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 …
- The CFPB’s proposed “abusive” rulemaking: much ado about nothing? October 18, 2018In its blog post announcing the Fall 2018 Rulemaking Agenda, the CFPB announced that it is “considering how rulemaking may be helpful to further clarify the meaning of ‘abusiveness’ under the section 1031 of the Dodd-Frank Act.” This statement follows press reports of Acting Director Mulvaney commenting about the possibility of a rulemaking to define... […]Christopher J. Willis
- CFPB hints at possible disparate impact rulemaking October 18, 2018On October 17, the Bureau released its Fall 2018 Rulemaking Agenda, but it included a surprise for those interested in fair lending. Under the section of the associated blog post entitled “Future Planning” appears the following statement: “The Bureau is considering future [rulemaking] activity with regard to specific areas of consumer financial law of significant... […]Christopher J. Willis
- Federal Reserve seeks comment on actions to support development of faster payments October 18, 2018Earlier this month, the Federal Reserve invited comment on actions it can take “to promote ubiquitous, safe, and efficient faster payments in the United States by facilitating real-time interbank settlement of faster payments.” Comments are due by December 14, 2018. More specifically, the Fed is seeking comment on two potential actions. One action is the... […]Fred H. Miller
- Court allows Dept. of Education “borrower defense” final rule to take effect October 18, 2018The “borrower defense” final rule (Final Rule) issued by the Dept. of Education in November 2016 took effect at noon yesterday after Judge Randolph D. Moss of the D.C. federal district court refused to grant the renewed motion for a preliminary injunction filed by the California Association of Private Postsecondary Schools (CAPPS) seeking to preliminary... […]John L. Culhane, Jr.
- This week’s podcast: update on debt collection developments October 18, 2018Debt collection continues to be one of the most active areas in consumer finance law. In this week’s podcast, Ballard Spahr attorneys will discuss the challenges facing the debt collection industry in private litigation and how to address them. We’ll talk about how new technology is changing the industry, assess the effect of the CFPB’s... […]Barbara S. Mishkin
- CFPB Fall 2018 rulemaking agenda confirms plans to consider rulemaking on “abusiveness” standard October 17, 2018The CFPB’s Fall 2018 rulemaking agenda has been published by the Office of Information and Regulatory Affairs (OIRA) as part of its Fall 2018 Unified Agenda of Federal Regulatory and Deregulatory Actions. (OIRA is part of the Office of Management and Budget.) It represents the CFPB’s second rulemaking agenda under the Trump Administration and Acting Director... […]Barbara S. Mishkin
- NY Attorney General files appeal with Second Circuit in RD Legal Funding case October 15, 2018The New York Attorney General, on October 12, 2018, filed a notice of an appeal to the Second Circuit from Judge Preska’s dismissal on September 12, 2018 of all of the NYAG’s federal and state law claims, and her subsequent September 18 order amending the September 12 order to provide that the NYAG’s claims under Dodd-Frank... […]Alan S. Kaplinsky
- Consumer groups challenge CFPB’s proposal to revise trial disclosure policy October 15, 2018The CFPB’s proposed revisions to its “Policy to Encourage Trial Disclosure Programs” (TDP Policy) have been strongly criticized by consumer and public interest groups who, in addition to other objections, assert that the proposal exceeds the Bureau’s authority under Section 1032(e) of the Dodd-Frank Act. Section 1032(e)(1) provides: The Bureau may permit a covered person... […]Alan S. Kaplinsky
- Regulation by Enforcement is Dead October 15, 2018Addressing the Mortgage Bankers Association (MBA) 2018 Annual Convention in Washington, DC on October 15, 2018, BCFP Acting Director Mick Mulvaney advised that regulation by enforcement is dead, and that he does not care much for regulation by guidance either. He noted to the members that they have a right to know what the law... […]Richard J. Andreano, Jr.
- NY enacts new disclosure requirements for use of auto “kill switches” October 15, 2018New York has enacted legislation that requires creditors to provide new disclosures when using devices to remotely disable vehicles, commonly referred to as “kill switches.” The new law took effect immediately upon its signing by Governor Cuomo on October 2, 2018. First, the law amended New York’s Uniform Commercial Code to add a definition for... […]Alan S. Kaplinsky