Posts by Andrew Owens
Following their prior post on the CARD Act Report, Payments team members Andrew Owens and Adam Maarec authored an article entitled “The 2015 CARD Act Report” for the November 2016 issue of The Review of Banking & Financial Services. The abstract for the article is as follows:
The CFPB’s biennial report on the consumer credit card market, pursuan… Read the rest
(To view a printable PDF of this post, click here.)
The CFPB recently issued its 2015 CARD Act report on the consumer credit card market (the “Report”). The Report cites a significant amount of data with respect to the credit card market, including regarding use – e.g., number of accounts, total outstanding receivables, revolving balances, et… Read the rest
PLA today posts “The Consumer Credit Card Market,” the Consumer Financial Protection Bureau’s biennial report on the consumer credit card market. The CFPB’s report, required by the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act), provides significant data on the credit card market, including the use, costs… Read the rest
At the American Bar Association’s (ABA) recent annual national meeting from August 8-13 in San Francisco, DWT partner Andy Owens offered attendees a presentation on the overview of the Fair Credit Reporting Act.
The presentation covered a range of topics, including:
What is a Consumer Report?
What is a Consumer Reporting Agency?
CR… Read the rest
On July 11-12, 2013, DWT partner Andy Owens attended a conference organized by the Federal Reserve Bank of Philadelphia (Federal Reserve) entitled Small-Dollar Credit: Products, Economics, and Regulation. The purpose of the conference was to explore the historical background of small-dollar credit, the evolution of small-dollar credit products an… Read the rest
On May 30, 2013, the Bureau of Consumer Financial Protection (“CFPB”) filed a complaint in federal district court against American Debt Settlement Solutions, Inc. (“ADSS”), a Florida debt-relief company, and its owner. The complaint alleges that ADSS and its owner violated the Federal Trade Commission’s Telemarketing Sales Rule, as well a… Read the rest
On December 31, 2012, the Consumer Financial Protection Bureau (“Bureau”) published in the Federal Register revisions (“Proposal”) to rules on international remittance transfers that the agency published in February 2012 and amended and expanded in August 2012 (“2012 Rules”). (Previous paymentlawadvisor articles on the 2012 Rules ca… Read the rest
On August 7, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) published certain updates (“August Updates”) to the remittance transfer rules that it finalized and published in the Federal Register in February (“February Final Rule”). Specifically, the August Updates state that providing remittance transfers “in th… Read the rest
On Jan. 20, 2011, the Consumer Financial Protection Bureau (CFPB or Bureau) released its long-anticipated rules governing certain electronic money transfers or “remittance transfers.” 1 The new “remittance transfer” rules implement provisions of Dodd-Frank 2 by imposing—for the first time—federally mandated disclosure, error… Read the rest
A recent academic study published in the United Kingdom, entitled “Minimum Required Payment and Supplemental Information Disclosure Effects on Consumer Debt Repayment Decisions,” concluded that requiring a minimum monthly payment on credit card accounts discourages many consumers who otherwise would make a larger payment. Moreover, the… Read the rest