There have been a handful of new appointments to key positions within federal agencies in recent weeks whom compliance officers at certain covered entities will want to familiarize themselves with. Regulators also have announced actions concerning illegal debt collection practices among medical providers, which could hold lessons for other firms bound by fair debt collection requirements. Learn more in this regulatory roundup:
FHFA names new deputy director of enterprise regulation
The Federal Housing Finance Agency (FHFA) named Victoria Nahrwold to take over the position of deputy director, division of enterprise regulation (DER), which provides management oversight, direction, and support for all examination activity involving Fannie Mae and Freddie Mac. The division also oversees development of supervision findings and the preparation of annual examination reports, which include information about the division’s activities to monitor and assess the financial condition and performance of the government-sponsored enterprises and their compliance with applicable regulations through annual on-site examinations and periodic visits. An examiner-in-charge leads examination activity at each enterprise. Nahrwold will supervise the expansion of examination teams as DER continues to build towards a post-conservatorship future, according to an FHFA press release. Read more here.
NCUA announces new chief ethics counsel
The National Credit Union Administration (NCUA) named Katherine Easmunt as the agency’s chief ethics counsel, effective Nov. 3. Easmunt will oversee the NCUA Office of Ethics Counsel, which ensures the agency remains compliant with federal ethics laws and regulations. The office also is intended to promote a culture of accountability and integrity, and helps ensure the success of the NCUA’s ethics program. Easmunt will also manage the NCUA’s anti-harassment program. Learn more about the new counsel here.
CFPB issues joint statement on illegal medical debt collection
The Consumer Financial Protection Bureau (CFPB) and the Centers for Medicare & Medicaid Services (CMS) issued a joint statement warning of illegal debt collection practices that harm millions of consumers living at or below the poverty line. The individuals referenced in the statement are part of the Qualified Medicare Beneficiary (QMB) group, which represents approximately one-eighth of Medicare recipients nationwide. Federal law generally prohibits healthcare providers who accept Medicare from billing these people for cost-sharing, such as co-pays or deductibles. Learn more here.
FTC takes action against ‘phantom’ debt collector
The Federal Trade Commission is taking action against a Georgia-based debt collector that tricked consumers into paying more than $7.6 million in bogus debt by threatening them with jail time, harassing their family members, and other unlawful actions. Responding to a federal court’s complaint against Global Circulation, Inc. (GCI) and its owner, Kenneth Redon, III, the court agreed to temporarily halt the company’s operation and directed it to turn over its assets to a court-appointed receiver. Read more about this matter here.