CGB Seeks Comment on Federal Housing Finance Agency TCPA Petition

The Consumer and Governmental Affairs Bureau (CGB) is seeking comments on a TCPA petition filed by the Federal Housing Finance Agency (FHFA). As explained in the press release, FHFA states that "When a borrower provides a phone number [to a mortgage holder], they anticipate receiving communications that affect their mortgage and, in the case of a disaster, notice that their payment obligation is suspended, that they should be aware of potential fraud scams, that they may qualify for a mortgage loan modification or other relevant matters provided by a reputable service provider.” FHFA is asking the Commission to clarify that calls made by mortgage holders to borrowers in disaster-affected areas fit “within the scope of consent” under the TCPA. Click here for instructions on how to comment on this petition, and click here to access a copy of the petition. To learn more about the TCPA, contact a TCPA attorney.

Thanksgiving No-Call States

Remember that the following states prohibit telephone solicitations on Thanksgiving Day (November 23rd):

• Alabama
• Mississippi
• Louisiana
• Rhode Island
• Utah

Be aware that the above states also prohibit calls on Christmas Day and New Year's Day. Learn more about do-not-call regulations and cell phone do-not-call laws. In addition to the holiday no-call rules, there are a variety of other telemarketing rules that you should understand before starting any telemarketing campaign.

CFPB Director to Resign

 

Consumer Financial Protection Bureau (CFPB) director Richard Cordray has announced that he'll be resigning. Cordray and the CFPB as a whole have often been criticized by Republicans for implementing polices and regulations that hurt both businesses and consumers. Trump will likely name Office of Management and Budget Director Mick Mulvaney, one of Cordray's most vocal critics, as the interim director. Mulvaney will try to roll back enforcement and regulation actions in an effort to benefit banks and other financial service organizations. Read more about this news here.