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 SEC adopted rule and form amendments to "modify the registration, communications, and offering processes” for business development companies (a type of closed-end investment company that is not registered) and registered closed-end investment companies.
The FINRA proposal to eliminate certain requirements applicable to research reports on "covered investment funds," in accordance with the Fair Access to Investment Research Act of 2017, 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.
The Consumer Financial Protection Bureau reported supervisory observations and exam findings in automobile loan servicing, deposits, mortgage servicing, and remittances between June 2018 and November 2018.
SIFMA and the Security Traders Association raised concerns about legislative proposals on capital formation and corporate governance currently under consideration by the U.S. Senate Committee on Banking, Housing and Urban Affairs.