CFPB and FTC Debt Collection Update
Given the historic nature of the Consumer Financial Protection Bureau's (CFPB) notice of proposed rulemaking interpreting the Fair Debt Collection Practices Act (FDCPA), there was not as much attention at the end of 2019 to other areas of federal regulatory activity. Yet, in 2019, the CFPB and the Federal Trade Commission (FTC) continued their use of enforcement to regulate debt buyers and debt collectors. And, the CFPB continued to supervise and examine debt collectors and furnishers, and publish research on topics of relevance to debt buyers.
Originally published in RMAI Insights Magazine
Want to be a Payment Facilitator? Here Are Five Things Software Companies Should Know
The payments industry is booming, and it seems like every software company wants to become a payment facilitator. A payment facilitator is a type of payments intermediary that signs up merchant customers ("submerchants") to process payments through the payment facilitator's account with a sponsor bank, directly or through a payment processor. While integrating payment facilitation into a software offering has many advantages, including the ability to provide a critical service to customers, greater control over customer relationships, and an additional source of profit, it also presents a number of regulatory, contractual, and operational challenges and risks.
"Lead Generation Compliance and Regulation in Today's World. Who's Minding the Store?" hosted by LeadsCon
Venable attorney Jonathan Pompan joined LeadsCon's Warren Pickett on the LeadsCon Industry Insider podcast episode, "Lead Generation Compliance and Regulation in Today's World. Who's Minding the Store?" to discuss current lead generation advertising compliance issues. With government, the private sector, and the daily news cycle engulfed by all things related to COVID-19, speakers discussed amongst other topics, what the pandemic means for privacy, protection, and regulations related to the lead-gen industry, and how companies are positioning their compliance efforts in the face of new work environments.
Mini-CFPBs – What Increased Regulation, Enforcement, and Supervision by State Agencies Mean for the Financial Services Industry
Venable recently hosted a webinar exploring the effect of increased supervision and enforcement efforts by states that have established "mini-CFPBs" to investigate and enforce consumer protection laws. Panelists, including Venable attorneys Andy Arculin, Allyson Baker, Gerry Sachs, Erin Cass, and Peter Frechette, offered these key insights.