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Fifth State in the Union Becomes Fifth State to Enact Data Privacy Legislation

On May 10, Gov. Ned Lamont signed into law Substitute Senate Bill 6 (Public Act 22-15), Connecticut’s version of comprehensive consumer data privacy legislation.  This makes Connecticut the fifth state to enact such legislation, following California, Virginia, Colorado, and Utah.  The Act will go into effect July 1, 2023.

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You Can't Run a Company with Empty Seats

Hiring is no longer just about wanting to employ someone new. It’s also about that prospective employee wanting to work for you. Employee expectations have gone up and you need to meet them if you want to stay ahead of the hiring shortage. Find out how to combat the hiring shortage during our new webinar, Solve Your Staffing Shortage: How to Recruit, Hire, and Retain Your Best Employees, on May 19th at 2pm ET.
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Court Reduces Punitive Damages Award in FCRA Case

In Ramones v. AR Res., Inc., No. 19-62949-CIV-SCOLA/SEITZ (S.D. Fla. Apr. 8, 2022), the court refused to set aside an award of punitive damages based on violations of the Fair Credit Reporting Act, but it reduced the jury’s award from $700,000 to $450,000.

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Credit Eco to Go: Coming to America- Building a Friction-less Collection Process

The co-Founders of @Creditas, India’s leading technology provider in the delinquent management space, are our guests to kick off the 3rd season of @ClarkHillLaw’s #CreditEcoToGo. Anshuman Panwar and Madan Srinivasan share their observations of the US collections market, where they hope to launch shortly, and the unique architecture of their technology that was built with the consumer in mind.

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Malone Frost Martin Hires Chelsey Pankratz to Open Jacksonville Office

DALLAS, TX -- Malone Frost Martin PLLC (MFM), a leading industry defense and compliance law firm, is very pleased to announce the addition of Chelsey Pankratz who will head up MFM’s new satellite office location in Jacksonville, Florida at 301 W. Bay Street, Suite 14147, Jacksonville, FL, US 32202.

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CFPB Says ECOA Applies to an Accounts Full Life Cycle, including Collection Procedures

On May 9, 2022, the CFPB announced it issued an advisory opinion stating that in its opinion, the Equal Credit Opportunity Act (ECOA) applies to every aspect of dealing with a creditor, not just to the credit application process. The advisory opinion indicates ECOA protections apply to revocation, collection procedures, alteration or termination of credit, and anything else that takes place after credit has been extended.

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CFPB Argues the FCRA Requires Furnishers to Investigate Legal Issues Raised in Consumer Disputes

On April 7, the Consumer Finance Protection Bureau (CFPB or Bureau) filed an amicus brief in an appeal, pending before the Court of Appeals for the Eleventh Circuit in which the Bureau argued that the Fair Credit Reporting Act (FCRA) does not exempt furnishers from investigating disputes based on legal questions as opposed to factual inaccuracies. Section 1681s-2(b)(1) of the FCRA states that a furnisher of consumer information must conduct an investigation of disputed information upon receiving notice from a consumer reporting agency (CRA) that the consumer has disputed the accuracy of the information. Many courts have interpreted this to require furnishers to reasonably investigate factual questions, but not disputed legal issues (e.g., whether a consumer is liable for a reported debt). By contrast, the CFPB’s brief asks the Eleventh Circuit to “clarify that furnishers are required to conduct reasonable investigations of both legal and factual questions posed in consumer disputes.”

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WCF 2022

5 December 2022 at 08:00 a.m.

Sharpen your leadership skills, expand your professional network and help improve your workplace culture when you attend Women in Consumer Finance 2022, December 5-7, 2022 at the Renaissance Esmeralda in Palm Springs. 

Registration is now open!

Event Details »