Kathleen C. Ryan

Latest Articles

On May 7, 2019, the Consumer Financial Protection Bureau (CFPB) issued proposed rules (“Proposed Rules”) under the Fair Debt Collection Practices Act (FDCPA) and its authority under the Dodd-Frank Act. If finalized, the Proposed Rules will be the first substantive regulations for debt collection practices since the FDCPA was enacted in 1977. The Proposed Rules would clarify the application of the FDCPA to current market conditions, most notably by permitting the use of text messages, emails, and social…
On May 2, 2019, the CFPB issued two releases related to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). The CFPB released a notice of proposed rulemaking (NPRM) to adjust Regulation C’s loan volume thresholds that trigger HMDA and to make other changes. Comments are due 30 days after publication in the Federal Register. The CFPB also released an advance notice of proposed rulemaking (ANPR) seeking comment on whether it should propose to…
On March 20, 2019, the Supreme Court unanimously ruled in Obduskey v. McCarthy & Holthus LLP that a business engaged in non-judicial foreclosure is not subject to all of the requirements and prohibitions applicable to “debt collectors” under the Fair Debt Collections Practices Act. We discuss The Supreme Court’s decision and how this ruling is limited to situations where a business’s actions are required by state law governing enforcement of security interests. Read our client
The Consumer Financial Protection Bureau (CFPB) recently posted a new compliance tool on its website – answers to frequently asked questions (FAQs) about the TILA-RESPA Integrated Disclosure Rule (“TRID Rule”). The FAQs were posted without advance notice or comment, signaling that perhaps the CFPB will dispense with lengthy processes when providing written guidance. What follows is a brief summary of the FAQs. Read our client alert.