CFPB’s Proposed Debt Collection Rule

On Tuesday, May 7, 2019 the Consumer Financial Protection Bureau (CFPB) issued their proposal to amend Regulation F, which incorporates the Fair Debt Collection Practices Act (FDCPA). The proposed rule takes into account the current communication landscape, which vastly differs from when the FDCPA was first enacted. Specifically, it clarifies how debt collectors can communicate …

CFPB to Update 1977 Laws on Debt Collection

On Wednesday, April 17th, Kathy Kraninger delivered her first major policy speech as the Director of the Consumer Financial Protection Bureau (CFPB), to announce major changes to debt collection rules in the coming weeks. Creditors’ rights advocates like ALAW have been eagerly awaiting an update to the Federal Debt Collection Practices Act (FDCPA) for clarification …

U.S. Bankruptcy Court for the District of South Carolina Changes Objection Time for Chapter 13 Plans

Effective May 1, 2019, the U.S. Bankruptcy Court for the District of South Carolina will adopt a new Chapter 13 Plan form.  The time period for objection to the Plan will no longer be visible on the face of the Plan.  Instead, the Plan will direct creditors to the “Notice of Bankruptcy Case or applicable Notice/Motion.” …

LEGAL ALERT: Obduskey v. McCarthy & Holthus 

U.S. Supreme Court rules that businesses engaged in nonjudicial foreclosure proceedings are not considered “debt collectors” under the Fair Debt Collection Practices Act  In a much-anticipated decision, the U.S. Supreme Court upheld the Tenth Circuit by holding that entities conducting nonjudicial foreclosures are not “debt collectors” under the Fair Debt Collection Practices Act, except in the …

LEGAL ALERT: New Mortgage Servicer Requirements for Ohio

Information on Ohio H.B. 489 Pre-Foreclosure Notice on Junior Liens Ohio H.B. 489 implements a new requirement [1], effective March 20, 2019, which requires a person collecting a debt that is secured by a second mortgage or junior lien on a debtor’s residential real property, to send a written notice via U.S. mail to the debtor’s …

Florida Appeals Court Says Lenders Can Recover Amounts Accrued over Five Years Past Due

On December 26, 2018, Florida’s Fifth District Court of Appeal issued an opinion allowing recovery of amounts accrued more than five years prior to the filing of the foreclosure. Although the Court’s decision in William L. Grant v. Citizens Bank, N.A. (Case # 5D17-726) is not final until the deadline to file for rehearing passes, …