The latest company news and industry insights from Access Capital Services. Topics include accounts receivable management, auto finance receivables, medical debt, financial services, government debt.
Access Capital Services teams with Coleman & Horowitt, LPP to strengthen collections litigation resourcesFresno, CA – Access Capital Services, Inc. (ACS) has teamed with Coleman & Horowitt, LLP and will be working with …
- Second Circuit upholds personal liability of individual owner for payday debt collection companies’ FTCA and FDCPA violations February 20, 2019The Second Circuit recently upheld a decision finding two individual co-owners personally liable for nearly $11 million for their companies’ violations of the Federal Trade Commission Act (FTCA) and Fair Debt Collection Practices Act (FDCPA). The companies’ business consisted largely of collecting payday loan debts they had purchased. In FTC v. Federal Check Processing, Inc.,... […]Bowen "Bo" Ranney
- CFPB issues Fall 2018 semi-annual report February 19, 2019The CFPB recently issued its Fall 2018 Semi-Annual Report to Congress covering the period April 1, 2018 through September 30, 2018. The report represents the CFPB’s first semi-annual report under the leadership of Director Kathy Kraninger. At 43 pages, the new report is only two pages longer than the last semi-annual report issued under the... […]Barbara S. Mishkin
- CFPB publishes 2019 final lists of rural and rural or underserved counties February 15, 2019The CFPB has published its 2019 final lists of Rural and Rural or Underserved Counties on its website. The CFPB has previously posted lists of such counties for calendar years 2011-2018. The CFPB has also updated the rural and underserved areas website tool for 2019. The lists and tool are relevant to exemptions from certain... […]Pavitra Bacon
- CFPB clarifies coverage of “disclosure sandbox” proposal; consumer groups comment on proposed revisions to no-action letter policy and creation of new “product sandbox” February 14, 2019“Disclosure Sandbox.” In September 2018, the Bureau proposed significant revisions to its “Policy to Encourage Trial Disclosure Programs” which sets forth the Bureau’s standards and procedures for exempting individual companies, on a case-by-case basis, from applicable federal disclosure requirements to allow those companies to test trial disclosures. Last week, the CFPB added the following update... […]Alan S. Kaplinsky
- This week’s podcast: a discussion of the CFPB’s TRID Rule guidance February 14, 2019Last month, after more than three years of urging by the industry to provide written guidance, the CFPB issued four FAQs on its TILA/RESPA Integrated Disclosure (TRID) Rule. In this week’s podcast, we take a close look at the FAQs and what they tell creditors, particularly its guidance on when a corrected Closing Disclosure and... […]Barbara S. Mishkin
- White House issues executive order on artificial intelligence February 14, 2019A new executive order signed by President Trump on February 11, 2019 is intended to maintain American leadership in artificial intelligence (AI) research and development (R &D). The order directs certain federal agencies to pursue various strategic objectives to promote and protect American advancement in AI. Those agencies are to be identified by the National... […]Christopher D. Ford and Judy Mok
- Experienced payments attorney Judy Mok joins Ballard Spahr’s CFS Group February 14, 2019I am pleased to announce that Judy Mok, an attorney with extensive experience negotiating complex payments transactions for some of the world’s largest retailers and financial institutions, has joined Ballard Spahr as Of Counsel in the firm’s Consumer Financial Services Group. She will be based in the firm’s New York office. Judy has a wealth... […]Alan S. Kaplinsky
- CFPB proposals to revise payday loan rule and delay compliance date published in Federal Register February 14, 2019The CFPB’s proposal to revise its final payday/auto title/high-rate installment loan rule to rescind the rule’s ability-to-repay (ATR) provisions in their entirety and its proposal to delay the compliance date for the ATR provisions until November 19, 2020 were published in today’s Federal Register. The CFPB’s proposals would leave unchanged the rule’s troublesome payment provisions... […]Barbara S. Mishkin
- Joint Final Flood Insurance Rule Regarding Private Insurance February 13, 2019Federal financial institution regulators recently issued a joint final rule to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (the “Act”) that require regulated financial institutions to accept private flood insurance policies. The regulators are the Farm Credit Administration, Federal Deposit Insurance Corporation, Federal Reserve Board, National Credit Union Administration, and Comptroller... […]Richard J. Andreano, Jr.
- PLI 24th Annual Consumer Financial Services Institute – 25% discount available February 12, 2019PLI’s 24th Annual Consumer Financial Services Institute will take place on March 25-26, 2019, in New York City (and by live webcast and groupcast in Philadelphia, Pittsburgh, and Mechanicsburg, Pennsylvania, and New Brunswick, New Jersey); on May 20-21, 2019, in Chicago; and on December 9-10, 2019, in San Francisco (and by live webcast). The Institute... […]Alan S. Kaplinsky