The CFPB extended the comment deadline an additional 60 days on a supplemental rule proposal to amend certain requirements on the collection of time-barred debts. The new comment deadline is August 4, 2020.
The New York State Department of Financial Services provided temporary regulatory relief for New York-chartered financial institutions concerning (i) conducting in-person meetings and (ii) holding annual stockholder meetings.
An article on the effective date for the Federal Reserve Board, OCC and FDIC joint final rule increasing the major asset prohibition thresholds for the management interlock rule misstated the effective date as October 9, 2019. The correct effective date is October 10, 2019.
The Office of the Comptroller of the Currency, Federal Reserve Board and FDIC joint final rule to increase the major asset prohibition thresholds for management interlock rule was published in the Federal Register.
On March 20, 2019, the Supreme Court ruled that a law firm that carries out non-judicial foreclosure proceedings would not be considered a "debt collector" under the Fair Debt Collection Practices Act.
The Consumer Financial Protection Bureau provided its annual report to Congress on the administration of the Fair Debt Collection Practices Act. The report highlights CFPB and Federal Trade Commission efforts to combat unlawful debt collection practices.