Articles by: Michael Benoit

How the Supreme Court Turned Debt Collection Into a Grammar Lesson

How the Supreme Court Turned Debt Collection Into a Grammar Lesson

On June 12, the Supreme Court settled a question about the status of debt buyers under the Fair Debt Collection Practices Act (FDCPA) that has been the subject of uncertainty for years: “Is a person who purchases debt for his own account a debt collector if he tries to collectRead More

Choice … or No Choice?

Choice … or No Choice?

How’s that Dodd-Frank reform — the Financial Choice Act — coming along? Unless you’ve been under a rock for the last month, you’ll have noticed that things are not going so well for the Trump administration, and by extension, Republicans in the House and Senate. Between the Russia investigation, the FBI director’sRead More

Compliance Insider: Choice 2.0 … Again

Compliance Insider: Choice 2.0 … Again

The House Financial Services Committee’s (HFSC) worked on the Financial Choice Act (“Choice Act 2.0”) in April, based on an earlier version from the last Congress (Choice Act 1.0). As often is the case in Washington, what is true today may not be tomorrow, and the landscape for financial reformRead More

The Plot Thickens: U.S. Court of Appeals to Hear CFPB Case

The Plot Thickens: U.S. Court of Appeals to Hear CFPB Case

On Feb. 16, the U.S. Court of Appeals for the  D.C. Circuit agreed to rehear en banc PHH Corp. v. The Consumer Financial Protection Bureau. Oral argument is set for May 24. As you may recall, the Consumer Financial Protection Bureau alleged that PHH Corp. had accepted illegal kickbacks fromRead More

Like a Dog with a Bone: Is it Time for the CFPB to Drop Disparate Impact?

Like a Dog with a Bone: Is it Time for the CFPB to Drop Disparate Impact?

On Jan. 18, the Republican staff of the House Committee on Financial Services issued Unsafe at Any Bureaucracy, Part III: The CFPB’s Vitiated Legal Case Against Auto-Lenders. This was the third in a series of reports addressing the Consumer Financial Protection Bureau’s attempts to hold auto finance companies responsible forRead More

Compliance Insider: Time to Read the Tea Leaves Again

Compliance Insider: Time to Read the Tea Leaves Again

The looming reality of a Donald Trump administration surely has staffers at many agencies in a tizzy, fearing their work over the last eight years is about to be erased. That’s a bit extreme, but it’s human nature to think the worst is going to happen when politics takes anRead More

Compliance Insider: Due Process? Really?

Compliance Insider: Due Process? Really?

On Oct. 11, the U.S. Court of Appeals for the District of Columbia Circuit held that the Consumer Financial Protection Bureau’s structure is unconstitutional. In PHH Corp. v. CFPB, the appellate court found that the director of the bureau “enjoys more unilateral authority than any other officer in any ofRead More