Debt Relief Compliance Attorney
Felix Shipkevich October 23, 2018
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Today the Bureau of Consumer Financial Protection, formally the “CFPB,” published a complaint report throughout all 50 states and the District of Columbia. One of main responsibilities, The Bureau collects consumer complaints from a varied financial spectrum such as mortgage, auto loans, payday loans, debt collection, and banking. They analyze state and national patterns for regulatory […]

Felix Shipkevich October 12, 2018
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The Bureau of Consumer Financial Protection, formally the “CFPB,” released a guidance on how debt collection works for consumers. It was formatted in a frequently asked questions style albeit acknowledging that not all situations will have the same answer. They provide steps on what to do immediately after contacted by a debt collector, how to […]

Felix Shipkevich October 4, 2018
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CFPB Settlement to Correct Delays and Monetary Penalty Bluestem has settle with the CFPB (Bureau of Consumer Financial Protection) on allegations of Consumer Financial Protection Act violations for monetary penalty of $200,000. According to the CFPB the Bluestem group of companies “susbtantially delayed” transferring customer’s payments made to companies they had already sold. They found that […]

Felix Shipkevich September 28, 2018
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Student Loan Debt Relief Operators Agree to Settle FTC Charges Last Year’s Operation Game of Loans, a coordinated FTC and Attorneys General initiative, has reached a settlements with 5 defendants. The deceptive student loan debt relief operators violated the FTC Act and Telemarketing Sales Rules by charging illegal upfront fees and false promises of federal forgiveness programs. Under the settlement orders, […]

Felix Shipkevich September 11, 2018
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Regulation Agencies Issue Statement Reaffirming the Role of Supervisory Guidance Five federal regulation agencies today issued a joint statement explaining the role of supervisory guidance for regulated institutions. The statement from the agencies—the Federal Reserve Board, the Bureau of Consumer Financial Protection, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office […]

Felix Shipkevich September 6, 2018
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Bureau of Consumer Financial Protection Releases Latest Supervisory Highlights The Bureau of Consumer Financial Protection (Bureau) today released its 17th edition of Supervisory Highlights. The report covers Bureau supervision activities generally completed between December 2017 and May 2018, and shares observations in the areas of auto loan servicing, credit card account management, debt collection, mortgage […]

Felix Shipkevich August 24, 2018
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This month the Consumer Financial Protection Bureau (CFPB) reached a settlement for online payday loan case with defendants Richard Moseley, Sr. and, Richard Moseley, Jr., owners of Hydra Group and 20 subsidiary companies. In November 2017 Moseley, Sr. was found guilty for conspiracy to collect unlawful debts, to commit wire fraud, identity theft, and “making false disclosures […]

Felix Shipkevich August 10, 2018
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Regulation P To Implement Legislation Amending Gramm-Leach-Bliley Act Changes Will Ease Burden on Financial Institutions and Reduce Risk of Consumer Confusion The Bureau of Consumer Financial Protection (Bureau) today finalized amendments to implement legislation that allows financial institutions that meet certain requirements to be exempt from sending annual privacy notices to their customers. The Gramm-Leach-Bliley […]

Felix Shipkevich July 25, 2018
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IRS imposes monetary penalty and probationary period on tax practitioner and his debt-relief firm for engaging in false and misleading advertising The Internal Revenue Service today announced its Office of Professional Responsibility (OPR) reached a settlement agreement including a monetary penalty with a tax practitioner for violating professional rules of conduct set forth in Circular 230. […]

Felix Shipkevich July 16, 2018
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The Consumer Financial Protection Bureau published a press release on Friday stating National Credit Adjusters (NCA) and it’s former CEO and part owner, Bradley Hochstein, have settled for $3 Million each. The civil money penalties will be suspended if they render $500,000 by the company and $300,000 by Hoschstein. In the consent order the CFPB […]