Current Industry News
Reg F Question of the Week: How Long is a Consumer’s Direct Prior Consent Valid?
The Consumer Financial Protection Bureau has published Debt Collection Rule FAQs for Regulation F, containing questions and answers that pertain to compliance with the rule. The FAQs cover limited-content messages, call frequency issues and more.
Arizona State Court Issues Show Cause Order: Will Review Constitutionality of Arizona Protection from Predatory Debt Collection Act
On December 5, an Arizona Superior Court for Maricopa County issued an Order to Show Cause to the state of Arizona and scheduled an expedited evidentiary hearing in a suit challenging the newly passed Arizona Protection from Predatory Debt Collection Act (the Act), also known as Proposition 209. Arizona voters passed the Act in the November midterm elections and it became effective on December 5, the same day the suit and show cause order were filed.
Wing Financial Files Notice of Data Breach Affecting Over 240k Clients
On December 1, 2022, Wing Financial (an independently owned franchise of Jackson Hewitt) reported a data breach with the Maine Attorney General after confirming that an unauthorized party was able to access confidential consumer information that had been entrusted to the company.
New York Telemarketing Law Requires Immediate Disclosure of DNC Right
In December 2022, New York Governor Kathy Hochul signed a bill into law that requires telemarketers to advise consumers at the very beginning of telemarketing calls of their right to be placed on the company’s Do-Not-Call (DNC) list. This amends existing law (Section 399-Z) that had required telemarketers to disclose the right to be added to the seller’s entity-specific DNC list during a call but had not stipulated when the disclosure had to be made.