What this webinar will cover

The CFPB’s New Director Rohit Chopra has set out a trail of breadcrumbs via remarks, social media posts, bulletins, blogs and press releases as to how the Bureau plans to proceed with supervising and enforcing business processes in consumer finance, credit and collections - among other areas.

For example, the CFPB has tightened up its enforcement procedures, updated the exam procedures for debt collections and UDAAP, and has issued a statement connecting the No Surprises Act to the FDCPA.

Meanwhile, since issuing its July, 2021 resolution, the Federal Trade Commission has been regulating and conducting investigations in the healthcare space and the Department of Veteran Affairs also announced sweeping changes to collections and credit reporting. All the while, states actively look at consumer financial and privacy protection issues.

In this webinar, Joann Needleman, member at Clark Hill Law leading the firm’s financial services regulatory and compliance practice, and Leslie Bender, senior counsel at Clark Hill who counsels financial services and healthcare clients on a broad range of privacy, data security and consumer financial protection laws.

What you will take away

• What the recent press releases, prepared remarks, and social media posts by the CFPB could mean for businesses involved in consumer financial services.

• What recent changes by other regulatory agencies mean for collecting on medical debt.

• Why having a robust compliance management plan with detailed policies and procedures will be necessary for all businesses involved in consumer finances, including healthcare systems, medical billing companies, lenders, debt collection agencies, extended business offices, credit unions, auto financing, etc.

• What these businesses should be tracking and storing for a possible compliance audit or enforcement action by regulators in order to prove compliance.