September 19, the Consumer Financial Protection Bureau (“CFPB”) issued the Summer 2019 edition of Supervisory Highlights, detailing examination findings relating to automobile loan origination, […]