Clearly Conspicuous

Clearly Conspicuous

por Holland & Knight

Gobierno Tecnología

The CFPB Takes Action Against VyStar Credit Union

In this episode of his "Clearly Conspicuous" podcast series, "The CFPB Takes Action Against VyStar Credit Union," consumer protection attorney Anthony DiResta examines the Consumer Financial Protection Bureau's (CFPB) action against VyStar Credit Union ordering the company to pay $1.5 million for a failed online banking system rollout that left consumers unable to access their accounts. The CFPB found that VyStar violated the Consumer Financial Protection Act by ignoring red flags and rushing an untested platform, resulting in significant harm to its members. In this episode, Mr. DiResta highlights the CFPB's authority to take action against large credit unions and the importance of proper planning and testing when implementing new financial technology.

The CFPB Takes Action on a Toronto-Based Bank’s Consumer Credit Reports

In this episode of his "Clearly Conspicuous" podcast series, consumer protection attorney Anthony DiResta discusses the Consumer Financial Protection Bureau's (CFPB) new order requiring TD Bank to pay $28 million for breakdowns that allegedly tarnish consumer credit reports. Mr. DiResta provides a high-level overview and key takeaways regarding this investigation.

The Election's Impact on the FTC Will Bring Big Changes, But Being Vigilant Must Remain a Priority

In this episode of his "Clearly Conspicuous" podcast series, "The Election's Impact on the FTC Will Bring Big Changes, But Being Vigilant Must Remain a Priority," consumer protection attorney Anthony DiResta explores the potential changes at the Federal Trade Commission (FTC) following the recent election. Mr. DiResta is a former director at a regional office of the FTC who has defended companies in dozens of FTC investigations and who counsels companies in compliance management and risk assessments. He draws on this experience to examine how the FTC's structure and enforcement approach may evolve under the new administration. He also dives into a deep discussion on the role of state attorneys general in consumer protection and offers practical guidance for businesses navigating these changes as Republicans take control of both the White House and Congress. This insightful episode provides valuable perspective on the shifting landscape of consumer protection regulation and enforcement.

The CFPB Highlights Alleged Deceptive Debt Collection Practices

In this episode of his "Clearly Conspicuous" podcast series, "The CFPB Highlights Alleged Deceptive Debt Collection Practices," consumer protection attorney Anthony DiResta examines the Consumer Financial Protection Bureau's (CFPB) Summer 2024 Supervisory Highlights. The publication focuses on several areas of concern in consumer financial services, including auto and student loan servicing, debt collection practices, medical payment products and account freezes. In auto loan servicing, the CFPB identifies issues with inadequate notifications for final manual payments in auto-pay systems, while student loan servicers were found to have excessive barriers to assistance and inaccurate information about forbearance programs. Debt collectors were cited for disclosure violations, harassment and inconvenient communications. The report also notes concerns about medical credit cards and account freezes. Mr. DiResta explains that the CFPB's observations align with previously identified issues, particularly with regard to customer service levels and medical debt financing products.

The CFPB's Effort to Remove Medical Debt from Credit Reports

In this episode of his "Clearly Conspicuous" podcast series, consumer protection attorney Anthony DiResta discusses the Consumer Financial Protection Bureau's (CFPB) efforts to remove medical debt from credit reports. The CFPB believes the move will enhance consumer privacy, improve credit scores and end coercive debt collection practices. Mr. DiResta explores the potential benefits for both consumers and lenders, including potentially increasing the number of safe mortgage approvals.

Supreme Court Upholds CFPB Funding Structure

In this episode of his "Clearly Conspicuous" podcast series, "Supreme Court Upholds CFPB Funding Structure," consumer protection attorney Anthony DiResta discusses a U.S. Supreme Court decision affirming the Consumer Financial Protection Bureau's (CFPB) funding mechanism by a 7-2 vote. This episode unpacks the historical and legal significance of the court's decision that overturned a lower court's ruling finding the funding model was unconstitutional. Mr. DiResta examines the majority opinion, penned by Justice Clarence Thomas, which leans on both the text of the Constitution and historical practices. He also explores Justice Samuel Alito's dissenting view, which argues the decision grants the CFPB unchecked financial autonomy.

FTC and CFPB Focus on Medical, Rental Debt Collection Practices

In this episode of his "Clearly Conspicuous" podcast series, "FTC and CFPB Focus on Medical, Rental Debt Collection Practices," consumer protection attorney Anthony DiResta examines the Federal Trade Commission (FTC) and Consumer Financial Protection Bureau's (CFPB) recent efforts to protect consumers in the debt collection industry. Mr. DiResta discusses the agencies' annual reports, highlighting aggressive practices from medical and rental debt collection companies, including attempts to collect already-paid bills and improperly inflated rental debts. He also outlines the CFPB's enforcement actions, emphasizing the bureau's focus on ensuring debt collectors follow consumer protection laws and touching on issues such as unsubstantiated debt collection and illegal threats. For more, visit: https://www.hklaw.com/en/insights/media-entities/2024/10/podcast-ftc-and-cfpb-focus-on-medical-rental-debt-collection-practices

FTC Challenges H&R Block's Marketing and Data Practices

In this episode of his "Clearly Conspicuous" podcast series, "FTC Challenges H&R Block's Marketing and Data Practices," consumer protection attorney Anthony DiResta discusses the Federal Trade Commission's (FTC) actions against H&R Block for alleged deceptive practices, including deleting consumer data, making downgrades difficult and deceiving consumers about free tax preparation services. The administrative complaint filed by the FTC details H&R Block's purported strategies to compel consumers to buy pricier products, challenges encountered during product downgrades and deceptive offers featured in advertisements. Mr. DiResta highlights the FTC's strict stance on consumer protection and its heightened oversight of advertising practices, underscoring the importance of effective strategies for navigating these regulatory changes successfully.

CFPB Warns of Manipulation in Digital Comparison Shopping Tools

In this episode of his "Clearly Conspicuous" podcast series, "CFPB Warns of Manipulation and Dark Patterns in Digital Comparison Shopping Tools," consumer protection attorney Anthony DiResta discusses the Consumer Financial Protection Bureau's (CFPB) circular warning about comparison shopping operators potentially violating federal law. The CFPB's guidance explains how certain practices can deceive consumers who rely on these tools for unbiased information about financial products, particularly in the credit card and mortgage markets. He also notes that the CFPB's circular is part of broader efforts to level the playing field for consumers across various financial product and service industries.

Credit Card Late Fees Have the CFPB's Interest

In this episode of his "Clearly Conspicuous" podcast series, "Credit Card Late Fees Have the CFPB's Interest," consumer protection attorney Anthony DiResta examines the Consumer Financial Protection Bureau's (CFPB) propose rule that would significantly reduce the cost of late fees for credit cards and potentially save consumers hundreds of dollars each year. Mr. DiResta explores the CFPB's goal to address junk fees and market dominance by a few players, aiming to provide consumers with more meaningful choices in the credit card industry. Read more.

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