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Enforcement action accompanied by compliance bulletin
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Consumer Protection, Nonbank Financial
Tuesday, December 22, 2015
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The Consumer Financial Protection Bureau filed a consent order against a payday and installment lender for unfair and deceptive acts or practices under the Dodd-Frank Act’s UDAAP prohibition and the Electronic Fund Transfer Act. On the very same day, the bureau also released a compliance bulletin highlighting the legal risks of in-person collection practices under the Fair Debt Collection Practices Act. Read on or more details on the enforcement action and bulletin.
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